Financial information

Medius 2019 highlights

Revenue growth

Subscription revenue grew by 34% (28% LY) and recurring revenue accounted for 76% (72% LY) of total revenue.  

Sales achievements

The total net customer base grew by 24% (24% LY) and new ACV (Annualized Contract Value) sales grew by 32% to 91 MSEK (68 MSEK LY) ($10.1M USD). Total Contracted Annual Recurring Revenue (CARR) grew by 56% (24% LY) to 440 MSEK ($49M USD).  

A leader in source to pay for mid-market companies

In November 2019, Medius announced the acquisition of UK based procurement solution provider Wax Digital. The acquisition has transformed Medius from a market-leading accounts payable-focused solution into a comprehensive product suite with full source to pay (S2P) capabilities.  

Customer success

Medius has invested heavily in customer success initiatives over the past year, including the launch of a new support platform, self-service tools and back-end support systems. This has, among other factors, resulted in a 33% shortened customer support resolution time and excellent customer satisfaction rates across all regions of the world.  

Product innovation

As a true cloud solution, Medius releases product updates, innovation and new functionality on a regular basis to its customer community. The launch of MediusFlow capture built on machine learning technology, already used by 63 customers, represents a significant opportunity for customers to enhance their user experience and achieve greater automation rates and end-to-end control of the invoice workflow through one comprehensive solution.  

Read the press release: Accelerated growth for Medius in 2019