UK based DueDil announced that it increased sales with a traditional sales and revenue approach. The freemium model appears to be dead. Long live the subscription model. The decision was taken by DueDil in February 2015 to focus its sales efforts on enterprise customers, moving away from its previous freemium model.
Enterprise sales in full-year 2015 increased 160% on 2014 figures. In Q1 2016, DueDil sales hit a new record, up 47% year-on-year, with new customers including Credit Suisse, WeWork and Savills PLC. March 2016 was also the company’s best ever month for sales, up 130% on-year.
DueDil Co-founder and CEO Damian Kimmelman said: “We are proving that DueDil helps our users find new customers and avoid risks when working with other businesses, enabling them to generate substantial returns on their investment. These figures demonstrate that more and more companies appreciate the value of DueDil and show that we are well on the way to becoming the next global fintech success.”
DueDil will build on the sales figures by increasing headcount to 120 by the end of 2016, up 53% from Q1 2016. The company has also brought in new leadership, with Nick Noyer joining in Q1 as VP of Marketing. Noyer was previously Director of EMEA Marketing and International Strategy at Box, and he will lead DueDil’s marketing efforts as its solution continues to be adopted across enterprises and in new markets. DueDil now plans to grow its sales team further through the creation of an Inside Sales team, which will focus on creating partnerships with small and medium-sized business. It will also continue to build its customer success team, which works to support successful adoption and usage of DueDil at companies who already use the tool.
In Q1, DueDil also launched DueDil Connect, a new feature that transforms how teams can find key business leaders and contacts by linking their networks together with comprehensive company information. The company plans to launch several new features in the rest of 2016 that will incorporate new datasets and provide additional functionality to the DueDil tool.
Source: DueDil Press Release