Manchester-based AppLearn, a fast-growing tech businesses, recorded a 199 per cent increase in year-on-year bookings when compared to 2021.
The Manchester-based Digital Adoption Platform (DAP) vendor secured $25m (£20m) investment from K1 Investment Management in 2019 followed by an eight figure raise from Silicon Valley Bank and Northern Powerhouse Investment Fund – Maven Equity Finance in January 2022 to scale its international reach.
AppLearn’s mission statement is simple: Make software work better for everyone. In 2022 the company bought Slovakian-based DAP provider YesElf, which tripled its development capacity.
Andrew Avanessian, who joined AppLearn as COO in 2019 before becoming CEO, said: “We are delighted with last year’s performance. Not only did we focus on acquiring new customers, but we also placed emphasis on ensuring existing customers get real value out of our solution.
“The success of this comes through in our gross and net retention rates, with a number of customers making the decision to expand their current package to support digital adoption across their wider tech stack.”
AppLearn has been included in the Best Companies’ latest league table of the best technology companies to work.
AppLearn VP of People, Laura Packwood, said: “This is a tremendous achievement for all of us. Our efforts throughout 2022 to shape a winning culture can only go so far, and it’s a testament to the team for living and breathing our core values in everything they do to make AppLearn a world class place to work.”
The market for digital adoption platforms (DAPs) has been increasing rapidly in recent years, and is predicted to be worth $13.9bn by 2024.
Leading analyst house, Forrester, reported that between 2020 and 2021, venture capital (VC) investments in DAPs grew nearly sixfold from $76m to $470m.
Avanessian added: “We have a huge opportunity here, the demand for digital adoption platforms to support transformation efforts is only increasing. We have the right team, the right focus, and the right product. We are ready to capitalise on this demand and take AppLearn to the next level.
“It’s been an incredible couple of years for us as a business—we’ve come a long way—and it’s great to see all of our hard work reflected in our 2022 successes. We have a great team and a united vision, I’m incredibly proud of everyone within the business and I’m excited to see what 2023 has in store for us.”