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PeakSpan Capital and Ibbaka Unveil 2nd Annual Net Revenue Retention Survey Results

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SAN MATEO, Calif. and NEW YORK and VANCOUVER, BC, Oct. 30, 2024 /PRNewswire-PRWeb/ — PeakSpan Capital, a leading growth equity firm with $1.5 billion in assets under management (“AUM”) investing exclusively in high-growth business-to-business (or “B2B”) software companies, and Ibbaka Performance Inc. (“Ibbaka”), a provider of pricing optimization and value management solutions, today announced the release of their 2nd Annual Net Revenue Retention (NDR) Survey Results.

For any B2B SaaS company, understanding these trends is essential to driving sustainable growth and staying competitive. – Karen Chiang, Co-founder and COO, Ibbaka

This comprehensive report offers valuable insights for SaaS professionals seeking to improve customer retention and reduce churn in an increasingly competitive landscape. This year’s findings underscore significant shifts in NRR performance across various SaaS verticals, driven by the integration of AI technologies, based on the responses from 503 SaaS companies.

Key Findings:

Emerging NRR Patterns: The survey identifies a growing cluster of companies exhibiting high churn yet achieving strong NRR through substantial expansion revenue. This trend is attributed to the disruptive nature of generative AI.AI-Driven Growth: Companies leveraging AI-related pricing metrics reported an average NRR of 118%, significantly outperforming the overall average. The General AI vertical leads with an impressive NRR of 130.6%.Organizational Design Impact: Dedicated teams focused on revenue expansion are outperforming other organizational models, achieving an average NRR of nearly 125%.Sector Performance: General AI, Healthcare, and Energy sectors are leading in NRR performance, while Communication, MarTech, and CRM sectors are struggling amid post-COVID adjustments and AI-driven market shifts.

Vertical-Specific Insights:

AI and Machine Learning: Companies in this sector maintain their position as top performers, with 35% achieving NDR rates above 130%Data Analytics and Management: Close behind AI, with strong growth potential and high retention ratesHR Tech and EdTech: While still facing challenges, these sectors show signs of improvement, with several companies implementing successful retention strategies

Sanket Merchant, Partner at PeakSpan Capital, noted: “We couldn’t be more thrilled to partner with the Ibbaka team on our 2nd Annual NRR Survey! The preceding year has been challenging for most scale-ups who sought to drive the best absolute view of efficient growth. Like most, we believe retention is one of THE most powerful measures of utility, and expanding customer relationships is a powerful lever to drive (efficient) growth and reinforce the ongoing value being delivered. We’re excited to see how these insights help software or SaaS businesses build a robust relative view of performance against their relevant peer set and identify best practices to maximize performance. The wealth of insights from this year’s survey will help scale-ups better understand what more can be done to drive best-in-class performance and sustainable growth acceleration, which will undoubtedly be a boon for our scale-up community and well beyond.”

Karen Chiang, Co-founder and COO of Ibbaka, added, “We are thrilled to unveil the results of the 2nd Annual Net Revenue Retention Survey, which provides crucial insights for B2B SaaS companies navigating today’s dynamic market. For any B2B SaaS company, understanding these trends is essential to driving sustainable growth and staying competitive. The findings highlight emerging patterns in net revenue retention and offer strategic recommendations that can empower companies to optimize their pricing models and enhance customer value. We believe this report will be an invaluable resource for SaaS professionals aiming to refine their retention strategies and achieve long-term success.”

Strategic Recommendations:

Embrace Expansion Revenue: Companies should prioritize expansion revenue to counterbalance increased churn during this transitional period.Adopt Hybrid Pricing Models: Transition to hybrid metrics or outcome-based pricing to optimize value capture from AI-driven solutions.Leverage Generative AI for Growth: Explore new growth motions, such as AI-led growth, to complement existing strategies and maximize potential expansion revenue (PER).Design for Flexibility: Offer diverse configurations and packaging options to enhance customer value and retention.Monitor Industry Shifts: Stay informed about industry changes, particularly in packaging and pricing strategies influenced by major players like Salesforce and Adobe.

Accessing the Full Report

The complete 2nd Annual Net Dollar Retention Survey Results report is now available on the Ibbaka website. Access the report here. SaaS professionals are encouraged to leverage these insights to refine retention strategies and drive long-term success in their respective markets.

