Redzone, the #1 Connected Workforce technology solution, announced a record year, reporting ARR bookings growth of nearly 80% and adding more than 100 new customers in 2021. The company, which is backed by global growth investor Summit Partners, also announced the addition of software industry executive Bill Berutti as Vice Chair of the Redzone Board of Directors.
Redzone is on a mission to transform the frontline worker experience in manufacturing. Labor shortages, worker burnout and supply chain disruptions have put significant margin pressure on manufacturers of all sizes. Redzone's Connected Worker platform is designed to address these challenges head-on with a SaaS-based collaboration and engagement solution that has helped to improve worker retention and delivered productivity increases of more than 20% within 90 days of implementation at scale. Today, over 850 plants rely on Redzone's solution to help transform the productivity and employee experience of hundreds of thousands of frontline workers.
"At a time when demand for manufacturers' products and services is at historic levels, an acute labor shortage and escalating labor and material costs are forcing a rapid rethink across the industry," said Richard Tester, CEO at Redzone. "We believe wholeheartedly that productivity is the antidote to inflation. Our customers are reinventing their frontline employees' experience, empowering their teams with social technology that drives productivity from the floor up. In turn, improved productivity can help manufacturers offset rising frontline wages and drive higher margins; it's a win-win."
To further support Redzone's momentum, Bill Berutti, a prominent software industry veteran, has joined company's Board of Directors as Vice Chair. Mr. Berutti brings deep experience leading global, high growth businesses in the industrial software space, including Plex Systems, BMC Software and PTC.
"We are delighted to welcome Bill to the Redzone team," added Mark Sutcliffe, Executive Chairman at Redzone. "The last few years have demonstrated what Redzone has long understood: frontline workers are truly essential workers. Bill shares this belief and our passion for changing how work is done on the factory floor. He brings a wealth of experience in scaling industrial software businesses globally. We are thrilled he has chosen to join the Redzone board."
"The absence of purpose-built frontline technology has hindered manufacturers for years," added Mr. Berutti. "Redzone has achieved significant scale – with run rate revenue of more than $65 million -- by delivering on this clear market need. I am excited to join Redzone's growth journey and help extend their leadership position in the Connected Worker category."
"Employee retention and engagement has never been more crucial, especially as manufacturers seek to keep plant floors running in order to meet rising customer demand while navigating escalating material costs and supply chain disruption. We believe Redzone is uniquely positioned to help manufacturers address these issues, and the company's rapid, profitable growth over the last several years speaks to the effectiveness of their approach," said Jay Pauley, Managing Director at Summit Partners. "At Summit, we have invested across the industrial software and technology sector for decades, and we are delighted to partner with the Redzone team for this next phase of growth," added Summit Partners Managing Director Len Ferrington. Both Jay Pauley and Len Ferrington joined the Redzone Board of Directors in 2020.
As the #1 connected workforce solution in manufacturing, Redzone enables frontline teams to contribute their full potential, elevating the frontline with new technology to achieve company goals around productivity and throughput. Today, hundreds of thousands of frontline workers are valued, celebrated, and working with purpose; creating stronger communities inside and outside their plants. With customers both big and small, Redzone is helping more than 850 plants worldwide achieve remarkable productivity gains in just 90 days.
Redzone is a privately held company, headquartered in Miami, Florida, with operations around the world. For more information visit www.rzsoftware.com.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $42 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 200 have been acquired through strategic mergers and sales. For more information, please visit www.summitpartners.com or follow on LinkedIn.