ElectroNeek Continues Rapid Growth


ElectroNeek Continues Rapid Growth

By Greg Tavarez

ElectroNeek is an RPA vendor that offers drag-and-drop no code/low-code instruments to build, test and deploy RPA bots in cloud and on-premise environments. Showing continued growth, the company announced its first quarter 2022 results.

For Q1 2022, the company reported that its annual recurring revenue (ARR) increased by 60%. The driver behind the continuous ARR growth is ElectroNeek’s performance throughout global regions, leaving a global footprint on the industry with its focus on local partners’ success. For Q1 2022, North America brought 36% of new revenue, Latin America brought 35% and APAC brought 29%.

ElectroNeek also reported that its investments in customer success focused on its partners' business growth and drove further net revenue retention, or NRR, beyond SaaS industry standards, 135% compared to 121% a quarter ago.

 “ElectroNeek will continue its mission to accelerate the business of its partners with disruptive hyperautomation tools like RPA, OCR and process mining and to bring all these exciting technologies to traditionally underserved SMB markets via service model,” said Sergey Yudovskiy, co-founder and CEO, ElectroNeek.

ElectroNeek partners have been able to achieve 10x ROI in hyperautomation services in North America and Europe, and in regions where automation of SMB processes is rising, like India and Brazil.

ElectroNeek defined customer success as the growth of their partner’s revenue from the deployment of hyperautomation solutions, including recurring revenue coming from subscriptions. ElectroNeek helps its partners in various ways, from going through business plan fundamentals to scaling up marketingwith co-branded webinars.

ElectroNeek is exhibiting at MSP Expo in Ft. Lauderdale, Florida, June 21-24, 2022, where attendees can hear MSP business owners and technology specialists share strategies on how to grow managed services businesses as part of the #TECHSUPERSHOW experience. #TECHSUPERSHOW includes nearly a dozen collocated business technology events that bring buyers, users, sellers and partners together under one roof to educate and build business relationships around the technologies driving business success today. ElectroNeek, a Platinum Sponsor, will exhibit at Booth #317.

Edited by Erik Linask

MSPToday Editor

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