OpenLogic's Open Source Governance Platform and Consolidated Open Source Support Drive 41% Growth and 100% Renewal Rate
BROOMFIELD, Colo. October 28, 2009 - OpenLogic, Inc., a provider of enterprise open source software support and open source governance solutions encompassing hundreds of open source packages, today announced record third quarter results that show increased interest in open source usage across various vertical industries and company sizes.
For the third quarter of 2009, OpenLogic saw 41% increase in revenue over the same period in 2008. OpenLogic also closed its highest number of sales transactions and the largest number of new customers in the company's history and saw 100% renewal rates with existing accounts.
Some of the key drivers for OpenLogic's growth:
OpenLogic is seeing more people proactively looking for OSS support and governance – more than 75% of new customers come to OpenLogic as inbound leads who are actively looking for open source solutions.
The top projects supported remained the same – JBoss, Apache, Tomcat, MySQL and PostgreSQL.
The strongest growth for open source support came from MySQL support and PHP support.
Financial services remained OpenLogic's largest vertical market. Technology is now number #2, followed by the healthcare industry at #3.
The two fastest growing industries are government/higher education and technology.
Large enterprises represent 60% of OpenLogic customers, however the fastest growth is in the midmarket sector.
"Obviously we are pleased with our growth as interest in our open source governance platform and our consolidated low cost support for open source projects grows," said Steve Grandchamp, CEO of OpenLogic. "We also see our results as an indication that open source usage within large and midsized companies is accelerating. Companies are now proactively evaluating open source solutions as a way to reduce costs and look to OpenLogic to provide the open source support and governance they need to make the transition."