From start to finish, 2020 has been a wild ride. Plagues and vaccines, elections and social movements, wildfires and crazy election stories. 2020 is one for the history books. Do you think Billy Joel finally updated his song?
Although we haven't had any murder hornets (thank goodness), most of us can say we are happy to see 2020 come to its conclusion. Even so, this year has been full of positives for Malbek and our community.
Let It Grow!
Despite the pandemic, we kept focus and continued to grow substantially. We added several large, international logos to our customer list, as well as many smaller, but equally important, ones. On top of that, our net revenue retention rate is more than 130% with zero customer churn. And now, as the year closes out, our growth rate and the net retention puts us in the top quadrant for growth among SaaS companies.
I have to say that the stellar Malbek team made it possible to reach these impressive milestones. In addition, there was one other factor that fueled our growth. The support of our investors has been a critical part of our expanding this year. Funding enabled us to grow marketing, which led to more deals, and building out our customer support team and product development has kept customers happy and coming back for more.
All in the Family
This year, we have been in the press quite a bit. We've shared our story with the world, and it's been received with interest and enthusiasm. Our social media community has grown significantly fueled in part by our Malbek Happy Hour video series. Being able to engage and read your thoughts and comments personally has been a highlight of the year. We love engaging with you on social media!
The pinnacle of the year by far, though, was in October when we held our very first user conference, Envision 2020. It was an amazing experience, enabling strong collaboration and idea-sharing within the Malbek community. Being able to communicate, engage, and learn from our customers is something we dearly value and an essential part of our future growth and success.
Innovation and Integration
Innovations and integrations were numerous in 2020. We continued our AI expansion, including new AI algorithms added to the platform. The Malbek vision is that contract analytics, discovery, drafting, review, and more be driven by AI, bringing unparalleled insight and effectiveness to how you manage your contracts.
We also introduced additional integrations to Malbek Konnect, our marketplace for drag-and-drop, no-code integrations. This approach to integration puts the reigns back into the hands of customers, reflecting our core belief in the benefits of self-service. Speaking of integrations, we unveiled our integration with Slack this year, further helping to streamline contract approvals and communication.
While the year has been full of unexpected twists and turns, the Malbek team has weathered the storm admirably, and we look forward to all that 2021 will bring. Happy holidays to you and yours!