April 2023

Duco announces record financial year and two major new enterprise agreements

Annual Contract Value (ACV) growth of 40%, Net Revenue Retention (NRR) at 131%, and two new global enterprise agreements totalling over $27m in revenue.

11 April 2023, London. Duco, the #1 SaaS provider of data automation, today announced record results for the year ended 31 March 2023. By combining SaaS, no-code, immediate availability and end-user empowerment, Duco has been transforming the way financial services firms and insurance companies manage data validation and reconciliation for key control processes.

The company concluded two enterprise agreements for over $27m in total contract value in FQ4, excluding professional services, with global banks. The banks will automate thousands of manual, spreadsheet based processes and migrate off legacy reconciliation software onto Duco, sharply increasing levels of efficiency, improving data quality and reducing operational risk.

Company Annual Contract Value grew organically by 40%, up from 34% growth last fiscal year, driven by new logo wins and a significant rise in existing customers moving on from legacy reconciliation technology. At 131%, Duco’s Net Revenue Retention is best-in-class, demonstrating the ease of use of the platform and the value of empowering the business to take control of their data, and release technical resources.

“We founded this company to take our customers to a new level of automation for their most mission-critical data processes. We have now reached an inflection point and are seeing the market moving away from legacy technology and processes towards the vision that Duco has been leading for years – SaaS, flexibility, no-code, automating the whole process from data ingestion, validation, reconciliation and management reporting. These results are a big validation of the platform strategy we undertook a few years ago, of the value that customers are unlocking from Duco, and how data automation can make a massive difference to global organisations, where tens of thousands of people are often struggling to get data under control, still having to resort to Excel, macros, or inflexible, legacy software,” says Christian Nentwich, Founder and CEO of Duco.

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