Blue Ridge Completes Banner 2017 with Record Revenue and Customer Growth
ATLANTA, GA Feb. 13, 2017 – Blue Ridge, provider of comprehensive, cloud-native supply chain planning solutions, announced today that the company completed a record FY 2017, achieving a 120% increase in bookings fueled by net new customer acquisition. Revenue growth for 2017 outpaced growth in the supply chain planning marketplace with a 40% increase in annual recurring revenue combined with world-class customer retention of 98%.
“Our financial results in 2017 reflect an increase in demand driven by a shift in the supply chain space as companies looked to modernize their forecasting and planning solutions to keep up with today’s increasingly unpredictable customer buying patterns,” said Jim Byrnes, CEO of Blue Ridge. “In a world where the only constant is change, Blue Ridge provides more certainty, more speed, and more assurance – so companies can see the why behind the buy and respond faster to the unexpected.”
Highlights from the FY 2017 include:
- Blue Ridge grew company revenue at 42% higher than the growth rate for the supply chain planning market and achieved a world-class customer retention rate 98%.
- Annual recurring revenue grew by 40% driven by bookings growth of 120%. Blue Ridge increased its customer base with a record number of customers joining the Blue Ridge family. Leading retailers and distributors such as Brammer AS, City Furniture, Drive DeVilbiss Healthcare, Georgia Crown Distributing Company, Hardies Fresh Foods, Highline Aftermarket, Jensen AS, Martignetti, Motovicity, RaceTrac, Rhee Brothers, Suisan Company and United Distributors all represented key industry growth and geographic expansion.
- Blue Ridge continued its cloud native approach of delivering new functionality on a regular publishing schedule giving customers access to the latest updates and functionality while not suffering through the long implementation times and upgrade costs of traditional on-premises supply chain solutions.
- Key executive additions to further strengthen the management team bringing more than 70 years of supply chain leadership experience including CEO Jim Byrnes, Rajesh Veliyanallore, Chief Data and Analytics Officer, Santhosh Srirambhatla Vice President of Product Development, and Todd Craig, Chief Marketing Officer.
- The company announced BLUEPrint 2018 in Atlanta on April 22 – April 24, 2018 at the Omni Hotel at The Battery Atlanta™. BLUEPrint is a hands-on annual conference for supply chain leaders, managers and users of Blue Ridge solutions.
Byrnes added, “Our success in 2017 was the result of the value our solutions provide our customers on a daily basis. Companies need the certainty, speed and assurance provided by Blue Ridge to thrive in today’s marketplace. We are extremely excited and proud to be an integral part of our customers’ growth strategies.”