2021 was a year of tremendous growth, progress, and momentum for Incorta. We expanded our leadership team, hit record customer and revenue growth, scaled go-to-market operations globally, invested in our partner ecosystem, and turned up the dial on product innovation even further.
This is our moment. Over the past two years, organizations everywhere discovered that data analytics technologies put in place over the last decade are no match for analytical demands of the the world we live in today. The urgency to modernize data analytics technology and strategies is at all-time highs.
Incorta is ready.
I joined Incorta as CEO in January 2021. In June, we announced $120 million in Series D funding to expand operations, double down on product innovation, and lay the foundation for hypergrowth in 2022 and 2023. From there, we were off to the races:
We brought on Darryl Banks as Chief Revenue Officer; Greg Peters as Chief Customer Officer; Sheri Kelleher as SVP People and Places; Steve Walden as EVP Business Development; and we’ve recently added Rob Dillon as Chief Financial Officer. Jacques Nadeau, co-founder of Dremio and one of the creators of Apache Arrow, joined our advisory board, and will help shape Incorta’s future plans for innovation and open source contributions.
In addition, we made investments in the marketing team, including new leadership with the hire of Emily Lewis as VP of Marketing and Louise Westoby as VP of Product Marketing.
We also increased the size of our sales team fivefold. We expanded our global footprint, with new offices and teams in APAC, EMEA, and North America. All in all, we brought on 150 new Incorta associates, most with deep prior experience in the data analytics space.
Our ability to attract such high-caliber talent is a testament to Incorta’s unified data analytics platform (UDAP) and our mission to simplify and speed up the process of delivering operational data and analytics to business users.
Of course, true validation ultimately comes from customers, and we have that in spades. Going into 2021, our customer base already included the world’s most valuable company, as well as category leaders in streaming entertainment, social networking, semiconductors, e-commerce, and retail.
During the year, we increased new customer growth by well over 50% and experienced record growth in revenue, with Q3 and Q4 2021 being the highest-grossing quarters in the company’s history, eclipsing full year 2020 revenue in the six months ending in December 2021 by more than 20%.
We invested a lot in Incorta Cloud in 2021 as well, making it as powerful and performant as our on-premises product, and we are already seeing the fruits of that effort. Our cloud customers are rapidly expanding their usage in terms of the number of users, use cases, and the amount of data being analyzed with Incorta.
Customers often start with Office of Finance applications and knock out a few high-stakes use cases that were impossible to solve before Incorta. Before they know it, Incorta is solving problems throughout the rest of their organization, especially in the supply chain and human capital management departments — critical areas for every CFO and CEO today.
Based on the continuing market and customer momentum we experienced in 2021, I am very bullish on 2022. Organizations want to expand the use of data in their organization. There’s a newfound urgency to use data not just to accelerate business performance but also to take care of employees, customers, and the community at large. Our unified data analytics platform helps them do that better, faster, and more efficiently than ever before.
Looking ahead, 2022 will be a year that Incorta becomes even more accessible and relevant across customer organizations. We will continue to advance the ease of use of our product, making it the most powerful, intuitive, low-code data analytics platform in the marketplace. For organizations rethinking their data and analytics strategy in the light of today’s new demands and requirements, Incorta is perfectly positioned to meet those needs.
Here’s to the year ahead. Our moment is now. We are ready. Together we go far!
