ControlUp, a leading name in the field of Digital Employee Experience (DEX) management, has announced a year of considerable growth for 2023, particularly in Q4, with a 65% rise in year-on-year growth. The company's success, attributed to a robust demand for DEX services, has allowed it to lay foundations and make significant strides in the worldwide adoption of its solution suite.
The company prided itself on a phenomenal year with double-digit growth in Annual Recurring Revenue (ARR). The fourth quarter of 2023 saw a surge in ControlUp's new ARR, exceeding prior years by more than 65%. The company also saw a rise of 40% in the total number of managed endpoint seats globally, now exceeding five million.
ControlUp's rapid growth synchronises with the mushrooming demand for DEX tools, as predicted by Gartner, a leading research-based advisory company. Gartner anticipates the DEX tool market to reach USD $476.8 million by the end of 2023 and forecasts a compounded annual growth rate of 17.3% through 2027. Furthermore, it estimates that by 2025, the DEX strategy and management tool will be operative in 50% of IT organisations, escalating from less than 20% in 2023.
Jed Ayres, CEO of ControlUp, said: "ControlUp is poised to uniquely capitalise on the growing DEX industry as the only solution to deliver the real-time visibility and automated remediation companies need to truly analyse, automate and improve secure digital employee experiences to advance the productivity of business."
He went on to add: "The distinction of offering truly real-time visibility is driving ControlUp's market share and dramatically boosting company growth. We anticipate continuing this double-digit growth and have positioned ourselves to capitalise on this momentum with a growing team, new offices and increased investment into our robust channel ecosystem."
ControlUp has also been expanding its North American operations to keep pace with its expanding business. The company has recently opened a new headquarters office in San Francisco, a new centre of excellence in Fort Lauderdale, Florida, and a new sales office in New York City. ControlUp also plans to inaugurate an office in London, UK, furthering its global footprint.
Looking back at 2023, ControlUp boasts of significant milestones that include a 30% increase in virtual desktop seats under management, a staggering 120% increase in physical desktop seats under management, and a 250% growth in engagement in the ControlUp Community, which has now expanded to over 1,750 members spanning 1,200+ companies in 50 countries. Major alliances were also announced with enterprises such as ServiceNow and IGEL.
Michael Quirin, Partner at Alchemy Tech Group, the ControlUp American Elite and Global Partner of the Year, said: "ControlUp has set itself apart in the DEX market with the most innovative real-time visibility technology paired with the most passionate and experienced team of go-to-market leaders. Together, we are helping our mutual customers shift from just managing endpoints to truly empowering them, increasing user productivity and security while decreasing management effort and cost."