Board International Reports Strong First Quarter Growth
Software company Board International announced a 53% increase in total software ARR for the first quarter compared to the same period last year.
Board International reported a strong start to 2021, with total software Annual Recurring Agreement (ARR) increasing by 53% in the first quarter compared to the same period in 2020. The company announced these results on Tuesday, May 25, 2021.
The company saw new software ARR orders increase by 83% quarter-over-quarter, adding new clients such as American Seafoods Group, Caixa Bank, and Acne Studio to its roster. Board also registered a Net Customer Retention Rate of 116%.
Board International has increased its headcount by 10% this year, hiring 57 new employees in the first quarter. This expansion aims to meet increased demand and accelerated product advancements. The company is also strengthening its global partner ecosystem.
Analyst firms have also recognized Board's value, naming it a leader in Gartner Peer Insights' Cloud Financial Planning and Analysis Solutions and receiving multiple other industry accolades in Q1.