Annual Report 2018: Siteimprove grows at 36%, launches SEO module
May 30, 2019 - By SiteImprove
Copenhagen, Denmark – May 30, 2019 – Today, Siteimprove announced its 2018 full year financial results, marking yet another year of solid progress for the company. The year was a success, in terms of both financial performance and significant progress made in expanding and improving the functionality of the Siteimprove Intelligence Platform.
Siteimprove achieved strong growth in 2018, increasing its annual revenue by 36% to USD 61.4 million. This was driven by continued strong demand in established key markets such as the US and the Nordics. Newer Siteimprove subsidiaries in countries such as Sweden and Singapore also contributed particularly well in moving the company forward.
In 2018, the global reach of the company’s customer base grew by 14% to a total of 7,420 customer around the globe. Siteimprove also experienced a rapid growth in employees, with a 22% increase to total 526 members of staff. To further support the needs of digital marketing teams, the company also launched an advanced Search Engine Optimization module in 2018, which demystifies SEO so every organization has the opportunity to be found by the right people.
Moreover, Siteimprove continued to play a large role in supporting and setting international web accessibility standards in collaboration with the World Wide Web Consortium (W3C). This included being part of various taskforces, as well as the continuation of Siteimprove’s work with Horizon 2020: a project the European Commission selected Siteimprove for to develop the next generation of web accessibility testing tools.
Commenting on the 2018 result, Chief Executive Officer Morten Ebbesen says, “2018 was an exciting year of growth for us, not only from a revenue perspective, but also in employee numbers, investments, customer base, and countries we operate in. We’ve also released several initiatives that better serve our customers, as we strive to provide better and more enterprise-ready software every year."
- In 2018, net revenue increased by 36% to USD 61.4 million (2017: USD 45 million)
- Revenue increased at least 30% across all reported markets, with North America as the most noteworthy driver of growth
- The total number of customers grew by 14% in 2018 to nearly 7,420 customers
- Net cash flow for the year 2018 was negative USD 1.0 million compared to negative USD 3.1 million in 2017
- 12% increase in the average customer contract value measured year over year
- Two new offices in Singapore and Sweden were established during 2018
Siteimprove transforms the way organizations manage and deliver their digital presence. With the Siteimprove Intelligence Platform, you gain complete visibility and deep insights into what matters, empowering you and your team to outperform the status quo with certainty every day. With a worldwide customer base of more than 7,400 customers, Siteimprove serves dozens of markets from offices in Amsterdam, Berlin, Copenhagen, London, Minneapolis, Oslo, Sydney, Toronto, Vienna, and more. For more information, visit siteimprove.com.