Syniti Enters 2022 Riding High on Acceleration in Growth & Financial Performance
Overall revenue up 18% with record bookings for software and services Company expands with key leadership hires.
BOSTON – Feb. 9, 2022 – Syniti, a global leader in enterprise data management, announced today that it continued its strong momentum in the final quarter of 2021 with double digit growth across software and services. For fiscal year 2021, software bookings grew nearly 65%, service bookings increased 31% and services revenue was up 16%. Annual recurring revenue from cloud more than doubled in 2021 compared with 2020. Growth was spurred by enterprises continued modernization efforts, digital and customer transformations, as well as the global uptick in merger, acquisition & divestiture activity; Syniti participated in more than 20 large MA&D deals in 2021.
“Competitive companies are embracing our value proposition. Companies will succeed or fail based on how well they take advantage of data – this is a given,” said Kevin Campbell, CEO, Syniti. “We’ve long said that digital transformation of any kind is really a data transformation – whether you’re moving data for M&A transactions or ERP migrations or looking to deliver that 360 view of your customer. Our customers have recognized the need to invest in the underlying data foundation as the key to their competitive advantages and we’re grateful for the trust they put in our teams and our products.”
- The company added 70 net-new enterprise customers including global market leaders in transportation, construction and healthcare equipment and services, with significant growth in key markets, including Canada, Japan and Switzerland.
- Syniti’s team of data-focused experts celebrated more than 80 go-lives of increasingly complex multi-year projects in life sciences, pharmaceuticals, aerospace and defense, and retail.
- The alliance business grew triple digits year over year. Syniti continues to deepen relationships with key partners, including Deloitte, SAP as well as smartShift and Natuvion to help accelerate and simplify moves to SAP S/4HANA® Cloud
Syniti strengthened its product portfolio with significant enhancements and updates throughout 2021, including:
- Big data and cloud replication improvements with Syniti Data Replication v9.8.1 to help accelerate enterprise artificial intelligence (AI), cloud and analytics initiatives
- Furthered investment and key wins in data governance with Concento™ Rapid Data Governance (RDG) to support SAP MDG
- New features to the Syniti Knowledge Platform (SKP) Master Data Management to help simplify project delivery and retain custom modifications when upgrading
- Updates to Syniti Matching Solutions that improved address parsing, word lookup and service improvements to support SSL and user authentication
- Enabling the sale of select Syniti software on the SAP store as well as AWS marketplace
Syniti employees, known as Synizens, now number more than 1300 globally. An office in Walldorf, Germany was opened to strengthen the company’s relationship with SAP and global delivery centers in Latin America and Eastern Europe were expanded to better support its global customer base. Strategic mergers with DMR and 360Science added best-in-class data expertise and the world’s best matching technology to the Syniti product portfolio. The company also added the following strategic appointments in key growth areas:
- Life sciences veteran Ricardo Rosales as vice president, Americas, strengthening industry focus and alignment with strategic partners
- SUSE and Microsoft leader Andreas Engel as vice president and go-to-market lead for Middle and Eastern Europe expanding reach in DACH
- Additional investment with SAP and support of RISE with SAP with the appointment of vice president of global alliances for SAP, Stefan Kaltwasser
- Former Oracle and Workday exec Libby Lee increased her scope as senior vice president to include management of the South Asia business
- Tech industry sales leader Frankie Steel, formerly with SAP, Microsoft and HP, expanded her role as vice president for Australia and New Zealand
- Stronger investment in marketing with the hiring of former IBM-er Kate Reed as chief marketing officer, a revamped website and new martech stack
“We are well positioned – with the best people in data, major product releases, key alliance partner agreements and accelerating demand for our services– to make 2022 our best year yet,” said Campbell.
Syniti solves the world’s most complex data challenges by uniquely combining intelligent, AI-driven software and vast data expertise to yield certain and superior business outcomes. For over 25 years, Syniti has partnered with the Fortune 2000 to unlock valuable insights that ignite growth, reduce risk and increase their competitive advantage. Synti’s silo-free enterprise data management platform supports data migration, data quality, data replication, master data management, analytics, data governance, and data strategy in a single, unified solution. Syniti is a portfolio company of private equity firm Bridge Growth Partners LLC. Read more at www.Syniti.com.