As we dive into 2024, I want to take some time to reflect on the big strides we’ve made over the past year and revisit our commitment to innovation, customer satisfaction, and growth in the Digital Asset Management space. Being rather new to Orange Logic gives me a fresh perspective and a sense of gratitude for our customers, partners and team members who are building something truly unique and special.
New business milestones and a new partnership
In terms of growth, Orange Logic soared to new heights in 2023, setting records for revenue (over 50% growth) and the number of new global brands and enterprise organizations using our platform.These additions showcase the growing trust and recognition our brand has earned in the market. We’re so excited to welcome these new customers to the Orange Logic family, and we’ll have some exciting new customer stories to share with all of you in the coming months.
Also, in May of 2023 a pivotal moment in the Orange Logic’s growth journey occurred when Bregal Sagemount became a strategic partner. Orange Logic is profitable and has always been profitable. Karl and team brought in our new partners for the primary reason of accelerating growth moving forward. Their support has empowered us to channel even more attention into enhancing our products and services. Karl’s desire to transition to his passion of developing products has allowed me the opportunity to take on the role of CEO at Orange Logic.
Introduction of a new leader and continued product focus
I joined Orange Logic based upon the amazing culture, people and technology. From my first conversation with Karl, it was clear that Orange Logic was truly distinctive. My excitement for the DAM space and our collective opportunity has only grown stronger as I have had a chance to meet with our team, customers and partners across the industry. We are on a mission to deliver the world's best DAM solutions for our customers across the globe.
Karl can now redirect his focus to the core passion that sparked the creation of Orange Logic—product design. As CPO, Karl and his team are doubling down on our commitment to refining Cortex in 2024, including increasing the head count of our R&D team by nearly 100%. We are also substantially ramping our customer-facing functions across Professional Services and Customer Success.
Customer-centric innovations and future enhancements
At the heart of our success is our ability to not only listen to, but quickly adapt and react to the needs of our customers and the market. This past year our product team was continually able to turn customer feature requests into new, supported product functionality. Our unique ability to quickly react to these enhancement requests is what’s allowed us to maintain a 99% customer retention rate over the history of our company.
By being API first, we've positioned ourselves to swiftly integrate emerging technologies in the DAM marketplace along with integrations that matter to our clients. We also made major advancements to our work-in-progress, AI tools, our support for 3D and 360 file formats.
And for 2024, we’re not slowing down, having already released our newest version, Havana, in the first few days of the New Year. Our newest release shows our continued commitment to product enhancements and integrations, and as the year progresses we’ll be making significant investments in improving our Generative AI tools, MAM and video editing functionality, Workflow automation, and various aspects of our Media Resource Management offerings (MRM).
And to ensure you get everything you need out of Orange Logic, we’ve created a new Customer Success Team, led by Misti Vogt. This new team ensures our clients receive unparalleled support, further strengthening our relationships and enhancing overall customer experience.
Thank you and looking ahead
As we celebrate the achievements of 2023 and venture head first into the opportunities ahead, it's essential to acknowledge that this success is not solely ours but a collective triumph shared with our customers, partners, and stakeholders. Your trust and support has been instrumental in shaping this incredible journey, and we are immensely grateful for the role each of you has played.
We are committed to building on the momentum of 2023 and exploring new horizons. The journey ahead promises to be as dynamic and innovative as ever, and we invite you to join us on this thrilling ride.
- Brian McLaughlin, CEO
