Digital transformation and market pressure to create smart, connected products fuels over 150 new customer wins and expansions
Today, Jama Software, provider of the leading product-development platform for companies building complex products and integrated systems, announced strong revenue results for the first half of its fiscal year. With an increase in new license bookings of 73 percent and more than 150 new and expansion customer wins, the company enters the second half of its fiscal year well positioned for continued growth.
The Jama Product Development Platform helps companies modernize, digitize and transform their entire product development processes, speeding time to market and cutting development, validation and verification costs.
“Market pressures and product complexity are driving massive changes – not only in the types of products that companies create and sell – but also how they go about developing those products,” said Scott Roth, CEO of Jama Software. “Jama’s product development platform directly addresses these challenges.
“The market is responding,” Roth continued, “as we continue to drive strong financial performance and rapidly add customers.”
Significant new customer wins and expansions in first half 2018 include: Anthem, GM-Cruise Automation, HCA, Viasat, Merck, Rivian Automotive, Nikola Motor Company, Virgin Orbit, Tektronix, Lyft-Level 5 and Leica Microsystems, among others.
“Manufacturing firms with decades of experience developing products are facing rough seas as democratized product development, digital capabilities and as-a-service business models sink their status quo,” according to a recent Forrester report.1 This well-documented trend highlights the difficulty for well-established market leaders to navigate the next generation of smart, connected products while still maintaining their competitive edge. Tools that help manage this complexity while not losing sight of market windows are critical for companies to have successful next-generation innovation. By helping both disruptors and well-established market leaders develop successful digitized products and realize the potential of digital transformation, Jama has emerged as the product development platform of choice.
To drive continued rapid growth, Jama also added key staff and expanded its international footprint during the first half. The company hired Laura Trotter, who brings extensive high-tech hardware, software and SaaS marketing experience to Jama, as VP of marketing; and, as VP of engineering, John Gasper brings to Jama more than 25 years of experience with large-scale enterprise software, and critical business processes and workflows, as well as big data and analytics. Jama also successfully opened its European headquarters in The Netherlands, led by founder Eric Winquist, and is scaling up the team.
1 “Vendor Landscape: Product Lifecycle Management Solutions, The Internet Of Things And Product Digitization Make Product Lifecycle Management Solutions A Vital Piece Of The Digital Strategy Puzzle,” Forrester, August 18, 2017
About Jama Software
Jama Software provides the leading platform for requirements, risk and test management. With the Jama Product Development Platform, teams building complex products, systems and software improve cycle times, increase quality, reduce rework and minimize effort proving compliance. Representing the forefront of modern development, Jama’s growing customer base of more than 600 organizations includes SpaceX, Boston Scientific, Lyft, Deloitte, Alight, Samsung and Caterpillar.