A Leading Provider of Data Monitoring and Collection Solutions Initiates Strategic Expansion
Connotate, Inc. announced record growth in second quarter 2012 revenues, with bookings increasing by more than 40 percent compared to the first quarter 2012. This marks the second consecutive quarter of record growth for the company. As a privately-held, venture-backed software firm, Connotate does not release specific revenue figures. However, Connotate executives publicly stated that the quarter ending June 30, 2012 marked a significant milestone in the company’s success in gaining market traction.
Keith Cooper, CEO of Connotate, stated: “We saw big wins among customers who intend to use our technology to generate new and potentially huge revenue streams in the areas of statistical analysis, competitive intelligence, supply chain monitoring and financial investment.”
Also during the quarter, Connotate increased headcount in engineering, sales and marketing to better position the company for continued growth. In particular, Connotate is ramping up its focus on opportunities within the financial market, adding dedicated staff and services targeting specific use cases including investor trading, hedge funds and retail banking. In addition, Connotate opened a new office in the United Kingdom, the first of several planned initiatives to expand its international operations to meet the growing global demand for automating real-time online data collection.