H1 2017: Next chapter in Medius success journey
29 August, 2017Medius, a global provider of AP invoice automation solutions in the cloud, has experienced tremendous growth and released exciting new product functionality during the first half of 2017. In early August we also welcomed new owners of the company.
H1 2017 highlights:
- Sales success – total ACV (annualized contract value) has grown 27% in addition to a 25% growth in the number of new customers signed compared to H1 last year.
- Recurring revenue accounted for 69% of total revenue (vs. 63% Jun 30, 2016).
- Delivery excellence – significantly shorter average deployment times thanks to our best practice deployment methodology and further improved standard ERP integrations, including Microsoft Dynamics 365 for Finance & Operations.
- Product innovation – including further development of the benchmarking functionality, a next generation reporting tool with powerful cloud connectivity, and the launch of Ascendo Invoice Online.
- New owner structure – Medius has recently announced that it has signed a definitive agreement to be acquired by Marlin Equity Partners. In addition, Medius has acquired all outstanding shares in its Australian subsidiary as part of the company’s global expansion plan.
Continued sales success
Medius reports very healthy growth levels on key sales metrics, including the number of new customers acquired as well as the total ACV (annualized contract value). In addition, the growing recurring revenue base derived from subscription-based customer contracts proves Medius’ strong position in the marketplace.
“First half of 2017 was another great half year for Medius. I am happy about the addition of new customers around the globe, as well as the large number of existing on-premise customers migrating to our cloud solutions,” said Per Åkerberg CEO of Medius. “Our cloud solutions offer customers great speed to value with best practice deployment and pre-connected integrations. In addition, the cloud solutions offer our customers unique benchmarking functionality to optimize their accounts payable process automation. The leaders are reaching over 90% touchless rate and we see many examples of customers improving the touchless rate by over 50% using our benchmark tools."
Accelerate global expansion with new ownership
On 2 August 2017 Medius announced that it has signed a definitive agreement to be acquired by Marlin Equity Partners. The acquisition will enable Medius to accelerate its ongoing global expansion and continue investing in product innovation as well as delivery excellence to support the company’s vision of being the #1 solution in cloud-based AP invoice automation globally.
“We are thrilled to continue our successful growth journey together with Marlin and leverage their global network and deep expertise in the technology sector to accelerate our global expansion and product innovation going forward”, said Per Åkerberg, CEO of Medius.
For more information, please contact:
- Per Åkerberg, CEO, Medius AB, firstname.lastname@example.org
- Fredrik André, VP Global Marketing, Medius AB, +46 (0)709 23 93 81, email@example.com
Medius is a fintech company and a leading provider of AP invoice automation solutions in the Cloud. The MediusFlow and Ascendo solutions automate and simplify the entire P2P process. The company has 2,000 customers worldwide processing 52 million invoices annually, with high density in retail, manufacturing and services. Founded in 2001, Medius now has 220 employees working out of offices in Sweden (HQ), the United States, Norway, Denmark, Poland, the Netherlands, Malaysia and Australia.