Acquisitions, Rebrand, Sales Acceleration, Market Expansion, Continued Innovation, and Industry Recognition Fuel SaaS Company’s Unprecedented Growth and Success
Toronto, Canada – February 15, 2018 – In 2017, Cority emerged as the definitive leader in the high-growth Environmental, Health, Safety and Quality (EHSQ) software market. Some 2017 milestones included:
- Named a top Leader by independent industry analyst, Verdantix, moving up the 2017 Green Quadrant more than any other vendor
- Acquired and integrated Environmental Compliance Management Software company, regAction, to rapidly accelerate Cority’s Environmental roadmap
- Acquired Quality Management Software company, IQS
- Executed a full rebrand and positioning as a full-spectrum EHSQ company
- Launched EHS Professional Edition for Mid-Market companies
- Launched a formal Analytics Program with leading Enterprise customers including Tri-State Generation and Transmission Association, Whiting Petroleum, Southern Star Central Gas Pipeline, Westmoreland Coal Company, Shaw Industries Group, Inc., Toyota Engineering & Manufacturing America (TEMA), and Seattle City Light
- Activated a formal Partner Channel to propel global reach and growth as well as enhance its solution through partnerships with companies such as ERM, RegScan and Specialty Technical Partners (STP)
- Worldwide employee growth of nearly 50%
Cority’s Sales Team continued its rapid global growth, delivering the highest overall annual sales result, the most new enterprise logos, the highest sales to existing customers, the largest deal sizes, and the greatest pipeline build in the company’s 30+ year history.
The company achieved record results across all financial metrics in 2017, including revenue and profitability. Cority’s total revenue grew by 35%, recurring revenue grew by 44%, and profits grew by 34%, contributing to a 5-year compound annual growth rate of 30%.
Cority’s predictable, reliable delivery and operations enabled Cority to continue to invest significantly above market benchmarks in R&D to provide continuous innovations and value for its growing tier one customer base. New development included significant enhancements to the company’s Business Intelligence, Waste Management, Clinical Testing, and Incident Management solutions.
The Professional Services team once again saw a 100% deliver-to-production rate in 2017, powered by its purpose-built workflows and proven methodology.
In addition to record growth, the company maintained leading customer satisfaction ratings and engagement. Cority continued to be recognized for its strong corporate culture winning Aon Best Employers Award, Canada’s Most Admired Corporate Cultures, making the PROFIT 500, and seeing CEO Mark Wallace recognized as an EY Entrepreneur of the Year Finalist.
“2017 was a pivotal year for Cority and our continued global growth and success is a testament to our unwavering commitment to our clients,” said President and CEO Mark Wallace. “It is an honor to lead such a dedicated team of professionals that are driven to make our planet a safer, cleaner and more successful place to live and work.”
Cority (formerly Medgate) is the most trusted environmental, health, safety, and quality (EHSQ) software for assuring client success. Cority enables organizations to utilize EHSQ software to advance their journey to sustainability and operational excellence by combining the deepest domain expertise with the most comprehensive and secure SaaS platform. With 30+ years of innovation and experience, Cority’s team of over 250 experts serve more than 800 clients in 70 countries, supporting millions of end users. The company enjoys the industry’s highest levels of client satisfaction and has received many awards for its strong employee culture and outstanding business performance.