Cleo Completes Record-Breaking Year as Ecosystem Integration Adoption Accelerates
Company saw all-time highs in new cloud customers and subscription revenue, demonstrating market validation for new integration category
ROCKFORD, Ill., January 26, 2021 – Cleo, the global ecosystem integration category leader and provider of the Cleo Integration Cloud (CIC) platform, today reported its 2020 results marking a record-setting financial performance driven by the rapidly increasing pace of supply chain digitalization and eCommerce adoption, plus major innovations made to the CIC platform.
In 2020, Cleo achieved the following year-over-year results:
• 37% new bookings growth
• 36% growth in total subscription revenue
• 63% increase in new cloud customers
In Cleo’s view, these results underscore the market demand for integration solutions, expertise, and investments to transform broken B2B integration approaches with an ecosystem integration platform.
“2020 brought a sudden and dramatic shift in consumption habits that caused eCommerce and omnichannel fulfillment to explode as companies sought greater agility to adapt and meet supply chain disruptions head on,” said Mahesh Rajasekharan, president and CEO of Cleo. “B2B integration transformation has been accelerating throughout the years, and last year opened the eyes of many executives that they simply cannot sit still. This backdrop not only paved the way for Cleo to deliver its best year-over-year financial performance ever, it validated ecosystem integration as a technology category whose time has come.“
What is Ecosystem Integration?
Ecosystem integration is a blend of API, EDI, and file-based integration on a single cloud platform to automate end-to-end business processes between external partners and internal enterprise backend systems such as ERP, CRM, or TMS, with complete visibility for business and technical users. It is especially timely given two lasting effects on businesses today: first, COVID-19, which has highlighted the critical need for supply chain agility and responsiveness for business processes such as Order-to-Cash and Procure-to-Pay; second, the irreversible shift to eCommerce that is causing downstream effects on fulfillment, operational efficiency, and customer experience happening at an accelerated pace.
Given these twin market forces, ecosystem integration has emerged as both a business discipline and a new software category – because it helps companies quickly build automated processes that can respond dynamically and intelligently to market disruptions. In addition to combining several integration technologies on a single platform, what differentiates Cleo from alternative integration providers is CIC’s unique ability to deliver end-to-end integration visibility and greater control under a self-service, managed service, or blended approach model for day-to-day integration operations.
Along with significant financial growth in 2020, Cleo also had several corporate highlights that point to the strength of the organization and health of the ecosystem integration market:
Platform and Product Innovations
• Launched new capabilities and revamped several components of the CIC platform:
• CIC Cockpit: Real-time integration visibility & actionable insights for any technical or business user
• CIC Agent: Enables end-to-end integration between any on-premise and cloud system where APIs do not exist
• CIC Studio: Completely redefines the self-service user experience with a low-code development environment for creating and designing integrations
Continued Focus on Customer Satisfaction & Success
• Reached new highs in its Net Promoter Score (NPS), consistently scoring above 80
• Continued positive customer reviews on G2
• “Leader” rating for 12th consecutive quarter in EDI, iPaaS, and other integration categories
• Recognition for “Most Implementable” and “Best Usability” solution
Rapid Expansion of Partner Channel
• Cleo’s Partner roster surpassed 300 in 2020, now including more than 36 System Integrator partners who have been trained and certified on the Cleo Integration Cloud platform, positioning Cleo for rapid growth through indirect channels
Continued Momentum with Transactions
• Cleo closed more than 1,500 new contracts in 2020, underscoring the industry recognition and market adoption of ecosystem integration platform
“Our strong 2020 results further validate the tremendous value that ecosystem integration brings to organizations and proves Cleo is one of the most innovative integration solution providers in the market,” Rajasekharan added. “Cleo has defined and built the leading platform to solve integration use cases that enable companies to rapidly onboard their ecosystem partners, strengthen relationships, capture incremental revenue, and optimize costs through a blend of agility and speed across API and EDI based interactions.”
About Cleo Integration Cloud
Cleo Integration Cloud (CIC) is a cloud-based integration platform, purpose-built to design, build, operate and optimize critical ecosystem integration processes. The CIC platform brings end-to-end integration visibility across API, EDI and non-EDI integrations that gives technical and business users the confidence to rapidly onboard trading partners, enable integration between applications, and accelerate revenue-generating business processes. On the platform, businesses have the choice of self-service, managed services, or a blended approach – ensuring complete flexibility and control over their B2B integration strategy.
Cleo is an ecosystem integration software company focused on business outcomes, ensuring each customer’s potential is realized by delivering solutions that make it easy to discover and create value through the movement and integration of B2B enterprise data. Cleo gives customers strategic, “outside-in” visibility into the critical end-to-end business flows happening across their ecosystems of partners and customers, marketplaces, and internal cloud and on-premise applications. Our solutions empower teams to drive business agility, accelerate onboarding, facilitate modernization of key business processes, and capture new revenue streams by reimagining and remastering their digital ecosystem through robust application, B2B, and data integration technologies. For more information, visit www.cleo.com or call +1.815.282.7695.