With 70% more customers, it is a good end for a strange year 2021.
With 2021 ending, it’s a good moment to do some retrospective about this year. For us at IndoorAtlas, like with pretty much everyone else, the past two years have been very different from what we expected at the end of 2019. The pandemic has had huge impact on how we work and on our business. I have to say it has been tough: as a company offering indoor positioning services mostly used in large indoor venues, it goes without saying that the lockdowns of large indoor venues across the globe have taken their toll. Many operators of large venues have had a tough time, making investment decisions harder to make.
We continued to work hard this year and released our crowd density monitoring product, GroundSage, both as end-to-end solution as an SDK. It helps safe operations of large venues. We also released our georeferenced augment reality (AR) SDK early this year. Our AR technology has sparked a lot of interest in the market, and has resulted in commercial projects already.
The good news is that despite 2020 having been a difficult year, IndoorAtlas increased its revenue from 2019. Not like we planned, but there was growth, nevertheless. Now at the end of 2021, I am happy to say that we also grew from 2020 – both in terms of revenue but especially in terms of number of new paying customers. In 2021 we saw growth of over 70% in the number new customers.
Since IndoorAtlas operates mostly through partners, signing up new paying customers actually means signing up with more partners. Around 90% of our revenue comes through partners, with the remaining mostly coming from direct clients. As a core technology provider, we don’t have that many direct customers (i.e., customers with end-users), since in most cases the end user facing solutions are brought to market by our partners. To support our growing number of partners we launched our partner program, which has been very well received.
With regards to new major technology partners, we became a partner of Aruba Networks this year. We continue to be excited about our co-operation with them and see a lot of opportunities in this relationship. We also became an ISV partner of Zebra. Both relationships are beneficial not only to IndoorAtlas but also for our solutions partners.
As an important aside, we don’t calculate individual venues as customers, but rather if a partner deployed for instance 10 venues, for us that’s still one partner account. What that means is that we’ve setup our company for growth with partners: in most cases our partners serve more than a single venue and they have interesting sales pipelines themselves. With the existing partners scaling their business using our products and IndoorAtlas continuing to sign up new partners, we feel that we’re well positioned for 2022.
To learn more about IndoorAtlas, please check out our beautiful new web site.
But now with the holiday season upon us, it’s time for a short rest!
Wishing you a good holiday season and Happy New Year,