About PeakSpan Capital

Based in New York City and Silicon Valley, PeakSpan Capital is a $1.5 billion AUM growth equity firm with a singular mission to be the partner of choice for growth-stage entrepreneurial teams building amazing business software companies. PeakSpan combines deep domain expertise within a select number of themes with an active partnering approach to help entrepreneurs drive excellent risk-adjusted growth and value creation. PeakSpan Capital prides itself on a collaborative approach to working with entrepreneurs and other stakeholders.

To learn more about PeakSpan Capital and its portfolio, please visit www.peakspancapital.com

About Ibbaka

Ibbaka empowers SaaS businesses to optimize their packaging and pricing strategies through its cutting-edge Valio platform and expert consulting services. The Valio platform enables companies to create sophisticated value models that quantify the economic benefits their solutions provide, considering various value drivers and use cases. By leveraging AI and data-driven insights, Ibbaka helps develop pricing models that align with the value delivered, including usage-based, tiered, or hybrid structures tailored to maximize revenue while remaining competitive. Additionally, Ibbaka assists in designing optimal product packages that resonate with different customer segments, facilitating effective communication of the value proposition to prospects and customers.

To learn more about Ibbaka, please visit www.ibbaka.com

Media Contact
Liam Hannaford, Ibbaka, 1 7788981483, lhannaford@ibbaka.com, www.ibbaka.com
Sanket Merchant, PeakSpan Capital, 1 650-337-6000, sanket@peakspancapital.com, www.peakspancapital.com

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Virtusa Earns 2024 Great Place to Work® Certification™ for Third Consecutive Year

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SOUTHBOROUGH, Mass., Dec. 23, 2024 /PRNewswire/ — Virtusa Corporation, a global leader in digital business strategy, digital engineering, and IT services, is proud to announce its 2024 Great Place to Work® Certification™ for the third consecutive year. This recognition spans seven countries – India, USA, Canada, UK, UAE, Australia, and Singapore – and underscores Virtusa’s dedication to fostering a High-Trust, High-Performance workplace culture globally.

The certification is based on rigorous employee feedback, with Virtusa achieving an impressive Trust Index™ score of 79% and an Employee Net Promoter Score (eNPS) of 73%. Notably, 81% of employees agreed with the statement, “Taking everything into account, I would say this is a great place to work.”

Key areas of improvement over the past year include professional development, equal treatment, making a difference, and creating a welcoming environment.

“We are incredibly honored to receive the Great Place to Work® Certification™ for the third consecutive year,” said Lori Mullane, Chief People Officer at Virtusa. “This recognition reflects our unwavering commitment to creating an inclusive and empowering workplace where employees feel valued, supported, and inspired to achieve their best. Investing in a culture of trust, collaboration, and growth enables our teams to deliver exceptional value to our clients and communities.”

Virtusa’s commitment to professional development, diversity, and well-being reflects its efforts to build a supportive and inclusive environment. With industry-leading initiatives like Engineering IQ for career progression, robust upskilling programs, and a focus on belonging and fairness, Virtusa has created a culture where employees can thrive.

The Certification is a testament to Virtusa’s leadership in workplace culture, which supports over 30,000 employees globally. As the company continues to grow, its mission remains steadfast in providing a High-Trust, High-Performance environment that drives innovation, collaboration, and employee satisfaction.

For more information about Virtusa’s workplace culture and career opportunities, visit https://www.virtusa.com/careers.

About Great Place to Work®
Backed by 30 years of data, Great Place To Work is the global authority on workplace culture. Through its proprietary For All™ Model and Trust Index Survey, it gives organizations the recognition and tools to create a consistently positive employee experience. Its mission is to help every place become a great place to work for all, driving business growth, improving lives, and empowering communities. Through globally recognized and coveted Great Place To Work Certification and highly competitive Best Workplaces™ Lists, Great Place To Work enables employers to attract and retain talent, benchmark company culture, and increase revenue. Its platform enables leaders to truly capture, analyze and understand the experience of every employee, and compare outcomes with data collected from more than 100 million employees in 150 countries worldwide.

About Virtusa
Virtusa Corporation provides digital engineering and technology services and solutions for Forbes Global 2000 companies across industries, including financial services, healthcare, telecommunications, media, manufacturing, and technology. With a foundation in digital engineering, Virtusa empowers enterprises to navigate digital transformation, driving operational efficiency and measurable outcomes. Leveraging its Engineering First approach, Virtusa partners with organizations to tackle complex challenges, delivering solutions that ensure resilience and competitive advantage.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

Media Contact: 
Paul Lesinski
Edelman
(971) 226-5299 
paul.lesinski@edelman.com 

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DogeRide Unleashes a New Era of Pet-Friendly Ridesharing in Denver

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DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app in Denver, CO Metro Area.

