Successful growth continues, as novomind generates EUR 31 million in revenue and expands internationally

The Hamburg-based novomind AG continues to grow and looks back on yet another excellent financial year. In 2017, the independent software development company generated revenue of EUR 31 million (2016: EUR 27.8 million). The 12% increase in revenue means that the company reached its objective of a double-digit growth for the 12th consecutive time. Consolidated revenue of the novomind Group, which comprises novomind AG as well as novomind iSHOP GmbH, novomind Egypt LLC and Piazza Blu² GmbH, totalled EUR 38 million in 2017 (2016: EUR 34.9 million). Between them, the company’s business segments won more than 25 new customers, including Mammut, the Swiss mountaineering brand, Verbraucherzentrale Niedersachsen (the Consumer Service Center of Lower Saxony, which was the first of its kind in Germany to introduce video chat) and the online shops of Peek und Cloppenburg. novomind currently employs over 300 people.

Proximity to customers and a consistent focus on their actual needs has always been key to novomind’s success. “In the past year, we were not only able to win over 25 new customers but also record growing demand from our existing customers in all business segments,” says Peter Samuelsen, founder and CEO of novomind. “We develop efficient software products for modern online performance in e-commerce and customer service. We do this in close cooperation with our customers, which means that our products are always customised to their practical requirements.” novomind solutions are used in the areas of customer service, e-shops, product information management (PIM) and international marketplace integration. Customers include institutions, associations and companies as well as government agencies of all sizes, financial services providers and mid-sized companies as well as international conglomerates. novomind software can be integrated flexibly in almost any environment.

International expansion: Subsidiary in Dubai

The growth of the past years is to be continued in 2018 and beyond. “We assume that we will be able to continue increasing our revenues steadily in the coming years,” says Peter Samuelsen. This expectation is based on the positive developments in novomind’s relevant national and international markets over the past years. Being an independent software company, novomind is already operating quickly and flexibly with its products in the European market. The company owes much of its success to the installation and expansion of its international partner network, as there is huge demand for intelligent, individualised and easy-to-integrate software solutions in the commerce and customer service sectors.

The opening of a subsidiary in Dubai is the latest milestone in novomind’s growth strategy. Launched in April 2018, novomind MEA (Middle East and Africa) serves as a gateway to the Middle East and African markets and ideally complements the existing fulfilment center in Egypt (novomind Egypt LLC). “This expansion into the MEA region will give a massive uplift to our international sales activities,” says Peter Samuelsen, adding: “We now have an up-and-running office in the Persian Gulf region and our team will be off to a flying start.” This has become possible because novomind has taken over the Dubai office of Almato MEA, a branch of Reutlingen-based Almato GmbH. Almato, a firm specialising in Robotic Process Automation (RPA), is a member of novomind AG’s partner network. The local Almato team has been retained by novomind and will continue to be led by Managing Director Hossam Amer.