IGEL Reports Record Growth Driven by Increasing Global Adoption of Cloud-Delivered Digital Workspaces
Demonstrated Success Reflects Accelerated Adoption of IGEL OS Software Which Has Become the De Facto Standard for Accessing VDI and DaaS Workspaces for the Distributed Workforce
IGEL, provider of the next-gen edge OS for cloud workspaces, announced record results for the year ending December 31, 2020. These results are driven by record-breaking sales of IGEL OS, the software that powers cloud workspaces and virtual desktop infrastructure (VDI) to enable secure, productive work from anywhere. During 2020, IGEL increased recurring software products and services revenue by over 150%, year-over-year, worldwide. This is complemented by multiple business milestones achieved for customer adoption, deal size and software sales, globally.
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“IGEL is a leading voice in today’s end user computing (EUC) revolution where the modern worker needs to remain as productive at home or on the road as they are in the office,” said Jed Ayres, CEO, IGEL. “This has given rise to an extraordinary opportunity for our next-gen edge software which is quickly becoming the de facto standard for connecting to the virtual and cloud-delivered digital workspaces that are transforming end-user computing experiences around the globe. As a result, we are experiencing an exponential growth trajectory for IGEL across all metric areas.”
IGEL has seen a triple-digit growth rate over the past five years in billings, margin, and units. This progress is being further infused by a recent growth investment from TA Associates, which signed a definitive agreement to make a majority investment in the company last month that closed on March 23.
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Achievements Across Key Business Metrics
IGEL’s record growth during 2020 is being seen across all regions, business lines, and company guideposts. Significant global growth achievements include:
- Software sales outpace hardware. IGEL’s revenue split between software and hardware in 2020 shows increasing momentum for software sales. Non-hardware sales contributed 64% of 2020 revenue worldwide, up from 52% in 2019.
- Strong software sales across regions. Billings for software sales during 2020 increased 52% in the EMEA market and 40% in North America.
- New customer adoption. IGEL has seen significant customer growth and is now operating on over 4 million endpoint devices.
- Deal size growth. In 2020, IGEL billings for deals over $100,000 grew 10% compared to the same period in 2019.
- Shorter sales cycles. IGEL’s average deal close rate dropped from 156 days to 76 days.