San Mateo, Calif., Jan.16, 2013 – Replicon, the global leader in cloud-based time tracking software, today announced record revenue growth for the 2012 fiscal year. Fueled by continued strong demand for easy-to-use online timekeeping software solutions delivered in the cloud, Replicon saw 47.1 percent invoiced revenue growth during the full fiscal year 2012, compared to 2011, in its software-as-a-service (SaaS) offerings. Additionally, Replicon added 995 new SaaS customers, with significant expansion in enterprise, financial services and cloud-based technology in the social, collaboration and online retail market segments.
“The SaaS revolution is taking over the enterprise as easy-to-use and easy access to cloud-based business applications help work get done faster,” said Raj Narayanaswamy, co-founder and co-CEO of Replicon. “Business today is about accelerating workforce productivity, and companies are quickly realizing the value not only of tracking employee time but understanding how that time is spent. Our rapid growth demonstrates strong and growing demand, and sets the tone for our continued momentum in 2013 as the global leader in cloud-based time tracking software.”
Additional growth year over year includes a 22.2 percent increase in new SaaS customers with more than 1,000 employees. More than 57 percent of Replicon’s customer growth was in the U.S. and the U.K.