Enterprise transformation platform provider, Orbus Software, has experienced significant growth, with its flagship SaaS platform, OrbusInfinity, growing by a remarkable 56% in 2023, reported Director Dan Stewart. The increase is 26 times greater than its December 2020 value, revealing a considerable increase within a three-year span since receiving growth capital from SilverTree Equity and transitioning to a subscription revenue model. This achievement facilitated Orbus Software's profitability in Q3 2023, a quarter earlier than forecasted, and facilitated the complete refinance of the company's debt with provider Golub Capital in Q4 2023.
In relation to its growth, Orbus strengthened its footprint in Australia by increasing local hires by 30% and appointing Peter White as the APAC Managing Director in November 2023. Carrying 30 years of experience in strategic management, Mr White has held positions in global enterprises such as Envirosuite, Hewlett-Packard, Motorola, Nokia, and Siemens.
"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. "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."
Demonstrating its significant growth, the company sustained its notable net revenue retention rate of 112% from 2022, and improved its cloud customer retention from 96% in 2022 to 97% in 2023. Its SaaS customer growth expanded by 50% from 2022 with new customers such as the City of Gold Coast, Australian Institute of Health and Welfare, and Isaac Regional Council.
Orbus’ customer base is continuously expanding, spanning various sectors, with government being the major contributor making up 31% of new customers. Other industries such as finance, energy and utilities, and manufacturing demonstrated the need for strategy, transformations, business process, and regulatory requirements. Furthermore, Orbus continues to aid its clientele in their transformation to the cloud, managing risk and technical debt, including customers like Alaska Airlines, Mizuho Bank, Australian Red Cross, and United Parcel Service (UPS).
Orbus launched new capabilities in 2023 to align with its cloud expansion, including its Sustainability Lens. This feature offers extra analysis metrics that allows OrbusInfinity users to incorporate sustainability aspects into their strategic decision-making processes.
Gareth Burton, CEO of Orbus Software, sees the need for digital transformation as essential for success. He says, "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 organisations in all regions and industries as they become digital by default."
Orbus also highlighted its continued commitment to a partner-first culture and the building of a community of skilled partners. Alex Mathieson, Chief Revenue Officer at Orbus Software, finds excitement in "strengthening our commitment to a partner-first culture in 2024. We're building a community of skilled partners and were thrilled to use this to better support our mutual customers, while providing new levels of product knowledge".
The greatest proof of Orbus' success was its recognition as a leader in the 2023 Gartner Magic Quadrant for Enterprise Architecture Tools, where it was the leading independent SaaS provider.