Preview: Cylynt's obsession with customer success has enabled the company to achieve record recurring revenue and growth in 2020, as well as minimal customer churn.
Cylynt has achieved a fifth consecutive year of record sales for 2019 and is continuing this dynamic growth in the first quarter of 2020.
- 30% growth in annual recurring revenue (ARR)
- 55% five-year compound annual growth rate (CAGR)
- Less than 3% annual gross churn in monthly recurring revenue (MRR)
Obsession with Customer Success
“Cylynt's obsession with customer success paid dividends in 2019 as we reduced our annualized gross MRR churn rate from an already low 4% in fiscal 2018 to just under 3% in 2019,” remarks Ted Miracco, Cylynt CEO. “We continue to strive for 100% customer retention and are redoubling investments in research and development to drive customer satisfaction and continue this trend.
“Our annualized net MRR churn rate was equally impressive –– minus 11%, as we continue to see growth in subscriptions from our existing clients. Across the board, we are experiencing strong demand, both by adding new customers and expanding the user community within existing accounts. Cylynt's software utilization data enables our clients to accurately measure the health and success of their software operations, which is especially important with COVID-19-based restrictions on travel and more people working from home. We see more and more clients leveraging Cylynt technology for tracking evaluations, educational use, and license compliance, such that software monetization can be data driven.”