Q4 2016 New Customers Subscription Up 27 Percent Over Q4 2015
FOSTER CITY, Calif., Jan. 31, 2017 /CNW/ -- Arena Solutions, pioneer of a cloud-based all-in-one product development platform that unites PLM, ALM, supply chain collaboration and QMS, today announced financial results from Q4 2016, the best quarter in Arena's history.
New customer subscription value grew 27 percent over Q4 2015, fueled by Arena's continued success in selling to larger enterprise customers. The average deal size for Q4 2016 was 32 percent higher than it was in the same period for 2015.
New customers in Q4 2016 include the following:
Unlike stand-alone solutions which trap information within a silo accessed by only a few key people, Arena provides a comprehensive, cloud-based product development platform that unites all engineering, quality, and operation disciplines in the creation of innovative connected products. In the Fall of 2016, the company added ALM (application lifecycle management) capabilities with Arena Verify, which provides requirements, issue, bug and hardware defect management in a holistic product development solution that offers a unique combination of PLM, ALM, supply chain collaboration and quality management (QMS).
Arena's product development platform links collaborative development to the product record for a continuous improvement process that brings unprecedented visibility, clarity and flexibility to all the participants in the development process. Uniting the efforts of software, firmware, mechanical and electrical engineers allows them to innovate together to identify requirements, integrate designs and improve product quality to deliver products to market faster. Arena has more than 250 customers in the emerging Internet of Things (IoT) space, which demonstrates Arena's strength among companies designing complex, connected, cutting-edge products.
"Over the past two years, we've broadened the breadth of our solution with releases like Arena Quality, Arena Training Management and, most recently, Arena Verify," said Craig Livingston, CEO of Arena. "We've been providing cloud-based PLM for well over a decade, and the increasing size of initial contracts is testament to the growing confidence in Arena as we continue to expand the value which Arena's product development platform provides our customers."
About Arena Solutions
Arena, the inventor of cloud PLM, provides an all-in-one product development platform that unites PLM, ALM, supply chain collaboration, and QMS for the design and manufacture of complex electronics. With Arena, electrical, mechanical, software and firmware engineers can collaborate with manufacturing and quality teams to manage their bill of materials, facilitate engineering change orders, and speed prototyping. As a result, Arena customers can better meet standards while they ensure regulatory compliance, improve training management, reduce costs, increase quality, and collapse time to market. Arena has been ranked a Top 10 PLM provider and won the coveted Design News Golden Mousetrap Award in 2016. For more information, please visit http://www.arenasolutions.com.
To learn more about Arena Solutions:
Read the Arena blog on product design, development and manufacturing.
Follow @arenasolutions on Twitter.
Follow Arena on LinkedIn.
Arena and Arena Solutions are trademarks of Arena Solutions, Inc., Reg. U.S. Pat. & Tm. Off. All rights reserved. Other product and company names are the property of their respective holders.
SOURCE Arena Solutions
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Joseph Rigoli, LEWIS Global Communications, 781.418.2400, [email protected], http://www.arenasolutions.com
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