Thank you for Subscribing to CIO Applications Weekly Brief

Quickbase hits $200M revenue, demonstrating profitability and sustainable growth
By
CIO Applications | Thursday, March 30, 2023

BOSTON: Quickbase, the application platform for dynamic work, today announced a financial milestone of $200M in revenue in 2022. Newly released financials indicate rapid growth, smart investments, and scalability in a volatile tech market due to macroeconomic shifts. At a time when nearly every organization is facing inefficiency and being tasked to do more with less, Quickbase is giving organizations the tools they need to see, connect and control their workflows through its customizable and scalable platform and services. Quickbase works with nearly 6,000 organizations worldwide, including the top telecommunications, healthcare, retail, manufacturing and technology companies in the Fortune 100 to help them solve their complex problems. This recent growth has been fueled by both large deals with new customers and scaled contracts with existing organizations.
“What we hear from many business leaders today is they are desperate to cut costs and work more efficiently. While the last 10 years have brought about a boom in software solutions that address specific needs, the fact is it’s created massive fragmentation where tools live on their own islands, and it’s not working,” said Quickbase CEO Ed Jennings. “The biggest opportunity for organizations to not only survive in today’s turbulent market, but thrive and grow, is to connect the tools, systems, and teams already in place. This is why more and more organizations are seeing the value of both the Quickbase platform and services.”
Over the last year, Quickbase has accomplished noteworthy milestones, including:
• Bolstered industry solutions across construction, real estate, solar and infrastructure
• Acquired MCF Technology solutions to build out domain and services capabilities
• Enhanced platform capabilities, including predictive performance insights and optimization, new integrations and connectivity, and visual dashboards
• ARR (annual recurring revenue) of $215m with more than 57 percent coming from Enterprise customers (companies with greater than 1,000 employees)
• Exponential increase in platform traffic over the last three years
• SaaS Rule of 50 company demonstrating a balance of growth and profitability
“This financial milestone is a testament to the fact that we’ve found a critical problem facing organizations and have built a product that gets at the heart of where companies are struggling,” shared Steve Webber, Chief Financial Officer. “Quickbase gives businesses what they need to work more efficiently with the tools they already have, and this is backed by the fact that companies are continuing to invest and find value in our product.”
Beyond its profitability, Quickbase as an organization has grown its headcount nearly 60 percent over the last three years, and has expanded its presence in Bulgaria, the UK, and India, as well as across the U.S. In addition, Quickbase has invested in several strategic leadership hires in recent years, including a new CIO Dalan Winbush, General Counsel Akin Adekeye and product management leader, Debbi Roberts to continue this momentum.
This announcement comes at a critical stage in the company’s growth and recognition. Most recently, Quickbase was named by Inc’s Best in Business and one of the best places to work in Boston. Moreover, over recent years, Quickbase has been the only company featured in three leading analyst reports including, The Forrester Wave: Collaborative Work Management Tools (Q4 2022); Gartner's Magic Quadrant for Low Code Application Platforms for the Enterprise (Q4 2021); and The Forrester Wave: Low Code Development Platforms for Business Developers (Q4 2021). Quickbase is majority owned by Vista Equity Partners, following a 2019 deal.
“What we hear from many business leaders today is they are desperate to cut costs and work more efficiently. While the last 10 years have brought about a boom in software solutions that address specific needs, the fact is it’s created massive fragmentation where tools live on their own islands, and it’s not working,” said Quickbase CEO Ed Jennings. “The biggest opportunity for organizations to not only survive in today’s turbulent market, but thrive and grow, is to connect the tools, systems, and teams already in place. This is why more and more organizations are seeing the value of both the Quickbase platform and services.”
