Kumulos goes for repeat of ‘strong’ growth in annual sales
The Dundee-based software company aims to at least double its customer base again in the coming year as it opens its first overseas office in the US.
Scottish software firm Kumulos is aiming to double its business for the second year running as it opens its first office in its biggest export market of the United States. The Dundee-based company, whose management platform is used by mobile app developers around the world, is establishing a physical presence in Raleigh, North Carolina. Kumulos chief executive Mark Petrie said the decision follows a successful year for the company, which also recently completed a second-stage funding round raising a six-figure investment. “We are just off the back of a strong 12-month period,” he said. “We have doubled our customer base, and our monthly recurring revenues are up by 335 per cent. Our plan going forward is to repeat that in the coming year.”
About 40 per cent of Kumulos’ customers are based in North America, with others in a further 25 countries. Examples of some of its users include NS804 of Virgina, Princeton Digital in Sydney, Australia and Colombia’s Nativapps.