Company sees 42 % subscription revenue growth in 2023 and the end of the year realizing the 66th quarter of consecutive ARR growth.
RELEX Solutions today announced closing 2023 with remarkable growth across annual recurring revenue (ARR), customer net promoter score (NPS) satisfaction, and new customer signings. Overall, RELEX saw 42% year-over-year growth of reported subscription revenue in 2023, and in Q4 2023 realized its 66th quarter of consecutive ARR growth. This growth is attributed to new and expanded customer signings across the globe, as a variety of retailers and consumer goods companies recognize the deep value inherent in the company’s supply chain and retail planning solutions. RELEX delivers quick time to value and has a flawless track record of successful implementations in the company’s decade-plus history.
“The bedrock of our customer promise lies in delivering measurable, impactful results, very quickly. We stand by the premise of ‘doing what we say we’re going to do’ which not only instills trust, but confidence,” said Mikko Kärkkäinen, group CEO and co-founder, RELEX Solutions. “I’m very proud of our growth this year, which is directly attributed to the lasting relationships we form with customers from day one.”
In 2023, RELEX closed nearly 200 customer deals, of which 73 were net-new customers. Some of the new customers RELEX signed in 2023 included A.F. Blakemore & Son, bp, Casey’s, Fressnapf, Koala Furniture, Obramax, OXXO, PriceSmart, United Natural Foods, US Foods® CHEF’STORE™ and 7-Eleven Australia. RELEX also saw an 31% increase in customers that chose to expand their business with RELEX to capture additional business value in 2023, which speaks to the measurable results and value customers gain working with RELEX, as evidenced by a company-high NPS rating of 60 globally. The average NPS score for a SaaS company is around 40; RELEX consistently scores well above the industry average each quarter.
With the recent acquisition of Optimity, RELEX also welcomes 80+ customers across highly complex manufacturing and food and beverage industries including Blendwell, Bubbies Ice Cream, and Finsbury. These customers join the roster of consumer goods companies at RELEX including Altia, Angulas Aguinaga, Atria, Hennig-Olsen, Maag Group, and Saarioinen, among others. Across retail, wholesale distribution and manufacturing RELEX currently has a portfolio of over 500 happy customers.