Planbox Experiences Rapid Organic Growth With Three Successful Acquisitions in 4 Years.
Planbox, a pioneering cloud-based AI-powered agile innovation management platform, announced record breaking results for a fourth consecutive year, as the company achieved new operational efficiencies with its accelerated expansion of new—and ongoing retention of existing—customer relationships, all of which has been fueled by the company’s most recent acquisition of UK-based innovation platform provider Imaginatik (LSE: IMTK).
Major Financial & Operational Highlights:
- 200% revenue growth in 2019 and up 1,000% since founding in 2015.
- Recurring revenue up 250% in 2019 and up 1,250% since 2015.
- Completed acquisition of Imaginatik (LSE:IMTK) to create an agile innovation management powerhouse.
- Partnered with the Royal Canadian Navy on a major project to support the naval force’s global mission in becoming a more agile and digitally-enabled organization.
- Awarded the G-Cloud 11 Framework Certification to supply the company’s cloud-based software and services via the UK Government’s Digital Marketplace.
- Planned an innovative new deployment for 2021 at a world-renowned brand in Europe for Grand Prix F1 racing to drive a competitive advantage for regulatory requirements.
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Major Product Highlights:
- Announced Discovery Central, a new module that provides a unique guided framework based on business context and defined lenses to imagine different futures, and explore the right problems to solve and prioritize with Head-to-Head technology comparison for strategy alignment.
- Announced Portfolio Central module that tracks the status, cost and returns of different projects (overrun, overspend, bottleneck) to report on benefits realized.
- New integrated surveys and embedded polling to enable better feedback and customer insights across the platform for problem definition, challenge success and idea development.
Major Customer Success Highlights:
- Maintained customer retention over 90% with a majority of clients opting for 3+ year platform commitments.
- Global deployment for one of the largest pharmaceutical companies with over 100,000 employees with the top 20 R&D spend that expanded the use of the platform across the enterprise.
- Cargill, the largest private company in the US, renewed for a 15th consecutive year and made a major investment to expand its use of the platform.
“We feel Planbox’s platform supports our mission in maintaining a culture of innovation by opening up the participation process to the entire organization and crowdsourcing ideas from a wide range of audiences,” said Michael McCathren, Enterprise Innovation at Chick-fil-A. “We’re excited about Planbox’s latest innovative capabilities following their most recent merger. Integrating their robust agile innovation management platform within Chick-fil-A’s innovation process will allow us to collaborate more broadly and manage the journey of ideas with much greater efficiency.”
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“Planbox is a highly customizable and versatile platform supported by a fantastic team,” said Jade Clarke, Learning & Development Manager at Alberta Blue Cross.
Other Key Highlights & Developments:
- Completed SOC 2 Type II Audit, demonstrating compliance to strict information security, availability, and confidentiality standards for the Planbox platform and data centers.
- Reported by leading advisory firm 451 Research as having a “unique upper hand in the innovation management space.”
- Pioneered the joint use case for ISO 56000 Series of International Standards on Innovation Management and ISO 9000 Quality Management Systems Standards to create a complete framework for continuous improvement and sustainable success.
“2019 was a breakaway year for Planbox as we saw great momentum across the board in the marketplace with new and existing customers, as well as acquiring a new business that paid huge dividends in terms of new expertise and technologies that will serve us well into the future,” said Ludwig Melik, CEO of Planbox. “We are delighted and humbled by the love our community has demonstrated for Planbox and we will do our utmost to exceed their expectations.”