Eka Reports Record Growth in 2019, Exceeds 100 Customers and over 4,000 Users
Key Growth Drivers:
- Eka reports strong business growth YOY at 35%
- Employee base grows 30%
- Eka awarded Technology House of the Year by Energy Risk
- Chartis ranks Eka in top three leading energy solutions providers
New York, January 29, 2020: Eka Software Solutions, a global leading provider of cloud Platform solutions for commodity markets, today announced record business growth YOY at 35%. New demand for Eka’s Cloud Platform fuelled the company’s client growth surpassing the 100-customer milestone – a significant accomplishment among tech-vendors serving the commodity industry.
Eka’s growth reflects the continuing momentum of the commodity industry embracing modern, cloud driven solutions in the face of increased volatility and complexity in commodity markets. Consequently, more and more commodity companies are realizing the benefits of digitalizing manual business processes to move at the speed of fast paced markets by leveraging connected data, workflows and configurations delivered on Eka’s modern and extensible cloud platform.
Through 2019, Eka’s customer base continued to increase with accelerated project go-lives, as they benefitted from dramatically reduced implementation time from months to weeks. The platform’s ability to cater to multiple commodities and asset classes led to the business establishing firm grounds in the CPG industry by adding some of the leading names to its client roster.
“Our multi-commodity cloud Platform continues to be a source of our competitive strength to commodity businesses, said Manav Garg, CEO & Founder, Eka Software Solutions. “Market volatility has intensified in the last couple of years. The constantly shifting dynamics of commodity markets has led to unprecedented challenges and opportunities for businesses, and our customers are increasingly choosing Eka’s Platform to help them navigate this change and reinvent themselves in the ever-evolving global market environment.”
In 2019, Eka was recognized by Chartis and Energy Risk among the top three energy solutions provider, while securing top honours in ‘innovation’ for its ground-breaking Platform driven Energy Trade & Risk Management (ETRM) solutions.
Eka also grew its employee size by 30% and entered 2020 with a workforce of nearly 450. The increase in workforce and delivery of over 50 applications on the platform reflects the company’s continued investment in the areas of engineering, technical support and customer success talent to support double-digit growth of its ground-breaking Platform.
Sidhartha Dash, Research Director, Chartis Research, described Eka as an “Innovative cross asset solution that is more flexible than a lot of traditional Energy trading and risk management solutions and is well aligned with some of the major directional shifts happening in the energy markets in general, and energy trading specifically.”
“Moving forward, we will continue to invest aggressively in our vison to help commodity markets build the future of their businesses – at speed and scale – through our Platform driven solutions and help them achieve faster time to value with complete visibility into their entire operations for more informed decisions,” said Garg.
Eka is a global leader in providing digital commodity management solutions driven by Cloud, Blockchain, Machine Learning and Analytics. The company’s best-of-breed solutions serve the entire trading value chain across agriculture, energy, metals and mining and manufacturing markets. Eka is reimagining commodity management with a new age architecture that breaks monolithic ETRM and CTRM systems into bite sized chunks of powerful, enterprise grade apps, thereby enabling faster implementation, adoption and decision making. Eka’s mobile-first, enterprise apps are embedded with commodity specific algorithms that empower businesses to stay on top of volatile markets by letting them scale at will, go live faster, and achieve better value for their investments. Eka has offices across the Americas, Asia, Australia, and EMEA serving 100+ customers globally across multiple commodity segments.