OPINION: The company is on a modest growth trajectory below 5% p.a. amid some C-level churn. Cleverbridge introduced API-driven functionality in the Salesforce ecosystem with a focus on CPQ in the B2B space, an area where we see a lot of movement in terms of automation and optimization of processes. In January 2019, the company received an EU Payments Institute license significantly increasing its total addressable market. However, there does not seem to be a realistic plan for entry into a Payment Facilitator (PayFac) business or a fully functional subscription management capability. Cleverbridge pricing remains focused on revenue share and limits expansion into larger enterprise accounts. Sales and marketing show room for improvement as sales headcount diminished.
USE CASE: Companies with $5 million to $50 million in sales of digital goods looking to expand globally and seeking a full-service (Merchant of Record) model.
COMPETITORS: 2Checkout, Digital River, FastSpring, Nexway, PayPro Global
