Clearswift builds platform for expansion
Lyceum Capital-backed Clearswift has increased EBITDA and revenues for its financial year ended 31 March 2013 following a period of significant investment in the business.
The company, which is trusted by over 3,000 organisations worldwide to provide solutions that enable them to secure their business-critical data, recorded 215 per cent growth in EBITDA to £4.7m and saw revenue rise by seven per cent to £20.8m compared to the previous year.
Clearswift’s latest Annual Review also reported 85 per cent revenue visibility, of which 94 per cent is recurring though subscription and maintenance agreements, and a 25 per cent increase in the average size of new business contracts.
Heath Davies, who was appointed Clearswift CEO in October 2012, said: “This past year has been about consolidation and re-focusing the business. As a result, we now have a strong, global senior management team in place and have refined our focus on specific markets.
“We have invested significantly in our technology roadmap which has been led by our Senior Vice-President Product, Dr Guy Bunker. This will set apart our offering as it is unveiled in the coming months.”
Martin Leuw, Clearswift Chairman and Lyceum Industrial Partner, comments: “Enterprises, regardless of sector or size, are rapidly waking up to the risks, as well as the opportunities, that have arisen from the advances in mobile technology.
“To address this, we are building on Clearswift’s strong heritage in its flexible policy engine and deep content inspection capabilities, so that organisations have far greater visibility of where their valuable content is going and who is seeing it.
“Clearswift’s vision for the year ahead and beyond is to enable clients to secure their business critical data at all times through the development and provision of industry-leading information governance cyber solutions.”
Jeremy Hand, Founding Partner at Lyceum and Clearswift board member, added: “Following a year of development and growth, Clearswift is well positioned to continue driving organic expansion through sales into both new and existing market segments and broadening its offering with targeted acquisitions.”