AIM-listed WANdisco Plc, a Sheffield-based software company with offices in Silicon Valley, today announced a 60% year-on-year rise in subscription bookings. Total bookings rose to $3.38m for the first half of the year.
The company, founded by David Richards (pictured), Jim Campigli and Dr. Yeturu Aahlad in 2005, listed on the London Stock Exchange's junior slope on June 1, raising £15m in an oversubscribed flotation, which valued the company at £37m. Its market capitalisation has since risen to £44.45m, an on-track performance deemed highly encouraging for UK technology companies considering public market listings.
New customers to its suite of collaboration software products, the back-end systems used by developers dispersed globally, included Pitney Bowes and its first deal with a Chinese company, Huawei, ensuring WANdisco achieved one of its stated objectives upon admission to the Alternative Investment Market.
In its trading update for the six months to June 30 2012, the company also said the value of renewal rates to its software for the period stood at 230%, with many customers purchasing additional user licences or signing up to multi-year subscriptions. WANdisco also launched training and enterprise-level versions of its products, during the first half of the year.
Investment in new products for the Big Data market and an expansion of its sales team will now follow, the company reported.