CloudCall, the Leicester-based communications company, has witnessed an “outstanding year” according to a trading update for the year ended 31 December 2019.
Total revenues for the year increased by 30% to £11.4m, with the Group exiting 2019 with an annualised revenue run rate of over £13m. Recurring revenue grew 33% in comparison to 2018, which, including repeating telephony income, accounts for 89% of total revenues.
The company also highlighted, in the trading update, an increased level of interest from larger and enterprise customers.
Simon Cleaver, Chief Executive Officer of CloudCall, said: “2019 has been another outstanding year for CloudCall. Not only has the Company once again delivered organic revenue growth of 30%, it also successfully raised new capital to fund future growth and strengthen the balance sheet.
“The two standouts for the year are the quantum increase in interest from enterprise companies and the over-50% growth we delivered in the US.
“It is worth noting that the US is now responsible for approximately 40% of our total revenue and with nearly half of the total funds raised in the recent placing coming from US investors, I have little doubt there is a huge, largely untapped, opportunity for CloudCall in the US and this is a key focus of our sales and marketing expansion.
“CloudCall has a clear strategy to become the leading provider of ‘integrated communications’. We will continue to build out our product, integrate with more CRMs, expand our geographic reach and engage with ever larger customers – our 4 pillars of growth.
“We are entering 2020 with significant opportunities and a well-funded balance sheet that is strong enough to capitalise on those opportunities. The Board continues to be confident in the future outlook for the Company.”