WorkWave Reports 2021 Growth
WorkWave, a provider of SaaS software solutions that support every stage of a service business’s life cycle, drove its outstanding 2021 business performance into the closing months of the year, with a year-over-year revenue growth of 116 percent and an annual recurring revenue increase of 149 percent.
WorkWave’s extraordinary performance results throughout 2021 demonstrate the power of the company’s unprecedented growth strategy, bringing together market leaders across multiple field service industries to deliver the broadest and deepest set of solutions that empower field service providers. WorkWave’s software revenue growth saw an increase of 69 percent in 2021, a testament to the value that WorkWave solutions deliver, helping their customers grow their businesses, service their customers and maximize their money.
“In 2021 the WorkWave team demonstrated that not only can we deliver industry-leading financial performance, but we could do it while also bringing together five industry-leading companies to create one cohesive company focused entirely on our customers' success,” says David F. Giannetto, CEO of WorkWave. “Every one of the companies who are now part of the WorkWave family of brands chose to join together because we believe in the same vision — empowering our customers to think beyond service, and taking their companies to new levels of growth, service and profitability. 2021 set the foundation not just for the future of WorkWave; it also drove us to create a new SaaS software model that will transform the future of field service, one that we predict will be replicated across the industry as others strive for the same success."
WorkWave also experienced a monumental 294 increase in talent as it expanded globally, bringing together the best and brightest experts across the field service industry to fuel this vision and ensure it is capable of delivering the most value to its customers.
Top 2021 milestones include:
- February 2021 – WorkWave launched Marketing Sales Center, a powerful sales and marketing platform that integrates directly into WorkWave PestPac, enabling users to grow their businesses and transform their sales processes.
- March 2021 - WorkWave announced that EQT and TA Associates elevated WorkWave’s status in their respective portfolios to a free standing company.
- May 2021 - WorkWave announced its acquisition of Slingshot, a leading provider of customer call center software combined with outsourced sales, lead and customer response services.
- June 2021 - WorkWave announced its acquisition of Real Green, a prominent provider of field service solutions in the green service industries. WorkWave also acquired Coalmarch, a leading provider of software-oriented digital marketing, and Lawnbot, a next generation online sales solution.
- Sept. 2021 - WorkWave announced that it acquired TEAM Software, a global leader providing software and solutions for cleaning, janitorial, security and facilities management service providers.
- Sept. 2021 - WorkWave announced the launch of WorkWave Marketplace, an embedded online portal of integrated product solutions, trusted service partners, and exclusive offers that provide field service businesses with unique opportunities to maximize their partnership with WorkWave, also laying the foundation for the integration of financial offerings to be delivered in 2022.
“Building strong relationships continues to remain our top priority, which is reflected in our strong financial performance this year,” says Jana Hey, CFO of WorkWave. “It is with the support of our customers that we have built, and will continue to build, solutions that empower our customers to succeed, while also allowing WorkWave to remain the company most capable of using its financial success to drive further innovation across our products and solutions.”