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Eficode racks up high growth driven by international demand

eficode office

Helsinki, Finland, 18 August 2022 -- Eficode’s revenue grew by 71,3% in its last fiscal year, up from 46,4 million to 79,5 million euros. The revenue has now more than tripled in three years, and there are several contributing factors.

Companies want development tools and processes managed by experts

Working with expert companies to build and maintain DevOps toolchains is becoming a prevalent strategy. Eficode is well positioned to meet this demand, as proven by more and more companies adopting the Eficode ROOT managed DevOps Platform as their solution for managing software development tools. Managed DevOps Platform has often been combined with explorations into enterprise Agile frameworks, providing scale in both processes and tools. The annual recurring revenue from managed services exceeded 10 million euros during the fiscal year.

Strong momentum in international markets

With its roots in Finland, the majority of Eficode’s many new customers (and customer expansions) now come from outside of Finland. During the year:

  • Eficode has gotten a firm foothold in the United Kingdom. A major UK-based financial institution adopted Eficode ROOT with the GitLab DevOps platform for its 10,000 end users
  • A major Germany-based commercial vehicle company adopted Eficode ROOT with GitHub and Atlassian
  • A significant Atlassian’s Enterprise License Agreement was signed with a major Swedish financial institution
  • Having acquired three companies in the previous year, two of which are based in Sweden and Switzerland respectively, Eficode is now able to serve and cross-sell services to many new clients in those regions.

Partnerships are in high demand

With Eficode’s clear “vendor neutral” stance, the main software development solution providers recognize and form partnerships with the company. This past fiscal year, Eficode:

A word from the CEO

“Software and product development expertise continues to be strategically important for our customers.”, says Eficode CEO, Ilari Nurmi. “A managed DevOps platform becomes an attractive way of delivering development tools together with the wider adoption of DevOps, Agile and cloud practices. It also puts our experts in places to deliver awesome value for our customers. I thank our customers for their trust, and the now more than 500 Eficodeans for their exceptional work every day.”

Popular events get global attention

As in previous years, The DevOps Conference was held online, attracting well over 8,000 registrations, and significant participation from the partner community, including Atlassian, GitLab, GitHub, and HashiCorp. 

Eficode also expanded The Future of Product Development as a hybrid event to an international audience, attracting over 600 registrations. All of the talks from both events are available online for free viewing.

Eficode was positioned second time by ISG in their Provider Lens™ Quadrant report for Public Cloud – Solutions & Services in the Nordic region. The Leader positioning comes with the motivation that Eficode has the “specialized knowledge needed to guide clients through their application transformation journeys”.

Media contacts

Ilari Nurmi, Chief Executive Officer, Eficode. ilari.nurmi@eficode.com, +358 40 577 5084 

Lauri Palokangas, Chief Marketing Officer, Eficode. lauri.palokangas@eficode.com, +358 50 486 4918 

About Eficode

Eficode is the leading DevOps company in Europe, driving the DevOps and Agile movement and building the future of software development across nine countries with about 500 professionals.

Eficode guides customers with DevOps and Agile skills and practices, and enables them to focus on their growth and customers with Eficode ROOT DevOps Platform: a managed service with over 40 preferred tools including Atlassian, GitLab, GitHub and Kubernetes; along with our Application Management and Atlassian services.

Press release