Vindicia, a provider of software-as-a-service billing solutions for online gaming companies and other industries, reported an 80 percent year-over-year revenue growth for 2010 and a record revenue month last December.
Founded in 2003 and based in Belmont, California, Vindicia provides billing solutions for a variety of business models, including subscriptions, free-to-play, and more. Its gaming clients include Cryptic Studios/Atari, Activision Blizzard, and Mind Candy, while it also serves non-gaming companies like Symantec and Transunion.
The firm says it enjoyed a 100 percent increase in clients in production last year, as well as "equally strong growth" across all the market segments it serves: software, online dating, gaming, and media/content. Clients sent $2 billion in transactions through Vindicia in 2010, generating $50 million in annual incremental revenue for the company.
Vindicia notes that it increased its staff by 40 percent across sales, client services, and engineering as it moved to a larger headquarters last year. It also introduced product line enhancements like Hosted Order Automation, support European Direct Debit, new proration and hierarchical account features, and more.
"Our goal has always been to support the business needs of digital leaders with solutions that deliver significant value beyond simple automation," says Vindicia's CEO and chairman Gene Hoffman. "The key to market leadership lives within the data collected during the billing process – not just the process itself – and the rewards are dramatic."
Hoffman continues, "Our clients’ leadership across their own market segments is a testament to that, and that they gained $50 million in additional revenue through increased customer retention shows the enormous impact of our SaaS billing solution."