Quentic is continuing its upward trend. In the first six months of the year, the SaaS solution provider for Environment, Health, Safety (EHS) and Corporate Social Responsi-bility (CSR) has gained more than 50 new customers. As a result, the company once again increased its recurring revenue by 50 percent compared to the same period last year.
This positive development can be ascribed to the firm expanding its international activities and enjoying brisk business with existing and new customers. The Quentic platform is today used by around 650 companies in more than 50 countries. New customers acquired in 2019 include MEYER WERFT GmbH & Co. KG, PostBus AG, and ABB AG – Calor Emag Medium Voltage Products.
Further European locations in the pipeline
At present, the solutions provider of Software as a Service (SaaS) has 11 offices in 7 countries. “Quentic reinforces occupational safety, environmental management, and sustainability in companies throughout the world. During the first half of the year, the number of our employees has increased from 140 to over 200. We will continue to grow by setting up even more locations. In recent months, we’ve opened offices in Munich, Belgium, and Switzerland and more subsidiaries in Europe will follow later this year,” said Markus Becker, Quentic’s CEO.
The expansion of international business activities is supported by Quentic’s existing investors. In May, One Peak Partners and Morgan Stanley Expansion Capital invested an additional €15m of growth capital. Dr. Björn Schmidt, CFO of Quentic, stated: “We’re pleased about the strong backing we receive from our shareholders. Thanks to the renewed funding and our excellent market position, we will expand our presence in Europe.”
Expansion of the software platform
The company continues to invest in the further development of its software platform. With the latest version, released in June, Quentic connects to an external business intelligence solution, thus providing users with an intuitive dashboard with key safety metrics. The integration with Enhesa for automatic updates of legal norms and obligations has also been extended. “With upcoming releases, we will significantly extend the Risks & Audits module, both in the web platform and in the mobile app. We will also run several pilot projects to validate the applicability of artificial intelligence in EHS,” said Dr. Mario Lenz, CPO of Quentic.