Qstream continues to achieve new bookings growth momentum while expanding total contract value and client renewals of its market-leading microlearning solution.
Burlington, MA, January 28, 2021 — Microlearning technology market leader Qstream, today announces its fourth-quarter 2020 and total year financial performance. Performance in new bookings for Qstream’s innovative solution continued to grow in the fourth-quarter, resulting in an overall 34% increase in new bookings year-over-year. In addition, a shift toward enterprise deals and multi-year contracts saw Qstream’s total contract value increase by 67% year-over-year.
Expansion was fueled in part by Qstream’s increasing footprint enterprise-wide. Rather than using Qstream’s science-based approach for specific cohorts within an organization, including sales enablement, companies are using Qstream for other use cases such as compliance and other broad L&D objectives.
“Our customers are seeing the incredible potential in how Qstream can revolutionize the way their workforces learn and retain information,” said David Kelly, Director of Finance at Qstream. “The trust they place in our team lets us reinvest in the business in terms of hiring, innovation in product design, and expanded market awareness through marketing initiatives.”
“During an unexpected year, I am proud of the Qstream team that was able to adjust quickly, stay focused, and continue to serve our customers with the greatest value our product brings as part of their business strategy,” said Rich Lanchantin, CEO, Qstream. “We will build on this momentum in 2021 and extend our growth as the world’s leading microlearning technology.”
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