Riffyn Doubles Customers and Recurring Revenue for Fourth Straight Year
The leading cloud-based intelligent process data system doubled its customer base across biopharm and industrial biotech.
OAKLAND, Calif.–(BUSINESS WIRE)–#RiffynNexus–Riffyn, provider of the industry’s most widely adopted cloud system for intelligent process design, closed another record-breaking year. In 2020, for the fourth year in a row, the company doubled its annual recurring revenue and customer base across the biopharmaceutical, material, renewable energy, healthcare, and food industries.
As the biopharma industry urgently responded to COVID-19, it also accelerated its transformation of aging IT infrastructure, particularly in cloud computing (46% of projected IT spending in 2021). Riffyn’s cloud software for intelligent process development, Riffyn Nexus™, supports such digital transformation at 3 of the top 6 largest biopharma companies and 3 of the top 5 largest industrial biotech companies.
Riffyn’s business achievements for 2020:
- Faster COVID-19 test development: Helped Imperial College London deliver novel COVID assays from concept to clinical use in just 9 weeks at the UK NHS and supported vaccine development projects.
- Advanced national biomanufacturing: Riffyn Nexus was selected as the digital backbone for BioMADE, the $275M national bio-industrial manufacturing innovation institute funded by the U.S. Department of Defense.
- Expanded enterprise adoption: 64% percent of Riffyn’s new revenue came from the top 50 life sciences companies in the world.
- Sustained customer growth: Riffyn customers expanded their deployment scale by 154% in 2020 while doubling its customer base.
- Demand surged from biotech startups: Riffyn’s startup customer base increased by over 700%, particularly in organizations advancing products through scale-up to manufacturing.
- Unmatched innovation: Riffyn was issued 4 new patents in the U.S. and 1 in China, strengthening its existing IP portfolio on process design and data analytics.
“One of the major selling points for us was that Riffyn Nexus does not try to do everything and lock out other software companies,” said Doug Friedman, CEO of BioMADE. “It does what it does extremely well and will allow us to plug into a diverse software ecosystem.”
Riffyn’s pioneering cloud system, Riffyn Nexus, delivers 2X faster development cycles and 4X productivity gains to the world’s scientific R&D organizations. Its process-centric experiment design, data capture, and data analytics overcome the limitations of traditional scientific data systems — delivering results that are always ready for machine learning. Visit www.riffyn.com.