Eficode's revenue grew over 51% last financial year, fueled by development tools going to the cloud

AI is now part of software development, integrated into both tools and development culture HELSINKI, Sept. 26, 2024 /PRNewswire/ -- Eficode grew by more than 51% last year, increasing revenue from €189.7 million to €287.2 million. Over the past four years, Eficode's compound annual growth rate (CAGR) was over 75%. Profitable, strong international growth Last fiscal year, Eficode acquired Avoset Oy in Finland and Jodocus GmbH in Germany. Eficode now has over 650 employees for DevOps, Agile, and associated tools and services, continuing its growth towards 1000 employees during the ongoing strategy period. Eficode's personnel in the United States doubled, while Eficode was recognized as the best company to work for in the UK. Both countries hit major milestones, including acquiring new customers for the Eficode ROOT Managed DevOps platform, and surpassing key Annual Recurring Revenue targets for the managed services from the customers in the region. Continental Europe experienced remarkable growth in consulting and managed services. Numerous large automotive, industrial, and financial enterprises continue to collaborate deeply with Eficode. "Every company will become a software organization and need to solve questions about the software development tools and culture," said Ilari Nurmi, CEO of Eficode. "Many of them are already expanding into platform engineering and GenAI, ...