Tempo grows revenue by 38% in 2017 to $17.9 Million

February 19, 2018

REYKJAVIK, Iceland-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.

About Tempo Software

Tempo Software empowers companies to focus on what matters most – building great products. Tempo’s flexible and modular platform helps teams plan, execute and optimize products in alignment with the customer’s strategic business priorities. Tempo’s platform includes solutions for Strategic Portfolio Management (SPM), Project and Portfolio Management (PPM), and IT Service Management (ITSM) needs. Founded in 2009, Tempo has the support of more than 300 strategic integration partners, and serves 30,000+ customers across a wide range of industries, including one in three Fortune 500 companies.

To learn more about Tempo Software, visit http://www.tempo.io.