Posted on: October 8, 2019 By: Carolyn Kuczynski
We’re excited to announce that Acuity Technologies has been named to the CRN 2019 Fast Growth 150 list! As a brand of The Channel Company, CRN creates an annual list recognizing the fastest-growing technology solution providers, integrators, and IT consultants in North America. We’re thrilled to be on the list this year alongside other innovators that have also made remarkable accomplishments.
Bob Skelley, CEO of The Channel Company, said, “There’s a great deal of growth and opportunity in the channel, and these companies are proof-positive that hard work and a commitment to service can pay off — even in a constantly evolving and highly competitive market like we have today. These companies exemplify the best of the best; channel providers whose market strategies should serve as an inspiration to us all.”
2019’s list comprises channel providers that have experienced substantial growth between 2017 and 2018. We’re honored to be named to the list of companies that have generated a combined revenue of more than $55 billion over the past two years.
Josh Anderson, our CEO, said, “Businesses are increasingly leveraging mobile devices and apps to drive efficiency and productivity while improving both the employee and customer experience. We are committed to helping our customers optimize their mobile technology investments through management, security oversight, strategic guidance, and proprietary software which has been a significant factor in driving our growth.”
Our goal is to provide our customers with management and analytical tools that enable them to support their workforce and make the best decisions they can that maximize the value of their mobility strategies. We believe that enabling enterprises to streamline deployment and ongoing management of mobile devices through our integrated suite of mobility managed services and supporting software sets us apart.
Josh continued, “The relevance of this shift towards mobile adoption is also advantageous to our channel partners because it ensures they are well-positioned to create more value for their existing clients while driving opportunities for additional revenue with new clients.”
As technology advances so quickly, we make it our job to keep up while also keeping up with changing customer demand and preference. We’re excited to be a part of the growth and profitability of other esteemed technology integrators, especially as today’s channel is highly disruptive and fast-paced.
Posted on: October 2, 2019 By: Carolyn Kuczynski
This morning we announced that we closed a $21MM series B minority investment round. This is a significant moment for us as a company, and for the SD-WAN market as a whole. This sizable injection of capital will unlock new resources to help us serve customers and partners even better, and further validates that Bigleaf is solving a huge market need as the world moves to SaaS and cloud.
Improving on a Customer-Proven Solution
The new investment allows us to expand and extend what we’re doing today to serve our existing customers and partners with amazing service and support. We have an industry-leading 95% gross annual retention rate and a base of absolutely thrilled customers. Within that 5% of customers who leave, it’s almost always because they’ve gone bankrupt or are downsizing, not because they don’t like Bigleaf. We are completely dedicated to maintaining customer satisfaction as we scale. We know this won’t be easy, so we’re going to use some of these funds to add more support team members, product management, software QA engineers, and other support staff to make sure that we keep the experience top-notch over time.
Enabling and Expanding our Channels
One of our top priorities with this new funding is investing in our partner channels. For our telecom agent partners, we’ll be enabling them with more educational and support resources to help them sell Bigleaf to tens of thousands more customers. Our success in the telecom channel was built through our relationships with hundreds of forward-looking partners who could see the growing need for a more stable and reliable connection to cloud technologies. For our MSP partners, we’re creating a fully fleshed-out MSP channel program to augment and accelerate the success we’ve had with our early partners. The new funding gives us the ability to extend our reach to more partners in both channels and equip them with the training and resources they need for success.
Finding the Perfect Partner
If someone had asked me 9 months ago about raising another round, we would have told them we weren’t interested right now. We were growing at an incredible rate and were staying focused on operating the business: we’ve now tripled our recurring revenue and company size since our last funding round in January 2018. Then, out of the blue, we started to field an influx of inbound interest from investors.
We realized something was notable about our success in the SD-WAN market. Something exciting. We had built something that was solving a truly un-met need.
SMBs and mid-size enterprises were struggling to address connectivity issues with traditional networking technologies or other SD-WAN solutions. What was available to them on the market wasn’t built for SaaS and public cloud, and couldn’t adapt to the pace of change in today’s business world. People saw that we built a product designed for this future — actually, for today for many businesses — and had proven it by solving these problems for more than a thousand extremely happy customers already.
We knew Bigleaf was on a promising trajectory and could be even more successful with more resources. We also saw a specific opportunity with MSP partners that we hadn’t tapped into at scale, and we saw the opportunity to bring our bigger vision for the next generation of Bigleaf to life. So we agreed to start talking to a few investors. As we considered who we might want to partner with, it was important for us to be able to maintain our Bigleaf way of doing business and who would provide the right kind of support as we scale and navigate challenges. We ended up selecting Updata Partners to lead the round, and we have participation from the Oregon Venture Fund, SeaChange Fund, and several of our other existing investors.
Updata reminds me in many ways of Bigleaf’s culture. They take a strong but humble approach to business (no big egos), they care about capital efficiency like I do, and they bring great expertise and connections. We’re excited about partnering with them on this next era of Bigleaf.
Building for the Future
Beyond taking what we’re already doing to more people, another top priority with this funding is building the Bigleaf of the future. We’re going to be investing significant resources to grow our development and product teams so we can create a new generation of network technology. These resources will also allow us to respond more quickly to the feature requests our community has been feeding us, including faster speeds, more features, and better visibility.
Enterprises both large and small are moving to SaaS and public cloud, and that journey always involves some network risk. We will continue building Bigleaf to serve our customers and partners by giving them peace of mind when they make that move.
Joel Mulkey, Founder and CEO