SAN DIEGO–(BUSINESS WIRE)–Wrikethe most powerful work management platform, reports strong growth metrics and major milestones in the areas of year-over-year revenue, customer support, feature adoption platform and customer deployments and extensions like mind body, Lyftand Intuitive. Most notably, Wrike saw 60% year-over-year growth in accounts over $250,000, the largest known collaborative work management (CWM) deployment with 140,000 users on a single account, a CSAT score of 9.40 for support satisfaction and a 67% increase in adoption of automation features. Like a newly independent company below Vista Equity Partners and Capital of the Evergreen CoastWrike is well positioned to occupy leadership status in the work management space with a renewed focus on platform innovations and professional services designed to accelerate time to value for companies looking to scale rapidly in the economy today.
“Our transition to the private sector and our partnership with two of the software industry’s biggest investors couldn’t have come at a better time,” said Andrew Filev, Founder and CEO of Wrike. “Every organization is focused on moving quickly and efficiently, and now we have the power to not only do that at Wrike, but to enable our customers to do it. The benefits of this are evident in the growth we’re seeing in customer accounts and satisfaction, as well as feature adoption. Historically, we’ve seen year-over-year growth, but recent events have reinforced the need for work management solutions that bring all teams and departments in an organization together into a single digital workspace. . Now is the time to have a single source of truth.
According to a market research company Forest, software spending worldwide is expected to grow at a compound annual growth rate (CAGR) of 10.3% from 2021 to 2023, more than twice as fast as the rate of spending in other segments of the computer science. This is mainly due to the deployment of cloud and enterprise applications, which has led to an increase in the complexity of work and the need for companies to deal with the financial and human impact of inefficiencies, alongside a decline in the productivity. For example, labor productivity in the non-farm business sector fell 4.1% in the second quarter of 2022, with output down 1.4% while hours worked increased 2.7%. %. This is the largest quarterly productivity decline since the third quarter of 1948 (US Bureau of Labor Statistics). Additionally, a recent report from Wrike shows that 55% of the work done within an organization is not visible to key stakeholders, costing organizations up to $60 million per year in lost time, delayed or canceled projects, and churn employees.
Demand has never been greater for a single work management platform that can meet the needs and work styles of individuals while providing the entire organization with collaboration, measurement and visibility. it needs to effectively move the business forward.
“As the demand for 360-degree visibility and accountability within an organization has accelerated, Wrike has mirrored that trajectory with positive year-over-year growth,” Filev continues. “Our customers have welcomed teams of Sony Pictures, L’OrealMindbody, Sitecore, Seaworld Parks and Entertainment, Lyft and Intuit, which have deployed or grown with us over the past year. One of our biggest clients started with a small team and grew organically to 140,000 users on a single platform where they collaborate and manage various workflows. We are also proud to serve thousands of small businesses that are creating innovative products and services and who will be the leaders of tomorrow. We see a strong correlation between a company’s success and its ability to prioritize, collaborate and achieve its most important goals. These customer stories demonstrate the depth and breadth of our platform, including its intuitiveness, versatility, and scalability. »
Wrike empowers approximately 20,000 organizations and two million users to manage complex work in a simple, automated, and unified way. Wrike saw 20% year-over-year revenue growth, 60% year-over-year growth in accounts over $250,000, and a 60% win rate against major competitors due to its strengths in customer support and platform robustness. Customer satisfaction, in particular, increased in the areas of professional services, support, the help desk and the ease of finding information. Wrike offers award-winning support that grows with an organization, plus step-by-step guides and resources on the latest product features for better productivity and efficiency. Additionally, Wrike has seen a net customer retention rate of over 100%, with over 20% of customers expanding their accounts to usher in more teams and departments to tackle the challenges of modern work together.
“Project management is a critical part of Leaf Home’s success,” says Krystal Burwell, Director of Project Management, welcome sheet. “By overseeing projects and goals across our organization, our project management team has played a key role in connecting and integrating the entire business across marketing, supply chain sourcing, IT, legal, call center and creative. The company relies on project management as a strategic partner to create comprehensive and cohesive project plans, calculate return on investment and identify risks in order to achieve our broader organizational goals.
While product innovation continues to be a priority at Wrike, with 200 new features and product updates in the past year alone, it shows in the adoption of platform features. Wrike saw a 67% increase in automated items such as tasks and projects, a 57% increase in monthly active users of resource management, a 30% increase in API syncs and a 215% increase in the number of active accounts using Wrike Analyzer.
“These platform metrics are indicative of the challenges organizations face today,” said Alexey Korotich, VP of Product, Wrike. “A number of businesses are moving beyond simplistic apps and online spreadsheets and need a more powerful platform that supports the complexity of their digital work. They need a single source of truth where all apps, work, and people can come together for complete visibility; they need a no-code platform that automates mundane work and frees them to focus on impactful work; they need more control over resources for increased efficiency; and they need real-time information that guides their future decisions. Wrike is a platform purpose-built for organizations looking to navigate the complexities of work today and tomorrow, and it just keeps getting better. Since many work management deployments start out very small and simple, we wanted to meet our future customers where they are and spear an all-new entry-level team plan. It’s extremely user-friendly and a great option for organizations looking for a top-notch work management platform that will grow with their business. »
Wrike has been included on Deloitte’s Technology Fast™ 500 list for six consecutive years and was named a leader in the Forrester wave of enterprise collaborative work management tools for the third time in 2020.
For more information about Wrike’s award-winning platform and customer service, visit wrike.com.
Wrike is the most powerful work management platform. Designed for teams and organizations looking to collaborate, create, and excel every day, Wrike brings everyone and all work together in one place to eliminate complexity, increase productivity, and free people to can concentrate on their most useful work. With unparalleled power, versatility, and intuitiveness, Wrike is the only work management solution an organization will need to scale, optimize, and scale quickly in a competitive world. Over 20,000 happy customers power their future and come together in Wrike, including Estée Lauder, Hootsuite, Nielsen, Ogilvy, Siemens, and Tiffany & Co. For more information, visit wrike.com.