Friederike Truthe, September 6, 2018
Ubimax, the world's leading provider of augmented reality (AR) based wearable computing solutions, has doubled its software license revenue within one year. The positive business development is substantiated by increased headcount, the launch of a channel program and a new subsidiary in Mexico.
Bremen, September 6, 2018: While the consumer market is still waiting for real augmented reality innovations and inexpensive smart glasses, the technologies have already been firmly established within the industrial environment. Forecasts predict that the market for augmented reality will see groundbreaking growth to over $100 billion by 2020 (Forbes 2016). Many innovative companies such as Samsung and DHL discovered the potential of wearable computing and AR early on through Ubimax. Today, Ubimax counts around 200 companies from a wide range of industries among its customers and is continuing its growth course: The company was able to increase its software license sales by 100 percent year-on-year in 2016/2017. Ubimax is again growing at a double-digit rate and, according to the independent analyst firm ABI Research, Ubimax is the global market leader in its field.
In order to meet the great demand and the growing tasks, Ubimax has also continuously expanded internally. Within one year, the workforce has grown by 50 percent and now numbers 60 employees. Ubimax also attaches great importance to the further development of its sales and customer service structure: The Partner Excellence Program (PEP) was recently launched with a clear focus on channel activities. Together with its partners, Ubimax aims to further strengthen its customer orientation.
International presence to be expanded
With a new subsidiary in Guadalajara, Mexico, Ubimax is now taking another step towards realizing and supporting projects in Central and South America in the best possible way. At the same time, the company can respond even faster to the global demand for augmented reality and wearable computing solutions continuing to drive business development, especially in the USA.
Financially conservative for worldwide success
In 2016, Ubimax received $6 million in venture capital from investors Westcott LLC. and Atlantic Bridge. Unlike most of its competitors, however, Ubimax was able to break even in 2017 and is using the venture capital for further strategic growth.
Ubimax sees its financial solidity as an obligation to its clients to provide them with long-term support. Jan Junker, Chief Commercial Officer, comments: “Young companies in particular have a high investment requirement and many of our competitors waste the collected capital in an incredibly short time. Financially, we are rather conservative and aim for sustainable growth.”