NEW FUNDING: Why Volition Capital Invested in Doing Things Media (DTM)  Read More

NEWS: Medly Pharmacy Announces Agreement to Acquire Pharmaca: Medly Pharmacy Announces Agreement to Acquire Pharmaca Expanding Free Same-Day Delivery to Include Health and Wellness Products  Read More

NEW FUNDING: Why We Invested in US Mobile  Read More

ASK JENNY ANYTHING: Volition Venture Partner Jenny Fleiss answers your questions: What Should I Expect During Investor Diligence?  Read More

SCALING SUCCESS PODCAST: Sean Cantwell interviews Paul Melchiorre for Scaling Success  Read More

Categories:
Categories:
Categories:
Categories:
Portfolio News

Black Duck Reports Record-Breaking First Quarter

JustinWood
Volition

New Customer Acquisition, Service Upgrades, and Vertical Expansion Leading Indicators for Banner Quarter

 

Burlington, MA April 23, 2013 – Black Duck Software, the trusted partner for open source software adoption, management, and governance, today announced that following a record fourth quarter the company achieved another milestone with its most successful first quarter to date. The company reported that it was a record quarter for subscriptions, with strong growth in services and upgrades from existing customers contributing to the positive results.  Existing customers expanded their use of Black Duck in response to ever-growing code bases and increased adoption of OSS.

The company also saw acceleration in M&A audit business during Q1.  In addition, businesses with extended supply chains expanded their use of Black Duck due to demand for compliance from OEMs.  The company also reported strong, continued new customer acquisition putting its customer base at well over 1,100.  In the first quarter of 2013, Black Duck added new customers Aricent, ISB Corporation, Mitsubishi Electric, and eScan Data Systems, Inc., among others.

Black Duck continues to grow beyond its standard IT, electronics equipment and software and services segments, moving strongly into mobile, collaboration/social and financial services segments. 

First quarter 2013 milestones include:

“First quarter 2013 is an excellent indicator of things to come for the year, and we’re seeing our strongest pipeline ever for Q2,” said Tim Yeaton, CEO and President, Black Duck, “We are very pleased to see the numbers reflect the excitement our customers are showing for our newest products and services and expect to see that enthusiasm pace the growth of OSS adoption.”

Similar Articles