ActivTrak Closes Year Approaching $40M in Annual Recurring Revenue
AUSTIN, Texas, Jan. 10, 2024 /PRNewswire/ -- ActivTrak today announced results for 2023, wrapping a year of 40% growth in enterprise-class deployments as COOs and CFOs continue to grapple with the lack of data to inform productivity and returns on workforce investments.
Labor Shifts Driven by AI and Hybrid Work Fuel Need for Workforce Insights to Measure Returns
AUSTIN, Texas, Jan. 10, 2024 /PRNewswire/ -- ActivTrak today announced results for 2023, wrapping a year of 40% growth in enterprise-class deployments as COOs and CFOs continue to grapple with the lack of data to inform productivity and returns on workforce investments.
Key accomplishments for 2023 included product advancements focused on delivering high-value business impact with enterprise-ready analytics for hybrid work, including new capabilities to measure AI usage trends; new features to inform workforce planning decisions; and privacy-first analytics that exclude employees' personal identifiable information (PII) and increased compliance support for the growing number of labor and employment laws.
The ActivTrak Productivity Lab also published its second annual State of the Workplace report, one of the most direct and objective studies of productivity based on actual behavioral data. The report examined two years of anonymized insights based on 173,983,200 hours worked and was the basis for numerous stories in top-tier business media including Bloomberg, Forbes, Fortune, Wall Street Journal, Yahoo! Finance and more.
ActivTrak also added to its extensive list of annual industry awards, with repeat wins including the Deloitte Technology Fast 500 (#284), Inc. 5000 list of fastest-growing private companies (#1244), Inc. Regionals Southwest list (#46) and Brandon Hall Excellence in Technology Award (Bronze) for Best Advance in Performance Management Technology.
"2024 marks three years of a post-pandemic world, yet most organizations still lack consensus on the impact of hybrid work," said Heidi Farris, CEO of ActivTrak. "Our success this past year validates that the market for workforce analytics continues to mature and expand with ActivTrak leading the way. I'm excited to build on this growth in 2024 as we help companies realize the true value of their workforce investments."
Additional highlights for 2023 included:
- Growth: achieved 134% ARR growth over the last three years
- Customers: added 2,241 new customers, including Floor and Decor, Group 1 Automotive, Oppenheimer & Co. Inc., Security Mutual Life Insurance Company of New York and the State of Iowa (Office of the CIO), among others
- Product:
- Announced capabilities to help businesses measure, manage and mitigate the risks of AI adoption
- Introduced Workload Capacity to help leaders make decisions about headcount planning, workload balancing and resource allocation
- Added Impact Analysis to help organizations assess the effects of organizational changes on productivity and engagement
- Introduced a new calendar integration feature that measures digital and non-digital meeting for a more complete view of productivity
- Expanded privacy-first analytics by aggregating and anonymizing data, controlling access based on role and permissions, limiting data collection to business hours, and giving employees access to their data
- Expanded BI integrations and templates allowing users to combine ActivTrak data with virtually any data warehouse, BI visualization or data science tool
- Research: published quarterly benchmark studies of digital workplace behaviors across industry verticals, showing financial services employees are among the healthiest1, while healthcare employees face the greatest risk of burnout, among other findings
- Analyst Recognition: recognized as a Sample Vendor in five Gartner® Hype Cycle™ Reports.
- Awards: collected multiple workplace-related awards including Great Place To Work, Fortune Best Workplaces in Texas and BuiltIn Best Places to Work; numerous product awards including TrustRadius: Top Rated Award in Workforce Analytics, Employee Monitoring, and User and Entity Behavior Analytics; and a record number of G2 report mentions (158), including 24 badges for 'Best Of' Feature Set, Value for Price, Relationship, and more
- Partnerships: partnered with SHI International to secure NASPO ValuePoint Cloud Solutions listing, which provides the highest standard of excellence in public cooperative contracting
- Leadership: appointed Heidi Farris as CEO and board director, and named Eric Cargol as Chief Sales Officer.
In Q1 2024, the ActivTrak Productivity Lab will publish its third annual State of the Workplace report, which will examine digital workplace behavior across productivity, technology and well-being, including a special focus on the impact of AI adoption trends. Click here to add your name to the list and receive a copy when the report goes live.
To learn more about ActivTrak's workforce analytics platform, visit:
About ActivTrak
ActivTrak helps employers and employees work better together to realize their full potential. Our workforce analytics cloud provides visibility and insights across people, processes and technology to help organizations inform key decisions and optimize outcomes. More than 9,500 customers trust ActivTrak, which has been recognized by the Deloitte Technology Fast 500, Inc. 5000 and Brandon Hall Excellence in Technology award. Founded in 2009, and based in Austin, Texas, ActivTrak is backed by Sapphire Ventures and Elsewhere Partners. To learn more visit: https://www.activtrak.com/.
1 When an employee's productive hours a day are within 30% (+/-) of their productive hours a day goal
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SOURCE ActivTrak
