Clue quarterly momentum report – Q1 2022
UK-based SaaS company attributes strong quarterly momentum to a growing demand for case management and intelligence tools to digitalise investigations.
BRISTOL: Clue, the investigation, case management and intelligence platform used globally by governments, police, private and non-profit sectors, has today (April 22) announced significant growth results for the first quarter of 2022.
The strong results speak to the widening market opportunity for investigative technology that facilitates integrity, transparency and accountability across industries. Clue enables organisations to more effectively counter threats including fraud, organised crime, corruption, terrorism and environmental crime.
Clue has reported growth at a CAGR of 90% and has achieved a net revenue retention rate of more than 100%. Following a significant growth investment, the company has welcomed on board seven new customers, increased the size of its team by 17% and expanded its product offering in Q1.
Clare Elford, CEO of Clue, said: “Our first-quarter growth is testament to the work of our new and existing client partners who are actively driving integrity across their respective sectors.”
“Legacy systems and spreadsheets are no longer sufficient to extract value from large volumes of complex data that investigations are increasingly reliant upon. Unified digital solutions offer powerful new opportunities in case management, intelligence and collaboration.”
“Clue is committed to supporting the digital transformation of investigations, case management and intelligence and is proud to be playing a valuable supporting role in the incredibly important work of our customers to prevent harm and seek justice. We are investing in the continued development of the Clue platform so that it better serves our customers in making a positive difference.”
Following investment by Frog Capital in November 2021, Clue has reported year-on-year growth at a CAGR of 90% and a quarterly growth rate of 17%. Clue has won high-profile customers active in the investigation and prevention of human trafficking, economic crime, environmental crime, sports corruption and safeguarding, and was named ‘one to watch’ in TechMarketView’s UK Police Software & IT Services: Suppliers, Trends & Forecasts 2021-2024.
Clue has grown its team by 17% this year following a round of strategic hires. Key appointments include former International Tennis Integrity Agency (ITIA) Senior Intelligence Officer, Phil Suddick, as Head of Sport; former Shutterstock Director of Customer Success EMEA, Rachel Evans, as Head of Customer Success, and technology sales leader, Alan Clark, as VP of Sales.
Clue has continued to develop its platform in Q1, enabling users to better connect data, identify relationships and reduce manual inputs on its mission to support the digitalisation of investigations. Internal promotions into Director of Engineering and Director of Innovation roles will further support Clue’s ambitious product roadmap through the remainder of 2022.
Clue has strengthened its position as a thought leader in counter fraud, releasing Counter Fraud in 2022: Navigating the Path to Prevention. Based on a survey of specialists in government and the public sector, the report reveals best practice being implemented to proactively disrupt fraud attempts as the crime reaches record highs.
Clue is a SaaS investigation case management and intelligence platform used by governments, police, private, and non-profit sectors globally to help counter threats including fraud, organised crime, corruption, terrorism, and environmental crime.
Clue helps organisations doing vitally important work, including protecting government budgets against fraudulent claims, disrupting human trafficking and organised criminal gangs, and catching cyber criminals.
Clue’s customers are dealing with increasing volumes and complexity of data to counter ever-evolving threats. Clue is bringing AI, automation, data insights and more into its platform to support its customers’ efforts to secure justice and prevent harm.