Gainsight, the Customer Success company, today announced highlights from a record-breaking first quarter, which ended April 30th. The company’s latest financial results continued to build on its momentum from a record-breaking 2020 and streaked past its Q1 revenue targets. Gainsight also revealed aggressive hiring initiatives, including the addition of 148 new employees in Q1 alone; multiple executive promotions; and the official announcement of its annual Pulse Everywhere conference, June 9-11, 2021.
“From born-in-the-cloud startups to transformative Fortune 100 leaders, Customer Success has truly arrived as an organization-wide priority for businesses of every shape and size,” said Gainsight CEO Nick Mehta. “It’s no longer about the transition from customer support or account management to customer success management or buying tools to help automate CSM processes. Customer Success now carries the same significance as sales, marketing and product when it comes to the core of your growth engine. In fact, you can go a step further and say that Customer Success is the fabric that brings together every core function of a modern digital business.”
Gainsight also appointed Apptio Co-Founder CEO Sunny Gupta to its board of directors.
“Sunny is a true market and product innovator with a passion for Customer Success,” said Mehta. “I couldn’t be more excited for our team to learn from and leverage his experience in building a company from category pioneer to publicly traded global leader. I couldn’t imagine a better fit – or better person – to help guide our next phase of growth here at Gainsight.”
Gainsight’s first-quarter highlights included:
Record Bookings Growth
Gainsight’s growth exceeded expectations across both its Customer Success (CS) and Product Experience (PX) technologies, with first quarter bookings increasing 136% year-over-year. Growth was driven through both fast-growing, born-in-the-cloud SaaS companies, as well as some of the world’s largest organizations going through large-scale digital transformations.
Key customer wins and expansions included:
- SaaS and Cloud: Acoustic, Appian, Avaya, Cornerstone On Demand, ForgeRock, Miro, Piano, Quantum Workplace, Qumu, Synup, Veeam, Workday, and Yellow Messenger
- EdTech: Blackboard
- Healthcare IT: Dental Intelligence
- FinTech: Divvy, Lockstep
- Technology Service and Solution Providers: Netsync, World Wide Technology (WWT)
The number of publicly traded companies leveraging Gainsight grew to more than 100 in Q1, including nearly 60% of the Forbes Cloud 100.
Gainsight’s Glassdoor performance grew to all-time highs, highlighted by:
- Overall rating increased to 4.61
- Business Outlook increased to 89%
- Recommend to a friend increased to 93%
Worldwide, Gainsight added 148 new employees in Q1 with plans to surpass 1,000 total team members by the end of 2021. In addition to its aggressive hiring plan, the company announced several key promotions across its executive team:
- Kellie Capote – Capote was promoted to Chief Customer Officer, overseeing Gainsight’s post-sales journey, including customer success, customer experience, customer support, escalations and customer success operations.
- Robin Merritt – Merritt was promoted to SVP, Chief of Staff and Community, managing the Office of the CEO and the team responsible for global corporate communications, public relations, customer success careers and philanthropy.
- Maksim Ovsyannikov – Ovsyannikov was promoted to EVP, Products, leading Gainsight’s product management, product design, customer community and documentation organizations with overall responsibility for Gainsight’s product strategy, vision and roadmap.
- Alka Tandan – Tandan was promoted to SVP, Finance and Strategic Programs, leading the organization’s global finance and accounting functions, operational and financial management, and key cross-functional projects tied to Gainsight’s long-term strategic vision.
- Caitlin Quinlan – Quinlan was promoted to SVP, Revenue Operations, advising the executive team on analysis and strategy that guides all go-to-market and customer success activities.
Gainsight closed Q1 with more than 12,000 Customer Success and Product professionals registered for its Pulse Everywhere, it’s annual conference taking place June 9-11, 2021. The three-day virtual event features an impressive lineup of more than 100 thought leaders and industry experts across 53 learning sessions. Educational tracks include:
- Simplifying Customer Success
- Aligning Sales and Customer Success
- Customer Success Operations
- Customer Success at Scale
- End-to-End Value
- Customer Success Strategy
- Product Adoption and Experience
Registration is free at GainsightPulse.com.
Q1 also saw Gainsight broaden its lead as the top enterprise Customer Success platform, according to the spring 2021 release of the G2 Grid Report for Customer Success Solutions. The 2021 Gartner “Market Guide for Customer Success Management Platforms,” also published in Q1, recognized Gainsight as a Representative Vendor and the report states the importance of the customer success function in order to manage customer engagement, adoption, retention and upsell/cross-sell objectives.
“There truly couldn’t be a more exciting time to be part of the growth at Gainsight and in Customer Success as a whole,” said Gainsight Chief Customer Officer Kellie Capote. “To see the core principles of Customer Success extend outside of B2B SaaS and into industries such as healthcare, finance, EdTech, security and others should be celebrated by each and every one of their stakeholders. But, it benefits nobody more than the customers themselves. I couldn’t be more honored and excited to help lead the human-first, customer-first company and community we’re continuing to build.”
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner Market Guide for Customer Success Management Platforms, Michael Maziarka, Maria Marino, John Quaglietta, 27th April 2021.
Gainsight’s innovative technology helps companies prevent churn by identifying at-risk customers, creating systematic processes to mitigate concerns and efficiently ramping up engagement efforts. The company’s Customer Cloud offers a powerful set of solutions focused on customer success, product experience, revenue optimization and customer data that together enable businesses to put the customer at the center of everything they do. Learn how leading companies such as GE Digital, SAP Concur and Box use Gainsight at www.gainsight.com.