Orbus Software has announced it has met its forecasted annual recurring revenue (ARR) target for 2023, achieving 30% year-on-year growth.
The ARR of the company’s flagship product and software-as-a-service (SaaS) platform OrbusInfinity grew by 56% in 2023, which is 26 times greater than its value in December 2020.
Orbus says it has also completed a full refinance of the company’s debt with new provider Golub Capital in Q4 2023.
In line with this growth, the company has been expanding its Australian presence, with 30% new hires in the region. It also appointed Peter White as the APAC Managing Director in November 2023. He brings with him 30 years of experience in strategic management, direction, and business advisory positions at global enterprises including Envirosuite, Hewlett-Packard, Motorola, Nokia, and Siemens.
“In today’s digital age, gaining insights into enterprise data is no longer a luxury but a necessity for businesses to thrive,” said Ian Roderick, CEO at gwi.digital, a strategic partner of Orbus Software. “We are acutely aware of this, particularly given our experience in the APAC region and our understanding of the cybersecurity challenges faced here. Having undergone an IRAP assessment in 2023, Orbus Software continues to consolidate its commitment to deliver secure and innovative enterprise transformation solutions. We are proud to strengthen our long-term partnership with Orbus and are thrilled by its growing presence in the APAC region.”
Throughout 2023, Orbus maintained its net revenue retention rate of 112% from 2022 and increased cloud customer retention from 96% in 2022 to 97% in 2023.
Regulated industries continue to show the biggest trend for transformation software globally, with 31% of the new customers from the government sector. Finance, energy and utilities, and manufacturing followed closely, showing the importance of managing strategy, transformations, business processes, and regulatory requirements in a single platform.
As most companies become digital by default, Gartner estimates that more than 95% of new digital workloads will be deployed on cloud-native platforms by 2025. In line with the growing use of the cloud, Orbus launched new capabilities in 2023, including its Sustainability Lens. The feature provides an additional metric of analysis that helps OrbusInfinity users factor sustainability into all strategic decision-making processes.
“Technology businesses worldwide are facing challenging headwinds, but Orbus Software’s continued growth, customer retention, and industry recognition highlight the necessity of enterprise transformation and digital blueprints in the success of organizations in all regions and industries as they become digital by default. It is a pleasure to support our customers with their digitalization efforts and to lead a team so focused on its mission to help businesses transform smarter.” – Gareth Burton, CEO of Orbus Software.
“We believe that sustainable decision-making is not just a corporate responsibility but a strategic imperative at the enterprise level. The Sustainability Lens in OrbusInfinity is our commitment to helping clients navigate this essential journey. It’s about making sustainability an integral part of business transformation and operational excellence.” – Gareth Burton, CEO of Orbus Software.
“We’re excited to continue strengthening our commitment to a partner-first culture in 2024. We’re building a community of skilled partners and we’re thrilled to use this to better support our mutual customers, while providing new levels of product knowledge.” – Alex Mathieson, Chief Revenue Officer at Orbus Software.