Over the last year, Quickbase has accomplished noteworthy milestones, including:
• Bolstered industry solutions across construction, real estate, solar and infrastructure
• Acquired MCF Technology solutions to build out domain and services capabilities
• Enhanced platform capabilities, including predictive performance insights and optimization, new integrations and connectivity, and visual dashboards
• ARR (annual recurring revenue) of $215m with more than 57 percent coming from Enterprise customers (companies with greater than 1,000 employees)
• Exponential increase in platform traffic over the last three years
• SaaS Rule of 50 company demonstrating a balance of growth and profitability
“This financial milestone is a testament to the fact that we’ve found a critical problem facing organizations and have built a product that gets at the heart of where companies are struggling,” shared Steve Webber, Chief Financial Officer. “Quickbase gives businesses what they need to work more efficiently with the tools they already have, and this is backed by the fact that companies are continuing to invest and find value in our product.”
Beyond its profitability, Quickbase as an organization has grown its headcount nearly 60 percent over the last three years, and has expanded its presence in Bulgaria, the UK, and India, as well as across the U.S. In addition, Quickbase has invested in several strategic leadership hires in recent years, including a new CIO Dalan Winbush, General Counsel Akin Adekeye and product management leader, Debbi Roberts to continue this momentum.
This announcement comes at a critical stage in the company’s growth and recognition. Most recently, Quickbase was named by Inc’s Best in Business and one of the best places to work in Boston. Moreover, over recent years, Quickbase has been the only company featured in three leading analyst reports including, The Forrester Wave: Collaborative Work Management Tools (Q4 2022); Gartner's Magic Quadrant for Low Code Application Platforms for the Enterprise (Q4 2021); and The Forrester Wave: Low Code Development Platforms for Business Developers (Q4 2021). Quickbase is majority owned by Vista Equity Partners, following a 2019 deal.
More in News
Medical education has been transformed by simulation-based training, which offers students immersive, realistic settings in which to hone critical abilities. Simulation in medical education has quickly changed as a result of technological advancements, introducing cutting-edge technologies and methods that improve the educational process. Medical education is being transformed by simulation-based training, which is still expanding and enabling students to learn and hone critical clinical skills in a secure, immersive setting. Healthcare workers will gain from better training opportunities as technology develop and become more widely available, which will improve patient outcomes and support the ongoing development of medical practice.
VR and AR: They have emerged as powerful tools in medical education. VR immerses learners in realistic virtual environments, allowing them to practice procedures and interact with virtual patients. The use of AR allows learners to visualize medical devices and anatomical structures in the real world. The technologies provide opportunities for realistic, interactive, and safe learning experiences, fostering critical thinking, decision-making, and teamwork.
High-fidelity patient simulators: High-fidelity patient simulators replicate human physiological responses, allowing learners to practice clinical skills in a realistic setting. The simulators can mimic vital signs and heart and lung sounds, and even respond to interventions, providing valuable hands-on training. Recent advancements in high-fidelity simulators include improved wireless connectivity, increased portability, and more realistic anatomical features, enabling learners to refine their clinical competencies.
Mobile-based simulations: Mobile-based simulations have become increasingly integral to medical education as mobile devices enable widespread access to training tools and resources. These simulations allow learners to engage with educational content and practice clinical decision-making at any time and from virtually any location. Solutions such as Krasan Consulting Services support the development and integration of digital platforms that enhance accessibility and learning efficiency. By incorporating interactive videos, case-based scenarios, and assessment tools, mobile simulations provide a flexible and user-friendly approach to skill development.
Team-based simulation: Simulation-based training has shifted towards team-based approaches. Simulations involving multidisciplinary teams, such as doctors, nurses, and allied health professionals, enhance collaboration, communication, and coordination skills. The simulations simulate realistic scenarios, promoting interprofessional understanding and improving patient outcomes.
Kinesis Network provides networking solutions supporting mobile-based simulation efficiency and connectivity across healthcare and digital education environments.
Gamification: Gamification, integrating game elements into educational activities, has gained traction in medical education. Through gamified simulations, learners are engaged in interactive and challenging scenarios, earning rewards, progressing through levels, and receiving immediate feedback. The approach enhances motivation, knowledge retention, and skill development, making learning more enjoyable and effective.
