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Management

Configit Powers Into 2022 Following Year of Global Expansion

Configuration lifecycle management provider saw 42% increase in annual recurring revenue

Published: Wednesday, February 23, 2022 - 17:21

(Configit: Copenhagen, Denmark) -- Configit, a global leader in configuration lifecycle management (CLM), had strong global momentum in 2021, bolstered by record growth and an expansion into new markets. The company celebrated major successes in the United States in 2021, while also sustaining its home market in Europe and expanding its business to the Middle East and China.

Configit specializes in servicing large-enterprise customers and is continuously expanding its strong customer relationships. In 2021 alone, the company acquired more than a dozen large enterprise deals. The high-market demand for platform solutions for product configuration drove business deals for the company’s Configit Ace solution, which now accounts for 80 percent of new deals, up from 20 spercent in 2020.

Additionally, Configit’s growth metrics for 2021 included:
• Annual recurring revenue increased by 42 percent in 2021, and the number of deals exceeding $1 million increased by 50 percent
• The U.S. accounted for 37 percent of total deal volume closed, an increase from just 4 percent in 2020
• The number of license/subscription deals from existing customers increased 30 percent year over year
• The value of license/subscription deals from existing customers increased by more than 112 percent
• Signed first customer in western Asia, Arcelik, a Turkey-based household goods company with products sold in more than 145 countries

Other significant milestones in 2021 included partnerships with PWC Germany and Unity. As a member of Unity’s Verified Solutions Partner Program, Configit now delivers enhanced 3D visualization for manufacturers of complex products.

“Configit’s growth continues to empower manufacturing companies to master the challenges of getting configurable products and services to market faster, and to sell, manufacture, and service them more effectively,” says Johan Salenstedt, CEO, Configit. “Configit supports customers through each stage of the product configuration process, proving the value of our solutions at every step. Our growth speaks to our commitment to fully understanding customer challenges, and we look forward to what 2022 brings.”

About Configit

Configit is a global leader in configuration lifecycle management (CLM) solutions and a supplier of business-critical software for the configuration of complex products. All Configit products are based on the patented Virtual Tabulation (VT) technology, which has redefined product configuration by offering greater speed and better handling of complexity. Virtual Tabulation enables Configit to deliver powerful, easy-to-use configuration solutions to market-leading global enterprises.

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