Appian 2013 Results
Appian just reported results for 2013, and they’re pretty good, improving a bit over what was reported in Q3 of this year:
|Rev growth rate YoY||31%||90%*|
|# New Customers||50||<70|
* Cloud license revenue growth rate only
This implies that in Q4, Appian added something less than 20 new customers, which is a bit faster rate than the first 3 quarters of FY 2013. For the full year, revenue growth is reported at 90% growth, which means that each customer might be spending more than what was reported in previous years, and this is a very healthy business. Actually, I misread that. 90% is the “cloud license revenue” portion. However, Appian also has a sizable on-premise software business… the CAGR from 2010-2013 is reported at 119% in the same article. Of course, this isn’t apples-to-apples and obscures what the current 2013 growth rate is (but we can infer it is something less than 119% as growth rates tend to decline as a company gets larger).
Appian separately reported hiring 150+ people in the last 12 months, which is approximately doubling the size of the team (LinkedIn reports a little north of 300 employees).
When I see BPM vendors growing, it looks like good news to me for the market and for services providers like BP3.
And, as Neil Ward-Dutton says, BPM isn’t dead yet!