Hires former OpenFin veteran to accelerate sales expansion
NEW YORK, Aug. 3, 2022 /CNW/ -- Glue42, the company that delivers integrated desktop experiences to financial institutions globally, today announced that it is headed for a record year. During the first half of this year, the company doubled its revenue of 2021, setting itself up for a year-on-year growth of at least 300 percent by the end of 2022.
The growth is the result of an increasing number of global banks, asset managers, broker dealers, advisory firms and vendors recognizing the benefits of the company's long list of interop innovations. Only last month, the firm announced signing AllianceBernstein and was awarded Best Tool for Trading Efficiency. The latter wasn't the first award the team scooped this year. It was also recognized as Best Smart Trader Desktop Environment and the forerunner in Desktop Integration.
In addition to the explosive license revenue growth, Glue42's success can be further attributed to significant and rapid expansion of capital markets know-how across its entire business, a growing set of solutions and a more diverse partner ecosystem, taking the company into new market segments and geographies.
"Despite market volatility, we are outperforming our set revenue projections for 2022," said James Wooster, COO, Glue42. "The need for simplified desktop integration solutions with related workflow and process improvements, means that we are now the vendor of choice for buy and sell-side institutions of all sizes."
"We expect to finish the year on a high note with new clients in other industry verticals such as energy and transportation, and regions such Asia Pacific," he continued. "Part of this growth is a result of our evolving partner ecosystem. More and more, we are adding strategic partners that are making Glue42 an integral part of their mainstream financial services applications and product suites. These opportunities represent a significant new route to market for us. Moreover, it extends our reach to the high street branches and consumer world."
Since its inception, Glue42 has made it its mission to re-imagine the desktop. The result is a set of platforms, tools and supporting services that simplify user experiences and minimize development effort. By integrating data and orchestrating user interfaces, users can now assemble in-house, third-party, legacy and web systems into straight-through workflowstm faster and easier than ever before, speeding up digital transformation and improving business outcomes.
Most recently, the company launched Glue42 Core+ to enable firms to create and deploy their own workspaces with nothing more than a web browser. This zero-install platform provides some unique features including connectivity to locally installed applications such as Bloomberg and Fidessa, plus continued support for FDC3, notifications and chat integration.
"Many of our users are digital natives, and they expect their desktops to work in the same way as their cell phones," said Reena Raichura, Director, Head of Product Solutions, Glue42. "These users want intelligent and integrated desktops to support their workflows. They want workflow and data-driven desktops. As a result, centralized alerting, workflow and task acceleration and management has become a key focus for many firms."
"We're also seeing how the importance of chat as an end-to-end workflow and collaboration tool is gathering momentum," she continued. "Next, we will be gearing up for internet scale and new markets."
"None of this would have been possible without a stellar team," said James Wooster. "We added hires across the organization supporting areas such as sales, presales, solutions, business development, partnerships, marketing, and operations, and we will continue to aggressively expand our team. As we enter new segments and markets, and grow our partner ecosystem, we will bolster our growth with more new hires. We couldn't be more excited about this prospect. The future is bright."
To further support this growth, Glue42 recently appointed industry veterans across various business areas. Tim Camuti, formerly at JPMorgan Chase & Co, will lead design and UX efforts. Hailing from Eventus and Bloomberg, Roger Chandler will support the growing partner network. Feroze Beebeejaun, former FactSet, joins the sales team. Michael Horsley, formerly at Hyperscience will lead customer success. Finally, Simon Morris joins from OpenFin to bolster sales activities globally, including a significant focus on the APAC region.
Glue42 enables organizations to build intelligent desktops that support configurable workflows between web and desktop applications. Its integration platforms seamlessly and securely orchestrate UI and data and leverages open-source initiatives such as FINOS FDC3 to reduce application delivery times and accelerate time to value. The company is based in London, New York, and Bulgaria. With over 45,000 licenses, its software is deployed at tier one financial institutions across the world. https://glue42.com/why-glue42/
Contact on behalf of Glue42
Simona Cotta-Ramusino / Tinne Teugels
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