ElectroNeek Results of Q3 2022: Leadership and Impact in Midmarket Automation

/ ~ 5 minutes read

AUSTIN, TEXAS (December 7, 2022) – ElectroNeek today announced financial and business results for the quarter that ended October 31, 2022. The company continues hyper growth and extends its leadership in midmarket automation by shaping a new industry.

ElectroNeek, the only Robotic Process Automation (RPA) platform for IT Service Providers, reports exponential hypergrowth in its global customer base, the addition of the Business Hub to the product lineup, and the launch of HQ in Austin, Texas.

“Our international team delivered great results in Q3 to extend ElectroNeek’s leading position among vendors and empower our customers with the best combination of business and tech products in one platform. While some of our competitors are just starting to make tentative steps into the midmarket, we’ve been creating and shaping a new industry of successful IT Service Providers that deliver automation for end clients of all sizes. In addition to our strong Q3 results, an ongoing investment round will allow us to continue shaping the automation market landscape on an even larger scale”.

Sergey Yudovskiy, Co-Founder and CEO of ElectroNeek

Global Customer Base Growth

During Q3 of 2022, ElectroNeek’s client base grew more than 2.5 times. Increase in customers covering all geographies, with LatAm achieving impressive 6.5x growth. In ElectroNeek’s differentiated business model, IT Service Providers are customers, not channel partners. Its platform, support, and customer success are exclusively designed to support small and medium-sized IT services firms. ElectroNeek enables them to successfully deliver automation to their clients, monetize software bots, and capitalize on the growing demand for automation services. This approach is the foundation for success in winning over new IT Service Providers and delivering automation to end clients of all sizes.

Business Hub - A New Product for IT Service Providers

In alignment with Company’s mission, the Business Hub is the product that empowers IT Service Providers to launch and grow their RPA businesses successfully.

The Business Hub features courses for IT Service Provider’s marketing and sales teams to boost demand generation and sales skills. Additionally, it provides templates of agreements, proposals, sales decks, and blueprints that can help close the first deal with existing customers or build recurring revenue from delivering automation solutions.

Business Hub will launch with the upcoming platform release in early December 2022.

Customer Success Team Now Operating Globally

In Q3 2022, the Customer Success team expanded and is now fully staffed with professionals in all regions. By providing business support and guidance for IT Service Providers, the unit contributes to the development and success of ElectroNeek customers from early beginner stages to massive scaling into new industries and regions. Building profitable RPA practices has never been easier than with ElectroNeek’s Customer Success team.

Customer Support Exceeds Industry Standards

ElectroNeek’s Customer Support team provides tech guidance to IT Service Providers on various topics, from platform functionality and operations to helping develop automation bots for end clients and leading the community forum.

On the tech side, ElectroNeek’s Customer Support team achieved an outstanding customer satisfaction rating of 97% in Q3 2022, highlighting their best-in-class tech support for IT Service Providers on the market.

New Global Headquarters in Austin

To bring even more synergy to our rapidly growing company and establish a centralized hub where team members and customers can work together, ElectroNeek launched its new Global Headquarters in Austin. The location choice was not accidental - Austin proved to be the fastest-growing IT Hub in the US over the last few years. The synergy between ElectroNeek’s hypergrowth since 2019 and the possibilities provided by Austin’s rapid development will result in new opportunities for IT Service Providers in the US and globally.

Industry Recognition

Over the past few months, ElectroNeek received numerous awards and recognition from industry analysts, further proving the advantages of its IT Service Provider-oriented approach to democratizing RPA for the mass market.

ElectroNeek was named one of the 20 Rising Stars as part of the seventh-annual Forbes 2022 Cloud 100 list, the definitive list of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.

Midmarket leadership is confirmed by SoftwareReviews’ 2022 Robotic Process Automation Data Quadrant, where ElectroNeek is celebrated as a leading vendor for small and midsized IT Service Providers globally.

ElectroNeek is recognized by Everest Group as the Top Aspirant for the third consecutive year, advancing on the market impact scale.

Additionally, Zinnov Zones’ Hyper Intelligent Automation – H1 2022 rating placed ElectroNeek among market leaders for the second consecutive year.

The industry and market recognition mirrors ElectroNeek’s hypergrowth in 2021 and 2022. Once again proving that the bet on IT Service Providers as key customers and empowering them with a unique software platform built with Automation, Business, and Service Hubs is the winning approach to delivering automation to the market.

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