REDWOOD CITY, Calif., Jan. 18, 2022 /PRNewswire/ — Agiloft, the global standard in no-code contract lifecycle management (CLM), today announced a record year in 2021 with a 100% increase in customer bookings, a 60% increase in annual recurring revenue (ARR), and a 72% increase in headcount. In the wake of this success, Agiloft will start off 2022 with a new visual brand and a refinement of its core company mission of delivering "Contract Management Without Compromise."
"2021 marked the beginning of a new era here at Agiloft," said Eric Laughlin, Agiloft CEO. "We saw unprecedented growth in sales and our customer base, especially in the enterprise market, and made significant additions to our team. We launched Agiloft’s powerful Connected Experiences for seamless integration with the enterprise tech stack. We greatly expanded our partner program and consistently received positive feedback from our customers, contributing to the growing list of industry awards and recognitions. Therefore, we have marked this new era with a new visual identity that conveys our key strengths: agility and empowerment."
In line with the company’s goal to expand its vertical and geographic market presence after a $45 million growth equity investment in 2020, Agiloft grew new customer sales by 100% in 2021 and boosted ARR by 60% while also maintaining a customer satisfaction score of 95.5%.
New Brand in 2022
Building on the momentum from 2021, Agiloft is launching its new visual identity and core brand message to kick off 2022. The new identity is modern and bold, friendly and relatable and portrays Agiloft’s qualities of agility and empowerment while conveying its benefits and trustworthiness. Meanwhile, its new brand message is all about the increased expansion of possibilities: "We believe our enterprise customers deserve CLM without limitations, so we work every day to ensure Agiloft is the CLM solution that provides unparalleled agility, seamless extensibility, and deep expertise," said Eric Laughlin.
Agiloft also welcomed new leadership to solidify management expertise and support continued growth. This includes Gordon Loudon as VP of Professional Services and Training, Angel Lange as VP of Finance, Anne McNulty as Senior Director of AI Success, and Dan Mosera as Senior VP of Strategic Accounts. Overall, Agiloft increased headcount by 72% in 2021 with significant hiring in implementation, sales, marketing, and customer success to serve its growing client base.
Agiloft continued to grow its Partner Program geared towards greater joint customer value and expanded partner opportunities. Focused on a strategic set of partnerships with leading resellers as well as service and technology providers, 2021 saw new alliances with Boomi, a Dell Technologies business provider of cloud-based integration platform as a service (iPaaS); Tableau, a visual analytics platform; Factor, an alternative legal services provider (ALSP); Elevate, a global law company; and most recently, Tata Consultancy Services, provider of global IT services, consulting, and business solutions.
Product Releases & New Integrations
Accelerating the development of its CLM software, Agiloft released an overhaul of its UI, released a new product module, and accelerated its development of Connected Experiences. The new intuitive interface increased user adoption and advanced capabilities for automating and integrating complex contract processes, allowing customers to quickly adapt workflows as needs change. The latest update featured Connected Experiences to empower users to utilize Agiloft CLM as a connected system of record across the organization using familiar apps like Microsoft Teams, Microsoft Word, Salesforce, and more.
Industry Awards and Recognitions
Agiloft’s strong year was validated by industry accolades by top awards and analyst firms. Most recently, Agiloft was named Contract Management Platform of the Year by LegalTech Breakthrough Awards as well as a leader in the IDC MarketScape 2021 Vendor Assessment of CLM for corporate legal. It was also ranked a top CLM vendor in the 2021 Gartner Critical Capabilities and a CLM leader in the Gartner 2021 Magic Quadrant. Additionally, Agiloft was awarded a Silver Stevie for its AI Core in the 2021 American Business Awards as well as a 2021 Business Intelligence Group Innovation Award.
Last, but not least, Agiloft CEO Eric Laughlin was named a Gold Globee Award Winner in the 2021 CEO World Awards.
As the global leader in contract lifecycle management (CLM) software, Agiloft is trusted to provide significant savings in purchasing, enable more efficient legal operations, and accelerate sales cycles, all while drastically lowering compliance risk. Agiloft’s adaptable no-code platform ensures rapid deployment and a fully extensible system. Using contracts as the core system of commercial record, Agiloft’s CLM software leverages AI to improve contract management for legal departments, procurement, and sales operations. Visit www.agiloft.com for more.
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