DENVER, Dec. 23, 2024 /PRNewswire-PRWeb/ — DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app.

“We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

Designed to bring convenience and joy to pet lovers, DogeRide allows drivers to ride with their dogs as companions while welcoming riders to travel with their furry friends. With Denver being one of the most dog-friendly cities in the country, this service is set to revolutionize how residents and their dogs move around town.

DogeRide aims to address a growing demand for pet-friendly transportation. Riders no longer have to worry about leaving their four-legged friends behind or struggling to find a rideshare that accommodates their pets. The DogeRide app allows seamless booking and ensures all participating drivers are comfortable with canine passengers.

To ensure a safe and pleasant ride, dogs must weigh under 80 pounds and be on a leash or in a crate during the journey.

Denver is a city that thrives on community and outdoor adventures, and dogs are a huge part of that lifestyle,” said Phil Warfield and Divine Tumenta, both Co-founders of DogeRide. “We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

The app’s user-friendly interface allows riders to indicate when they’re bringing a dog along, ensuring that drivers are prepared for their canine co-pilots. Additionally, all DogeRide drivers are trained to prioritize safety and comfort for both human and canine passengers. From trips to the vet or park to daily commutes, DogeRide is committed to making every journey tail-waggingly fun and hassle-free.

DogeRide also offers unique features tailored to the needs of dog owners and pet-loving drivers. Drivers are encouraged to bring their dogs along for companionship while working, creating a warm and welcoming atmosphere for riders. This innovative approach not only enhances the drivers’ experience but also provides riders and their dogs with a sense of familiarity and connection.

“DogeRide is the ultimate ridesharing service for dog lovers because we’ve designed it with the needs of Denver’s vibrant pet-owning community in mind,” said Chad Harris, Co-founder of DogeRide. “Whether you’re heading to the dog park, running errands, or going on an adventure, DogeRide ensures your furry friend can come along for the ride. We’re thrilled to be part of Denver’s pet-friendly ecosystem.”

DogeRide’s mission is to create a safe, reliable, and dog-inclusive transportation option that reflects the unique lifestyle of Denver residents. As part of its commitment to the community, DogeRide plans to partner with local animal shelters and pet organizations to support adoption events and promote responsible pet ownership.

DogeRide is now available for download on iOS and Android devices. For more information, visit www.dogeride.com.

Media Contact

Nick Dell, DogeRide Technologies Inc, 1 7207817533, support@dogeride.com, https://www.dogeride.com/ 

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Omnis Investments Limited Extends Relationship with SS&C

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WINDSOR, Conn., Dec. 23, 2024 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Omnis Investments Limited has extended its transfer agency relationship with SS&C. The contract services Omnis’s range of mutual funds, which invest across several asset classes and regions.

With more than GBP10 billion of assets under management, Omnis is one of U.K.’s largest asset managers and works closely with clients of The Openwork Partnership, a network of 4,200 financial advisers across the country. Omnis also collaborates with 2plan wealth management, a leading wealth management firm in the U.K.

“SS&C is a long-term valued partner to Omnis, and we are looking forward to continuing our work together on ways to enhance the experience of our clients and achieve our goals,” said Simon Harris, Chief Operating Officer at Omnis. “Together with SS&C, we are committed to providing a high standard of service to all of our clients and evolving our digital service offering.”

“We are pleased to extend our valued long-term relationship with Omnis,” said Spencer Baum, Managing Director Head of Client Management, SS&C GIDS. “SS&C is committed to delivering exceptional omnichannel servicing and support to all customer types.”

Learn more about SS&C’s Global Investor and Distribution Solutions here.

About Omnis Investments Limited

Omnis Investments manages over GBP10 billion in assets, working as part of The Openwork Partnership, a network of 4,200 financial advisers across the country helping people look forward with confidence and optimism. Omnis has a range of funds and strategies across the full risk/return spectrum, managed by leading investment managers. The Omnis funds are only available through advisers of The Openwork Partnership and 2plan wealth management.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about
SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on Twitter, LinkedIn and Facebook.

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