Commercial credit and business profile vendor Creditsafe expanded its coverage footprint to over 100 countries with the addition of sixteen Middle Eastern and North African countries. Creditsafe is now able to provide real-time reports for 240 million companies. Key new countries include Saudi Arabia, UAE, Kuwait, Lebanon, Jordan, Egypt, and Lebanon. In 2016, the firm added Southeast Asian coverage along with 40 million Chinese company profiles.
“This mark’s the single largest and most significant database expansion we have done to date. And, it completes our global offering. No one in the marketplace offers such a comprehensive solution supported by an incredible portfolio of analytics,” said Matthew Debbage, CEO of Creditsafe USA and Asia. “Not only have we added critical financial data on thousands of public and private companies to our platform, but we are providing insight on many located in Middle East and Africa which have proven to be complex economies in the past. We can now provide International Database Reports on millions of companies instantly online. No one else in the market offers the level of data that we do.”
Based on its coverage map, the most significant gaps are in Latin America (e.g. Argentina, Chile, Colombia, Costa Rica) and Africa (e.g. South Africa, Ghana, Morocco, Tunisia).
Creditsafe processes over one million daily updates collected from over 200 sources. Furthermore, the firm claims that 99.9% of report requests are delivered in real-time.
Last year, Creditsafe launched US and UK sales intelligence services under the Sales Joe brand. The product provides prospecting, look-a-like customers, light SFA tools (e.g. notes, dialer support, meeting scheduling), task tracking, and deal opportunity forecasting.
“The big development during the year was launching our new lead management tool, Sales Joe, which enables businesses to build effective sales campaigns using company information gathered from Creditsafe’s extensive database,” said Chris Robertson, global sales director at Creditsafe Group. “Our positive results have been fueled by strong customer retention, an increase in new business, and a further expansion and strengthening in our international offering to UK customers.”
Creditsafe revenue has grown 28% over the past twelve months. The firm maintains 18 offices and supports 200,000 users each day. Globally, Creditsafe employs 1,500 headcount.
Creditsafe USA posted $12.8 million in 2016 revenue with a three-year CAGR of 75%. Creditsafe opened US operations in 2012 and services 14,000 US customers out of its Lehigh, PA office. “Over the past several years, we have focused incredibly hard on building our business and brand in the US,” said Debbage.
Creditsafe UK also posted strong growth with 2016 revenues up 12% to £35.5 million and pre-tax profits of £8.1 million.
“More growth is expected in 2017, our 20th anniversary year,” added Robertson. “The growing sales force and the new products and technology being introduced this year will ensure our momentum continues and we further set ourselves apart from our competitors.”