Configit generated strong results in 2021 after conversion to subscription-based business
Configit delivers business-critical software for the configuration of complex products in advanced manufacturing. In 2021, the company grew annual recurring revenue (ARR) by 42% and accelerated the transition to subscription-based business by doubling license sales volume. Configit expanded in existing and new markets, entered new partnerships, secured a larger pipeline and raised capital from existing shareholders and key employees to continue the fast-paced growth in the coming years.
”2021 was a busy and good year for Configit as we continued to execute on our 2023 strategy and generated strong results from the efforts to convert our business to a subscription-based model, which enables long-term strategic customer relationships with the largest global brands, while securing a strong foundation for Configit’s continued growth. The year was characterized by geographic expansion and new partnerships with strong players such as PwC in Germany and with Unity to add visualization capabilities to our technology by combining our best configuration software with Unity’s leading visualization technology,” said Johan Salenstedt, CEO of Configit.
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