We have published our annual report for 2021. Read more about what our team and software solutions do to help an ever-increasing number of CFOs – and how it translates into strong sales growth.
2021 was a fantastic year for the House of Control Group. Our portfolio of Annual Recurring Revenue (ARR) grew by as much as 54 percent, of which 25 percent was organic. At the same time, we carried out three strategic acquisitions, all of which further strengthen our growth in 2022 and further towards 2025.
At House of Control, we have very ambitious growth targets. By the end of 2025, it is to grow our ARR to at least NOK 500 million. In 2021, we proved that we are on track to achieve this goal. Our ARR portfolio was approximately NOK 200 million, after an organic growth of 25 percent from the previous year. In addition, there is the effect of acquisitions, which added to a total ARR growth of 54 percent.
For more than 15 years, we have developed solutions based on customer-driven innovation. Together with our customers, we develop standardized and - not least - scalable solutions that have great user value. We are proud to have on-boarded 1,800 new customers last year.
Our market-leading tool for contract management, Complete Control, recently got a completely new skinning. We have increased user-friendliness and integration opportunities in close collaboration with a panel of customers. Thank you so much for contributing! Integrations are an important part of our strategic commitment to give our customers a seamless user experience across different solutions.
We have significantly strengthened our unique IFRS 16 Compliance solution. We have also established a strategically important endeavor into Europe for which we have high expectations. We have already secured several large customers in this exciting market.
It is the people in the House of Control organization who are responsible for the results we have already achieved - and the tasks ahead of us. From meeting-planners and on to hunters, customer success, development, products, HR, marketing, and finance… Everywhere we work ambitiously all the time. This is a DNA that has characterized the people in the company throughout the years, and we are very proud that we have managed to retain and further develop this part of the culture when we have gone from 13 employees in 2015 to 141 in 2021.
Many thanks to everyone who contributed so strongly in 2021! Not least, all our new employees should be thanked. It is, to put it mildly, challenging to start a new workplace in the middle of a pandemic: From being welcomed, receiving equipment, meeting colleagues… Thank you for both being so adaptable - and for being able to perform at such a high level so quickly.
The entire organization has shown a great willingness to change. Thank you for clearly supporting the strategy and our goal of reaching an ARR portfolio of NOK 500 million by the end of 2025.
Since 2015, we have had the pleasure of having Viking Venture on the team as the largest shareholder. Thank you so much for everything you have contributed so far.
House of Control is a Norwegian sunshine story with users in more than 65 countries. We look forward to the continuation!
- Lasse Sten, CEO in House of Control Group