Tempo Grows Revenue by 38% in 2017 to $17.9 Million

REYKJAVIK, Iceland–(BUSINESS WIRE)–Tempo, creator of efficiency-enhancing project management software
solutions for Atlassian’s Jira platform, announced strong results for
its 2017 fiscal year ending December 31, 2017.

“2017 marks another productive and successful year for Tempo, with
December our highest grossing month ever and sales across our product
range exceeding expectations,” commented Agust Einarsson, CEO, “The
completion of our new cloud infrastructure and successful migration of
our entire customer base to Amazon Web Services (AWS) marks a strategic
milestone, empowering Tempo with a more scalable underlying platform and
enabling us to deploy products to customers faster.”

Highlights for 2017 include:

  • Revenue grew 38% year-over-year to US$17.9 million
  • Almost 2,000 new customers were acquired
  • Launched our new cloud infrastructure
  • Expanded product footprint beyond the Atlassian environment with Tempo
    for Slack
  • North American operations continued to grow
  • More than 120 partners worldwide
  • Celebrated our 10-year anniversary

Revenue improved by 38% year-over-year

Tempo’s annual earnings increased by 38% year-over-year to US$17.9
million, fueled by double-digit growth across all our deployment options
and products. The Company’s client base is highly diversified across
company size and industry sector, helping to stabilize Tempo’s revenue
and protect against sector downturns.

New cloud platform

In 2017, with the migration of more than 7,000 customers, Tempo moved to
hosting its own cloud environment. Which drew to close the major
transition and investment that this 18-month project required.

The company has not only built new products and infrastructure to
solidify the foundation of our cloud vision, but has also redesigned and
established new processes as well as ways of working, transforming
ourselves from software supplier to a world-class services company.
Customers will benefit from improved performance and reduced latency on
the Amazon Web Services Platform, and can expect to see more frequent
product releases in response to emerging requirements.

Tempo for Slack

Tempo for Slack integrates its time management solution tightly within
the chat platform allowing users expedited productivity and real-time
reporting. Slack customers using Jira will be able to use Tempo to
seamlessly track their time, receive notifications and reminders, as
well as alerts to approve timesheets all within the same environment.

North America operation continues to expand

This year Tempo added 17 employees to our Montreal office, while
maintaining a strong team at its headquarters in Iceland, bringing the
total number of employees close to 100.

10-year anniversary and almost 2,000 new customers acquired

Tempo marked its 10-year anniversary and surpassed 10,000 customers in
Q2 2017. This year saw further growth to almost 12,000 customers, since
its launch almost a decade ago. Significant new clients including: Bank
of Singapore, Airbus Defence and Space, Verizon, NBC Universal, Rolex
and many others.

Over 120 partners worldwide

Collaborative growth is key to the strength of Tempo, and in 2017 our
Atlassian Expert Partner network grew to a total of over 120 Partners
worldwide. Tempo is looking forward to fostering and strengthening
partnerships with both existing and potential partners as well as
customers in 2018.

Other highlights:

  • Launched Tempo for Chrome extension
  • Launched a more powerful and custom time report for
    Tempo Cloud
  • Donated over $105,000 to the non-profit Room to Read. Amount
    calculated from all proceeds of 10-user starter license sales. Room to
    Read seeks to improve literacy and gender equality in education in the
    developing world
  • Renewed our participation in the Pledge 1% corporate philanthropy
    movement, founded by Atlassian, Salesforce, and Rally.

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About Tempo

Tempo develops sophisticated software solutions that help make work
easier and more efficient for software, IT services and core business
teams. Tempo has over 11,000 customers worldwide, ranging from small
startups to the largest global enterprises including Amazon, BMW,
Pfizer, HomeAway, PayPal, Hulu, Dell, and Disney.

To learn more about Tempo, visit www.tempo.io.

Additional Resources

Follow the Tempo blog: http://blog.tempo.io

Follow us on Twitter: http://twitter.com/tempohq

Become a fan on Facebook: http://facebook.com/tempohq

Follow us on LinkedIn: https://www.linkedin.com/company/TempoHQ

Contacts

Media Contact:
Tempo
Agust Einarsson
CEO
ae@tempo.io