Meteoric Growth Fueled by Large Enterprise Deals and 157% Net Renewal Rate
REDWOOD CITY, CA – March 3, 2016 – Gainsight™, the Customer Success company, announced the results of a record fiscal year, having tripled annual recurring revenue (ARR) year-over-year and having crossed 315 enterprise clients. The performance demonstrates that Customer Success is a top business priority, particularly in uncertain economic times. With today’s announcement, some of the leading companies in the world have chosen Gainsight as their partner of choice to deliver success to their customers. Gainsight’s new customers announced today include Adobe, BeyondTrust, Ceridian, Dude Solutions, Ping Identity, Pluralsight, SevOne, Vend, and Yext.
“We are very fortunate at Gainsight to be at the nexus of this new industry of Customer Success, and in that process, have talked to thousands of companies who are changing the mission of their businesses from building products or services to delivering success and outcomes,” said Nick Mehta, Chief Executive Officer at Gainsight. “We are excited about the business performance in 2016, but more than that, are thrilled to partner with some of the most innovative and customer-centric brands in the industry to help drive success for their clients.”
“At Yext, we help companies of all sizes publish, update, and control location data across their websites and apps as well as Google, Apple, Facebook, Bing, Yahoo, and over 100 other publishers. By understanding our customers’ key business issues and opportunities, we help them drive real business results,” said Wendi Sturgis, Yext’s Chief Customer Officer. “Our partnership with Gainsight helps us take our customer experience to the next level. They share our values to learn fast, think big, and get stuff done—and we intend to leverage their industry leadership to accomplish great things together.”
“SevOne provides the leading digital infrastructure management platform for companies delivering on the ‘promise of now’ for today’s connected world. Our Customer Success team works with our customers to enable them to harness the power of their digital infrastructure through SevOne’s real-time insights,” said Brian Zeman, SVP of Global Sales and Services. “We have chosen to partner with Gainsight to help scale our customer-facing activities during this time of significant growth. Gainsight’s comprehensive solution will allow our team to provide the best experience possible throughout the customer lifecycle and will be an important factor in our efforts to create advocacy in our customer base.”
In addition to the growth in new business, Gainsight also reported a 157% net renewal rate, as customers expand their Customer Success strategy across all functional teams. Companies looking to develop and scale their own Customer Success approach can learn from peers at Pulse Conference 2016, which as part of a separate announcement today, will be taking place on May 10-12 at the Oakland Convention Center as 5000+ members of the community will gather to share best practices and network in Customer Success.
Gainsight’s Automated Customer Communications Product, CoPilot, Reaches New Milestones
Consensus existed in the Customer Success community last year that in order to drive Customer Success at scale, teams charged with managing customer outcomes would need one-to-many communications as part of their toolset. Driving Customer Success requires active communication with customers, however, Customer Success teams face the challenge of scaling their customer touch points while resources and time stay constant. Based on this feedback from the community, Gainsight announced last year an industry first customer communications product, CoPilot, to fill this need. Since that time, both the momentum in the community and the success of the CoPilot product offering have been astounding. Over 30% of Gainsight customers have adopted CoPilot and there is continued momentum with a 98% quarter over quarter growth in the number of customer emails sent in Q4.
Until the launch of CoPilot, Customer Success Management products like Gainsight had been able to highlight risk and opportunity in accounts to drive suggested actions (Playbooks) by CSMs. However, the actual outreach itself was still manual calls and emails. This meant CSM teams could only stay on top of their largest clients’ needs and were forced to rely on their marketing counterparts to handle customer communications.
The Customer Success community was right in identifying the importance of complementing marketing campaigns to customers with targeted, personalized, trigger-driven emails from the CSM team. Through deep customer and community engagement Gainsight was able to build the right product for this need, evident by the successful adoption in the community.
Announcing Exciting New Features to Gainsight CoPilot
As the Customer Success community continues to expand one-to-many communications, Gainsight is making additional product investments with the announcement of two key additional CoPilot features. CoPilot best practice email templates will now be published into Gainsight Vault, available for consumption by any of Gainsight’s customers. Gainsight’s Vault is a technology that enables best practices from the Customer Success community right within Gainsight. Gainsight’s Customer Operations team will curate the best email templates from both customers and its own internal use and make it available via the Gainsight Vault. Easy access to best practice email templates, ensures that existing and new customers get off the ground running with CoPilot.
CoPilot has also been enhanced to support “Reports within CoPilots emails”. You can now embed up to five reports within a CoPilot email. A common use case here is to send a customer reports on their own usage of your product or service. Delivering valuable data in your customer emails, ensures high customer engagement with your communication.
“We’ve been very excited to see the tremendous adoption of CoPilot. Many organizations are now heavily dependant on CoPilot and use it as a critical element of Operationalizing Customer Lifecycle touchpoints,” said Karl Rumelhart, Vice President of Products at Gainsight. “We are continuing to add value to CoPilot primarily driven by the feedback from the customer success community. We are proud to have pioneered Gainsight CoPilot as the first and only Customer Communications solution that puts the power of automated customer outreach into the hands of those who know the customer best.”
For More Information:
- Read more about Gainsight’s customers:
- Learn about Gainsight CoPilot:
- Register now for Pulse Conference 2016:
Gainsight™, the Customer Success company, helps businesses grow faster by reducing churn, increasing upsell, and driving customer advocacy. Gainsight’s product helps you touch customers effectively, track customer health consistently and transform the way your company orients around the customer. Gainsight provides a 360° view of customers and drives retention across Customer Success, sales, marketing, executive and product management. Learn how leading companies like Adobe, Box, DocuSign, HP, Marketo, Nutanix and Workday use Gainsight to help their customers succeed at www.gainsight.com.