Solovis, a multi-asset class portfolio management, analytics and reporting platform for limited partners, asset owners and allocators, today announced it delivered record revenue in 2019. The company increased annual recurring revenues by 55% and set new annual and fourth quarter total revenue records. The company’s continuous growth has been propelled by strong demand for its multi-asset class portfolio management platform and word of mouth from a highly referenceable client base.
Solovis added a significant number of new clients in 2019 and achieved a 103% net client retention rate, as clients not only remain committed to the core Solovis Portfolio Analytics platform but are also adopting the company’s new technology applications as Solovis continues to innovate. The company also grew its team – increasing the number of employees by 23% to ensure client success and product innovation remain top priorities as the company grows.
In 2019, Solovis further solidified its position as a market leader and an innovator in fintech. Its unique focus on the large-scale institutional investment management needs of pensions, foundations, endowments, OCIOs and family offices, combined with the success of its clients, has gained notable recognition in the industry – including Solovis being named the recipient of the CIO Innovation Award for Best Data and Technology last month.
In addition to achieving record revenue growth, Solovis formed strategic partnerships with State Street and Citco in 2019, demonstrating its ability to serve as a key technology hub in the broader institutional investing ecosystem.
“Our record growth this past year demonstrates that the institutional investment industry is actively embracing new technology and demanding more effective portfolio analytics and reporting tools,” said Josh Smith, CEO and co-founder of Solovis. “Our ability to aggregate, model and analyze multi-asset class portfolios at a strategic level is unique in the industry and fills a significant gap for limited partners. Our commitment to client success and ongoing technology innovation make Solovis a very attractive solution – giving organizations a platform for rapid transformation and faster, more accurate portfolio insights. We are only getting started and look forward to continuing to shake up the status quo in 2020.”