San Jose, Calif., Jan. 27, 2011 Baynote, a leader in personalization and digital marketing optimization, today announced that the company achieved several milestones in its fiscal year ending on Dec. 31, 2010 (FY10). These achievements include a 75 percent increase in recurring annual revenues compared with the previous fiscal year. The news follows on the heels of Baynote’s recent Series C funding, advancing the company’s momentum into 2011 as demand for its adaptive web solutions among digital marketers and online retailers continues to grow worldwide.
“Baynote’s momentum is consistent with the tremendous pressure that digital marketers and e-commerce teams are under to deliver engaging customer experiences that make an impact on the bottom line,” said Doug Merritt, president and CEO, Baynote. “Baynote’s success is indicative of the fact that our solutions have a highly measurable value proposition for this audience. Our adaptive web solutions allow them to automatically optimize the user experience at every digital interaction they have with their customers.”
The rising need for digital marketers and e-commerce professionals to rapidly adapt to their customers’ constantly changing expectations fueled Baynote’s growth across multiple vertical industries. During the year, Baynote surpassed its 300th customer implementation, signing new contracts and expanding existing ones with Fortune 500 brands in the media, retail, telecommunications, consumer products, entertainment, healthcare, hi-tech manufacturing, travel, insurance, software and financial services industries.
Industry Awards and Recognition
Baynote proved its value as a technology leader and service provider to vertical industries including financial services, marketing and advertising through recognition by three reputable third party organizations in late 2010 and early 2011:
- JMP Securities, a San Francisco-based investment bank, selected Baynote to be featured in “The Hot 100: The Best Privately Held Software Companies.” The report profiles 100 of the leading private companies in the software industry, as identified by the software research team at JMP Securities, and recognized Baynote in the Application as a Service category alongside Marketo, Lithium, Jive, Bazaarvoice and Marin Software
- Bank Technology News listed Baynote as one of “10 Technology Companies to Watch” in 2011
- AlwaysOn included Baynote in the “2011 OnMedia 100 Top Private Companies” list of leading digital media companies operating in the advertising, marketing, and content publishing sectors. Other companies on the list include Facebook, Yelp, Twitter and Groupon
Product Momentum and Innovation
During the year, Baynote significantly advanced its product portfolio with the launch of the Baynote Adaptive Web Suite™, an integrated set of applications that automatically adapts the customer experience across digital touch points, including web, mobile and email, in real-time. The adaptive web is a higher standard in customer experience that helps companies increase revenue, boost conversions and strengthen loyalty by ensuring that every digital experience is relevant, personal and convenient.
“I think that applications that provide actionable customer insight could be the most explosive and perhaps the most important applications we will see in 2011 and beyond,” said Paul Greenberg, president of The 56 Group. “Baynote is a part of this class of applications that I hope will lead the charge in 2011 to provide companies with what they need to make the customer’s experience what the customer wants. What makes Baynote interesting is that they do it with real-time actions taken on real-time insight about that customer – adapting to the behavior of that customer while they are online.”
During 2010, Baynote established and deepened partnerships with several services and technology leaders around the world, extending its adaptive web capabilities to organizations across six different continents and 20 countries. Key partners include Bazaarvoice, Bronto, CSK, Demandware, Endeca, ExactTarget, hybris, Lithium Technologies, Marin Software, Open Text, Responsys, Sapient, Silverpop, StoneBridge, Thanx Media and T-Systems.
Baynote provides personalization and digital marketing optimization solutions that power the adaptive web, an emerging standard in customer experience that is always personal, relevant and convenient. By observing engagement patterns among like-minded individuals to understand user intent, the Baynote Adaptive Web Suite™ automatically optimizes and adapts the online experience, leading to increased conversions, revenue and loyalty. Baynote’s customers include: AT&T, CA Technologies, Dell, Expedia, Intuit, Fox, Urban Outfitters and VEVO. The company is based in San Jose, Calif. with additional offices in the U.K. and Germany. For more information, please visit www.baynote.com.