Post-Brexit boom for data intelligence company DueDil with sales up 118% from last year
DueDil has announced its most successful sales quarter to date as more UK and international companies are using the data intelligence tool.
In Q2 2016, DueDil enterprise sales were up 118% year-on-year. New customers in the quarter include PayPal, Securitas Ireland, Netjets and Currencies Direct.
The records follow the decision taken by DueDil in February 2015 to focus its efforts on enterprise customers, moving away from its previous freemium model.
DueDil has also seen increased interest from the US following the June 23 Brexit referendum vote, as companies seek tools to help them navigate a rapidly changing business environment and understand the impact of Brexit on the UK and Europe. This trend is expected to continue into the rest of 2016, boosting DueDil sales further.
DueDil Co-founder and CEO Damian Kimmelman said: “Uncertain times create more risks for companies to avoid, but they also generate more opportunities to take advantage of. UK and international businesses increasingly understand that DueDil’s accurate, timely information about any company helps them do both, enabling them to act effectively and make better decisions. This has resulted in our record sales figures, and with the Brexit vote adding to economic uncertainty, I expect even stronger demand for our services.”
Following the Brexit vote, DueDil is also evaluating plans to develop an international presence outside of the UK – potentially through opening offices elsewhere in Europe. It will still continue to scale its presence in London and hire staff in the UK.
Mr. Kimmelman said: “The Brexit vote provides a clear imperative to accelerate our efforts to become an international company, and we will carefully evaluate how to best achieve that objective. However, we will also build our presence in London and hire staff here, as the UK continues to be a great base to build a global fintech company.”
In Q2, DueDil also launched DueDil Lists, a new feature that changes the way businesses act on information, enabling users to easily create dynamic lists of companies, prospects, suppliers or competitors – and avoid paying suppliers for expensive datasets filled with obsolete material.
It also launched the Ownership Tab, which acts as a central hub for understanding the governance of a company and automates the process of identifying related companies, saving time and effort for compliance and know-your-customer (KYC) teams.
The company plans to launch several new features in the rest of 2016 that will incorporate new information and provide additional functionality to the DueDil tool.