iManage, the company dedicated to Making Knowledge WorkTM, announces strong growth in the company’s cloud services business. Organizations modernizing their IT infrastructures and systems to support new needs of knowledge workers and the evolving demands of clients have adopted iManage Cloud to drive increased business agility, knowledge worker productivity, and enhanced security and governance over critical business information.
Having achieved 59% Year over Year (YOY) growth in SaaS revenue in 2020, iManage continues to drive elevated customer engagement and adoption of its leading cloud-based knowledge work platform. Additional milestones demonstrate strong growth and industry leadership across market sectors and technology innovation:
Cloud Leadership
- 81% increase in new SaaS bookings in Q2 2021 vs. Q2 2020
- 591 new cloud customers and cloud conversions since the start of 2020, contributing to 46% of iManage’s 3700+ customers in iManage Cloud. Growth forecasting predicts that more than half of iManage customers will be in the cloud by end of 2021
- Ongoing, rapid growth in the Fortune 500, including two of the largest global financial institutions, demonstrating that the iManage Cloud meets the security and functional needs of these most demanding organizations
Overwhelming Choice for Large Global Law Firms and Mid-Market Growth
- 78% of the Global Law 100, 21 of 25 of the top Canadian law firms, 77% of the AmLaw 200, and 75% of the AmLaw
- Linklaters’ selection of iManage Work in Q2 2021 makes iManage the document and email management system (DMS) of choice for all five of the prestigious, UK Magic Circle firms
- Share of small- to mid-market law firms has increased dramatically, currently making up almost 60% of iManage customers worldwide. Since 2020, 90% of new accounts in this sector are adopting iManage Cloud
Product and Security Excellence and Expansion
- Global availability of Legal Transaction Management (LTM) product, iManage Closing Folders, acquired August 2020
- Availability of all iManage risk management products in iManage Cloud, beginning Q4 2021
- Ongoing elite security leadership with achievement of Cloud Security Alliance (CSA) Security Trust Assurance and Risk (STAR) Level 2 certification, a rigorous third-party independent assessment of the security of cloud service providers
- Adoption of Microsoft Azure for the iManage Cloud, announced Q2 2021, adds critical security features, enhanced availability and global footprint to meet clients’ jurisdictional data residency and processing requirements