eFront Pevara private equity benchmarks updated with Q2 2019 results
Paris, September 18, …
Paris | February 28, 2019 – eFront, the world’s leading alternative investment management software and solutions provider, announced today that it has met or surpassed all of its ambitious 2018 objectives.
Bookings have grown by 10% globally and reached an all-time high, accompanied by remarkable growth within its existing client base. The results follow the adoption of a strategic agenda to expand eFront’s suite of solutions, increase customer centricity and improve the overall customer experience.
Existing clients have accelerated their adoption of the full eFront solution suite, while more than 60 new alternative investment organizations have joined the eFront community as clients. Around 90% of these new clients subscribed through cloud or software-as-a-service solutions. As a result, Annual Contract Value has grown by 20% by the end of 2018.
2018 also saw the launch of eFront Insight, an innovative data & analytics solution aimed at digitizing data exchanges between GPs and LPs and providing an unprecedented depth of data and actionable analytics. eFront Insight’s early adopter program closed successfully and was oversubscribed by 35%, demonstrating an overwhelming enthusiasm in the industry. This breakthrough solution already counts over 1,500 general and limited partner users. With a product roadmap full of numerous innovative functions, the solution will continue to evolve and further disrupt Private Markets in 2019 and beyond.
Commenting on the results, Tarek Chouman, eFront’s CEO, said, “Our results in 2018 demonstrate the relevance of our strategy and give us the means to resolutely fulfill our vision, which is of an alternative investment industry that is as mainstream and accessible as the public markets. We know how our technologies will power that fundamental evolution in global investing, and everybody at eFront will continue to work hard to turn it into a reality”.