ScienceLogic Inc. reported this week that it saw a 75 percent year-over-year sales increase during the third quarter of 2013. And while ScienceLogic is not a publicly-held company that is required to report audited financial results, (but shared them in a momentum press release) we wondered what what has driven the IT management software provider's success?
The company said that the strategic shift from perpetual licenses to also offering subscription licenses has helped fuel its growth. Subscription licenses give customers the ability to flexibly grow and scale operations without the rigidity of a perpetual contract. ScienceLogic also pointed to the growing service provider market, citing growth rates of up to 30 percent annually as reported by 451 Research.
The company also attributes its recent strength to the features and quality of its technology including more than 1,000 dynamic apps, multi-tenancy, and dashboards that can be built in 90 seconds.
ScienceLogic said it has seen triple digit growth rates within subscription accounts, plus it has added some key customers. The new customer list includes Pomeroy, En Masse Entertainment, Politico, Resonate Insights, Burwood Group, Hughes, Blackboard, Cincinnati Bell, U.S. Mint, NOAA, National Institute of Health, and Vision Net.
ScienceLogic co-founder and CEO Dave Link said in a prepared statement that the company's market share is growing because of ScienceLogic's unique functionality.
“We invest a tremendous amount of resources into research and development and hiring the best talent out there," he said. "These two priorities are clearly showing through in the customer success we’re achieving."
ScienceLogic offers data center management, private and public cloud monitoring, storage, video and telepresence, and virtualziation.