As we reach the midpoint of the first quarter, we wanted to take a moment to look back on the past year – and thank our customers and employees for helping make it such a great one!
Throughout 2018, there was a growing understanding of the importance of the employee experience to a company’s success. Companies of every industry and every size came to understand that organizational productivity and employee engagement go hand-in-hand. An employee’s workplace experience helps them decide whether to remain and grow at their current company – or to take their talents elsewhere.
In a tight employment market, an employee’s experiences matter, especially those experiences with the digital tools and technologies they use every day, all day, to do their jobs.
We’re pleased to report that the ability of Nexthink to help companies understand what the digital experiences of their employees really are – and how they affect their work life, as well as that of their IT teams – became a key part of many leading companies operations this past year.
In fact, we finished the year with more than 1,000 customers, welcoming to the team prescription management company Express Scripts; leading mobile games studio SEGA HARDlight; luxury jewelry, gifts and accessories retailer Tiffany & Co.; and Western Union, a leader in cross-border, cross-currency money movement.
Our annual recurring revenue (ARR) grew more than 80 percent year-over-year – and successfully did so for the third straight year. A true testament to both the need for our solution – and the hard work of our wonderful employees. Our customers also showed their favor with renewal rates at more than 90 percent and a net customer retention rate of 118 percent. Our net promoter score (NPS) climbed to 61, an uptick over last years.
And we capped off this terrific 2018 with an $85 million funding round!
In case you hadn’t seen, we secured an $85 million funding round, led by Index Ventures with participation from returning investors Highland Europe, Forestay Capital, VI Partners, Auriga Partners and Galéo Capital – along with new investors TOP Funds and Olivier Pomel. These funds will be invested back into the company to help us continue our growth and enhance our ability to deliver market-leading solutions for our customers.
A few additional highlights to call out from 2018 include:
- Our Growing Digital Experience Library – We have the most advanced and fastest growing catalog of dashboards, campaigns and remediations for Windows 10, Skype for business, Office 365 and many others to help our customers optimize their digital employee experiences.
- Continued Investment in Our Solutions – We made several investments to enhance our offerings this past year: we launched the Nexthink Splunk Connector to give Splunk users access to real-time end-point information about security, operations and IT transformation projects; released an Incident Management Connector, a ServiceNow connector that enables greater visibility, improved IT governance and faster Meantime to Resolution (MTTR); and were awarded a patent for our screen layout manager, an innovative approach to enabling IT departments to have a clear, easy-to-digest and flexible view of their organization’s IT ecosystem.
- Strong Partners – We established new partnerships (NEC Asia Pacific, Brachin LLC, Verano) and enhanced existing ones (ServiceNow) over the course of the past year, giving customers and prospects even more options for gaining real-time visibility across their digital workplaces.
- New Customer Events – A series of customer events, called Experience ’18, were launched in 2018 to inspire and equip end-user computing professionals with the information needed to transform their workplaces and drive success in their digital transformation journeys.
No recap would be complete without a look forward to the future. We currently have more than 400 employees across the globe – but in 2019 we plan to invest in our success even further. Look for us to double our U.S.-based workforce and open a new North American headquarters in downtown Boston, MA this year, in order to better help our customers employ real-time analytics, automation and employee feedback to understand and meet the needs of their modern digital workplaces.
Thanks again to all of our employees, customers and partners for making 2018 such a wildly successful year. On to 2019!