RightRev NewsSeptember 2, 2022
RightRev’s second anniversary is approaching, and we wanted to share our journey from the past year. With exciting new features planned, we are ready to take RightRev to the next level. Recently, we have been working hard to expand our team to quickly and efficiently meet all the demands for a next-generation revenue recognition automation tool. With that in mind, here is an overview of our achievements from this past year.
Over the past year, we have started and expanded our Sales and Marketing department to five employees. Our go-to-market efforts have led us to a double-digit customer count, including expansion into EMEA. In just two short years since our inception, we have surpassed $1 million in annual recurring revenue! We will have several highly recognizable brands going live with RightRev in the next eight weeks. With the go-lives planned for the Summer of 2022, we will soon have $10+ billion in contracted revenue processing through RightRev, which is a testament to our product’s reliability and capacity to handle large transaction volumes quickly.
On the business side, we’ve been working hard on expanding our partner network. We’re excited to welcome arganoaMind, N28, The Connor Group, and Emelar Consulting Group to our partner ecosystem and look forward to working with their experienced teams. We won the TiE Top 50 Technology Startups in Silicon Valley award and were recognized as a Will Reed Top 100 Early-Stage Company to Work For. We’re now at 50+ employees, with a majority in PDE (Product, Design, and Engineering).
We wouldn’t have scaled to this point without long hours dedicated to building and enhancing our product to create a best-in-class, automated revenue recognition software. Internally, we also use best-in-class tools and technologies to develop our revenue engine. One example of how we adopt the latest technology is through microservices, which allow for lightweight protocols and agile deployment to improve the time to process bulk volume billings. We have worked tirelessly at continually enhancing the features and capabilities of RightRev to meet revenue models of all kinds- subscription, consumption, or perpetual.
Our DevOps and Engineering teams have now written one million lines of product code. The team has developed more than 170 microservices and uses hundreds of state-of-the-art technologies that help make RightRev a leading automated revenue recognition software. As we continue to add customers to both our Standalone and Salesforce platform products, we are regularly improving our UI and UX to make our products easier to use.
As we continue to enrich our product, be on the lookout for new features like foreign exchange accounting, additional SSP rule enhancements, holds on Revenue Contracts, and a “Dataverse” (we’re tight-lipped on this now, but we’ll have exciting news in the coming months).
As we start this new year, our top priorities are expanding our product offerings, expanding our reach and acquisition channels, and hiring new team members. In addition, we are seeking partnerships with complementary services that can help extend our footprint. We’ll continue to cater to our customers’ needs to ensure we offer a top-notch experience with our product. Over the last year, we’ve hired several people to help us with sales, marketing, and engineering, but in the next year, we hope to onboard new team members to help us grow our brand and business even more. See our open positions here.
We hope you have enjoyed learning more about what we’ve been working on behind the scenes and our plans for the following year. We encourage you to stay engaged with us as we strive to make RightRev a valuable resource for finance and accounting professionals. If you’d like to hear more about how we can help streamline your Quote-to-Cash processes, check out our latest webinar here.