Huddle on track for future IPO
12 September 2012
Huddle, the leader in enterprise content collaboration, today announced that the company has achieved more than 800 percent sales growth, year over year, in the enterprise marketplace. New independent research indicates a strong demand for a secure, easy to use cloud-based SharePoint alternative and independent findings of Huddle customers point to dramatic improvements to worker productivity and efficiency. Customers include Fortune 500 companies and organizations across sectors including government, financial services, professional services and manufacturing. The company is using its recent $24 million Series C round of funding to form strategic partnerships and expand global operations, with the number of employees expected to exceed 200 across the company’s London, New York and San Francisco offices before the end of the year. Huddle also announced today that it has secured a strategic partnership with IQT to enable work with Federal U.S. Government.
“Huddle has experienced an incredible couple of quarters across the board. From innovative product developments and the expansion of strategic partnerships in key verticals to breaking sales revenue targets, we’re in line with our goal to build Huddle into a public, billion-dollar company,” said Alastair Mitchell, CEO, Huddle. “Businesses today are looking for ways to boost worker productivity, lower IT infrastructure costs and derive value from content while still adhering to reliability, security and compliance guidelines. Huddle empowers businesses to collaborate intelligently and unlock new ways for workers to be more productive, without compromising IT security requirements. The increased global demand for Huddle is invigorating and we remain dedicated to building the best content collaboration platform available.”
“Huddle makes it easy to share content and collaborate with others. The platform has emerged as a cost effective alternative to Microsoft SharePoint,” said Jim Lundy, CEO and Lead Analyst, Aragon Research.
ROUND OF FUNDING ENABLES AGGRESSIVE SCALING AND OPENING OF NEW YORK CITY OFFICE
- $40 million of private funding to date — Huddle completed a $24 million Series C round of funding in May, bringing total funding raised to $40 million to date. The latest round was led by Jafco Ventures, with participation from DAG Ventures, existing investors Matrix Partners and Eden Ventures as well as Subrah Iyar, the founder of WebEx, and experienced venture investor Herb Madan. The company used the additional funds to open a New York City office and expand business operations around the world.
NEW TECHNOLOGY DEVELOPMENT CONTRIBUTES TO RECORD SALES GROWTH
- Huddle Sync learns from behavior to deliver content — Huddle Sync is the world’s first intelligent recommendation and sync platform for the enterprise. Powered by patent-pending algorithms that analyze content and activity in Huddle, it intelligently recommends relevant files to users and securely delivers them to Huddle-enabled devices.
- Native iOS apps for intelligent mobile working — All-new native apps for iPhone and iPad are equipped with Huddle’s intelligent recommendation technology and leverage the power of leading integrators such as Google QuickOffice, Fileboard and Readdle to provide Huddle users with a robust mobile portal for accessing, editing, sharing and collaborating on content while on the go.
- New version unites content and conversations — The new version of Huddle offers users a simplified and more intuitive interface, enabling them to instantly view and interact with their files, related discussions and metadata in one central place.
INDUSTRY ANALYSIS INDICATES A STRONG FOOTHOLD IN THE MARKET
- Huddle named a 2012 ‘Hot Vendor’ — Top technology research and advisory firm Aragon Research named Huddle a Hot Vendor in Content Management due to the fact that its cloud content collaboration platform is now replacing Microsoft SharePoint and saving enterprises money.
- Huddle declared a Contender in Aragon Research Globe — Due to its ease of use, focus on work, adoption guarantee and proven ability to replace SharePoint, Huddle was named a Contender in Aragon Research’s Enterprise Social Software Globe.
NEW RESEARCH SHOWS HUDDLE OFFERS BUSINESSES ROBUST, COST-EFFICIENT CONTENT COLLABORATION
- Huddle boosts worker efficiency and productivity, saving businesses time and money — 95 percent of enterprises report that they have cut worker inefficiency costs by using Huddle. 87 percent of organizations say that Huddle has increased overall efficiency and productivity with about the same amount reporting that they save at least an hour per week by using Huddle. More than a quarter of Huddle customers say that they save 3 or more hours per worker per week. Evidence indicates that businesses save between 50 and 150 or more worker hours per year. At current salary estimates, businesses can save between $1,000 and $3,000 or more per worker per year by using Huddle.
- Huddle is an excellent alternative to Microsoft SharePoint — Among businesses that have partially or completely replaced Microsoft SharePoint with Huddle, 77 percent report that Huddle makes working more efficient and gives end users easier access to content. 85 percent say that Huddle improves overall communication and 73 percent indicate that Huddle offers workers a central location to view and interact with files and engage in conversation.
- Huddle is easy to use and guarantees user adoption — Nearly 90 percent of enterprises say that Huddle is easy to use and user adoption is high. Huddle offers a money-back guarantee of 100 percent adoption across the enterprise in 90 days.
- Huddle is excellent for secure enterprise mobility — 75 percent of enterprise workers securely access content stored in Huddle on iPad or other tablet devices. Two thirds of workers access content stored in Huddle on iPhone or other mobile phones.
- Huddle offers crucial data security — 91 percent of Huddle customers indicate that the government-level security features in Huddle are important to their organization due to their interaction with sensitive information.
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