Clarabridge is now all about text mining SaaS
Clarabridge CEO Sid Banerjee called with some product news that is embargoed until the Text Analytics Summit, and which I hence won’t write about at this time. But during the call, I discovered something interesting – Clarabridge’s hosted/SaaS (Software as a Service) text mining offering has taken over its business. Highlights of the call included:
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SaaS represents over half of Clarabridge’s revenue. Please note that this surely means well over half of Clarabridge’s new sales are in SaaS, because of how revenue is recognized. And these fractions are still growing.
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Clarabridge is making 10-15 sales transactions/quarter.
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Clarabridge reports 500%+ sales and revenue growth in 2007. (Note that Clarabridge was only recently founded and spun out of Claraview, unlike a number of competitors.)
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Over half of Clarabridge’s customers are already on SaaS. Given the other figures already cited, that’s unsurprising.
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Clarabridge is selling to business departments, in customer-oriented areas (marketing, support, product management, etc.). IT hasn’t embraced text mining technology yet.
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A large customer may get up to 1-3 terabytes of content into Clarabridge over the course of a year. (Obviously, the sample size here is small.)
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Clarabridge says that customers quickly expand their usage to multiple corpuses of data, and multiple business departments. (But then, I’m trying to think of an analytic technology vendor who doesn’t say that, and I’m drawing a blank.)
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In particular, Clarabridge thinks it’s important that its customers can and do fuse internal and external text data. Internal text might be email, survey forms, or call center verbatims. External text might be blog or forum postings.
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Clarabridge has developed a Web services API to bring data back to customer sites, for integration with other data — but few customers care yet. Mainly, they’re operating on a pure outsourced basis.
I’ll post about Clarabridge’s actual applications and customer segments separately.
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Clarabridge is now all about text mining SaaS…
June 4, 2008…
[…] thoughts as to why the SaaS share isn’t even higher – as it seems to be for Clarabridge* – centered on the point that some customers want to blend internal and external data, and may […]