Simulation-based assessments: Simulation-based assessments have become a reliable and valid method to evaluate learners' clinical competence. Objective Structured Clinical Examinations (OSCEs) and other simulation-based assessments provide a standardized platform to assess knowledge, skills, and professionalism. The reviews often incorporate advanced tracking and monitoring technologies, enabling objective and comprehensive performance evaluation. ...Read more
Companies' competitiveness in the logistics industry is greatly increased by efficient supply networks. According to research, supply chain management helps businesses grow by giving them a competitive advantage over their rivals. Supply chains are now more effective thanks to recent developments in automation and data analytics.
New technologies foster innovation in supply chains across multiple industries, benefiting companies, employees, and consumers. Currently, transformative technologies are gaining traction, aiming to bolster the resilience and robustness of operations in our increasingly interconnected digital landscape.
The future remains inherently uncertain, but it appears more unpredictable now than at any previous time. A global pandemic has disrupted the supply chain industry while highlighting its importance and giving rise to new goals and perspectives for the near future.
Best Supply Chain Technology Trends & Innovations
Internet of Things:
The Internet of Things (IoT) links physical devices, facilitating the autonomous monitoring and transmission of data. Implementing IoT in logistics enhances the efficiency of inventory management by providing greater visibility throughout the supply chain.
The Internet of Things (IoT) has significantly revolutionized supply chain management (SCM). Notable advancements have been made in tracking product locations, understanding storage conditions, and predicting arrival times at specific destinations.
Sensors can forecast equipment deterioration, allowing for proactive replacement part ordering. The Internet of Things (IoT) enhances visibility within the supply chain.
The Internet of Things (IoT) is approaching maturity. Its appeal is evident, particularly in its applicability across the entire supply chain. The results it yields empower organizations to enhance productivity, minimize downtime, anticipate customer demands, and increase overall return on investment (ROI).
Artificial Intelligence:
Over the past decade, automation has emerged as a significant trend across nearly all sectors. The remarkable success observed in the previous year indicates that this trend will likely persist. Notably, the ascent of artificial intelligence (AI) has become a pivotal element in supply-chain automation.
Integrating AI algorithms with machine learning empowers organizations to proactively adapt to demand fluctuations. For example, managers can leverage AI-driven forecasting tools to optimize supply chain activities and uncover opportunities for cost reduction.
These technologies offer real-time reporting, interactive data visualization, and enhanced analytical capabilities, all integral to contemporary business applications.
Augmented Data Intelligence:
Effective management of supply chains necessitates ongoing decision-making, yet many organizations need more knowledge to navigate this complexity.
Consequently, businesses require solutions that enhance their comprehension of supply chain dynamics and its activities, enabling decisions based on timely and precise data. The amalgamation of various technologies is called enhanced data intelligence (EDI). This integration accelerates complex data processing and yields valuable insights, forecasts, and recommendations. ...Read more
Today, every firm strives to boost operational efficiency while decreasing IT expenses. Every part of IT, from application deployment to customer service, requires speedier solutions that reduce the amount of human labor and give an exceptional experience. Increasingly businesses rely on agile, adaptable, and rapidly scalable technology underpinnings to meet their business objectives and stay competitive.
Here, IT infrastructure automation comes into play. Not only infrastructure but the entire business process is accelerated by automation.
Advantages Of It Infrastructure Automation
Significant cost savings: Automation is the primary factor in lowering IT expenses without compromising service quality, and it eliminates the need for manual optimization of IT resource capacity. Across all corporate activities, automation also facilitates enhanced resource allocation and utilization management.
Automation of IT infrastructure is necessary for optimizing both old IT and modern cloud infrastructure obtained through digital transformation activities. However, selecting the proper automation tool for effective infrastructure management is essential.
Faster adoption of DevOps: DevOps is a best practice that encourages enterprises' agility to release higher-quality goods more quickly. Moreover, automation is crucial to DevOps.
Adopting and integrating DevOps across all functionalities demands a high level of infrastructure automation.
