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100 Percent of Knovel's US Academic Customers Renew in 20112011 Highlights Include International Expansion, Continued Double-Digit Sales Growth and the Introduction of Knovel Databases (February 27, 2012)
NEW YORK, NY -- (Marketwire) -- 02/27/12 -- Knovel, provider of a Web-based application integrating technical information with analytical and search tools, today announced that 100 percent of its US academic customers renewed subscriptions in 2011, and the annual renewal rate for all markets continues to exceed 90 percent. Knovel again achieved double-digit sales growth in 2011. The company attributes these successes to its strong commitment to customer service, exclusive focus on engineers and the expansion of its high quality content offerings.
Business growth fueled robust hiring that expanded Knovel's employee base by 28 percent across the board including the addition of a new CFO, Senior VP of Global Sales and Vice President of Product Management. In 2011, Knovel established sales and business development teams in the UK; new business secured by this team includes Arup, Queen Mary, University of London, The University of Southampton and The University of the West of England.
In 2011, Knovel was listed among the EContent 100 for the 6th time and saw record participation in the Knovel University Challenge with more than 12,000 student entries from more than 600 universities worldwide.
Knovel expanded its content offering by 15 percent in 2011. It also added 10 publishing partners and new Editorial Advisory Board members, reinforcing its ability to deliver the most relevant and trusted content in the industry.
The company introduced two new databases exclusively available via Knovel's Critical Content line: The Magnesium Alloy Database and The Optical and Filter Glass Database. Both include highly interactive tables, graphs and data compiled from authoritative sources. Knovel aims to deliver content that allows engineers to find answers dramatically faster than they would otherwise. Dedicated resources are in place to expand Knovel's Critical Content offering in 2012. Knovel also added several specialized subject areas, including mining engineering and metallurgy, computer hardware engineering, welding engineering and materials joining.
"Over the past year, we've expanded our content offering, our management team and business internationally," said Chris Forbes, CEO and president of Knovel. "Our annual renewals continue to exceed 90 percent overall and demand remains strong despite flat and reduced budgets that many had in 2011. This a testament to the value customers find in Knovel. Engineers need fast access to credible information, and they have come to rely on Knovel for answers to technical questions."
Knovel is a Web-based application integrating technical information with analytical and search tools to drive innovation and deliver answers engineers can trust. Knovel users include thousands of engineers and applied scientists worldwide. Knovel has more than 700 customers worldwide including 74 of the Fortune 500 companies and more than 300 leading universities. Founded in 2000, Knovel is a private company headquartered in New York City. For more information, visit www.knovel.com or call (866) 240-8174.
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