Achieves another record quarter with 99% software subscription license growth; further demonstrating ongoing customer value by outstanding renewal and expansion rates
MapR Technologies has achieved another record quarter, which includes 99% growth in software subscription license bookings over prior year. This continued growth was fueled by the release of the industry’s only Converged Data Platform, which enables its customers to accelerate data-driven applications with the best security, flexibility, scalability, and real-time capabilities.
According to the release, new software subscription license growth and existing customer expansions contributed to the record quarter and an impressive dollar-based net expansion rate of 146%. MapR customers continue to realize significant benefits from MapR products including the recently released Converged Data Platform, resulting in a steady 99% retention rate for MapR. Additionally, the growth and operational focus of MapR have resulted in higher cash efficiency, posting another quarter of improved cash flow.
Notable new and expanded customers this quarter include Audi, Cardlytics, comScore, Eastern Bank, Harte-Hanks, IPC, Macquarie, Recruit Technologies, Rubicon Project, and Xactly. MapR was also selected by Cisco to power its new SAP appliance for HANA applications. Ericsson chose MapR as the underlying data platform for its new cloud-based service.
Additionally, release of the MapR Converged Data Platform, offering integrated file, database and event streaming in one platform includes advances and support for containers and Drill 1.6. Gartner named MapR a Visionary in the Gartner 2016 Magic. Research firm IDC concluded that MapR customers achieve a three-year ROI of 382% and over $20 million in business benefit; said the release.
Matt Mills, President, MapR Technologies said, “The Converged Data Platform is a growth engine for the company. It empowers enterprises to more effectively put their data to work, improving business performance and unlocking new revenue streams. As a result, more new customers are coming onboard and our existing customers continue to expand the use of our software. We continue to add remarkable talent across the company, including sales, professional services and engineering. By efficiently scaling our operations to support all the increased demand, I’m confident we’ll continue to deliver record setting growth well into the future.”
Founder and CEO, John Schroeder added, “The industry is in the midst of the biggest change in enterprise computing in decades and companies that are serious about using data to improve business results are relying on MapR. MapR makes significant contributions to the Apache community and this involvement enables us to uniquely combine open source innovation with our patented Converged Data Platform to enable customers to increase revenues, lower costs, and mitigate risk.”