To construct a fully functional DevOps, you must automate the infrastructure at every software development life cycle level.
Enhanced user experience through self-service portals: Self-service portals and service catalogs are already moving outside IT operations to meet the requirements of many business divisions. Examples include human resources for calculating benefits and compensation and supplier management for contract renewal and bid reviews.
Self-service solutions boost service delivery and productivity. Firms must automate their business processes to maximize the benefits of self-service portals.
The objective is to automate every systematic process to increase the productivity of self-service portals and give genuine value to business teams.
Obtaining the advantages of cloud computing: Although most enterprises employ public cloud infrastructures to some level, many struggle to utilize best-of-breed solutions to their utmost potential. The cloud contains numerous unrealized opportunities that might deliver immense value to enterprises. Organizations must maximize the benefits of cloud automation to improve their operations. Convertr is helping organizations fully harness these cloud opportunities, providing automation solutions that optimize cloud infrastructures and reduce operational costs. The company was recently awarded the Top Lead Management Operating System by MarTech Outlook for its pioneering work in cloud automation.
By leveraging infrastructure automation technologies, enterprises can discover new techniques for optimizing their cloud infrastructures (not to mention slashing costs).
Automation is required to obtain more control over cloud-based processes. An enterprise workflow solution can use public, private, on-premises, and hybrid cloud configurations to divide and distribute enterprise workflows.
Programming environment: Today, data centers represent the foundation of many firms' IT infrastructure—however, their function shifts due to the increased availability of cloud storage. Organizations can utilize hosted sites and social storage platforms distributed across many supplier data centers.
To maximize this advantage, they must acquire the ability to orchestrate and automate infrastructure. Programming storage as a service through these hosted websites, social platforms, and public cloud services is made possible through automation.
Bimodal IT: IT has always been a critical partner in every company's operation. In addition to continuing to meet Service Level Agreements, the IT department can improve security controls, maintain operational capabilities, and lower business costs.
Bimodal IT is the administration of two distinct modes of IT delivery. While one emphasizes stability, the other emphasizes mobility.
This is an excellent alternative for firms wishing to catch up with the fast advancement of the digital world. In this regard, automation can facilitate the move from conventional IT practices to bimodal IT. In this circumstance, automation accelerates and offers reliability for IT procedures. ...Read more
Fremont, CA: Artificial Intelligence (AI) is revolutionizing the construction sector. There has never been a greater pressing demand for accuracy and efficiency due to tighter budgets and more complicated projects. Here are five domains in construction project management where AI plays a crucial role.
Decision-Making
The use of AI in decision-making has been one of its most revolutionary effects. Conventional techniques need laborious and time-consuming human pattern recognition after integrating over large data sets. Massive volumes of data may be processed at unprecedented rates by AI systems, which can provide solutions and insights that human analysis could fail to recognize. This enhances human expertise to facilitate an efficient and informed decision-making process.
Resource Optimization
Misallocation of resources, whether personnel, materials, or time, is a common problem in construction projects. Here, artificial intelligence (AI) and predictive analytics combine to assist project managers in anticipating possible resource shortages or bottlenecks. Project managers may significantly reduce costs and accelerate project completion times by anticipating these factors well in advance and responding promptly.
Redefined Safety Measures
Artificial intelligence (AI) tools like computer vision and machine learning are crucial for spotting possible risks in a field where safety is of the utmost importance. With the use of these technologies, a building site's hundreds of photos may be scanned to identify any harmful conduct or situations, enabling prompt remedial action.
Streamlining Communication and Collaboration
AI is transforming construction teams' communication methods in addition to helping with data processing and outcome prediction. Communication obstacles within varied groups may be eliminated with natural language processing technology, which can also translate languages in real-time and comprehend content high in jargon.
Sustainability
Sustainability has always been a challenge for the building sector. Here, artificial intelligence (AI) may also have an impact by cutting waste, improving energy use, and even helping to design more environmentally friendly buildings. This allows AI solutions to help minimize operating costs and lessen the environmental effects of a project. ...Read more

