ZoomInfo, Vancouver’s newest publicly traded company, is growing fast with help from the smaller tech companies it’s acquired.
The company, which provides data used in business-to-business marketing, increased its revenue by 53 percent year-over-year in its fiscal fourth quarter, according to a report released Monday. Revenue was $139.7 million in the fourth quarter and $476.2 million for the year.
Operating income was $29.6 million for the quarter and $37.1 million for the year, the company said.
Part of the quarterly revenue growth includes a $2 million boost in revenue from Q4 acquisitions of artificial intelligence companies, according to a news release; ZoomInfo acquired EverString in November; in October it acquired Clickagy.
By September of last year, the downtown Vancouver company, formerly DiscoverOrg, had absorbed six other businesses, including a merger with Zoom Information. DiscoverOrg changed its name to become ZoomInfo in 2019.
Co-founder and CEO Henry Schuck said in September that ZoomInfo would continue acquiring other tech companies as part of its strategic business plan.
“We ended the year strong, delivering another quarter of record results, highlighted by an industry-leading combination of growth and profitability,” said Schuck in the news release. “Our success is driven by the success of our customers, as we continue to help companies of all sizes, across all industries, modernize their go-to-market efforts with our expanding data, insights and automation platform.”
ZoomInfo went public on the Nasdaq under the symbol ZI in June 2020 and raised $934 million. On opening day, ZoomInfo offered 44.5 million shares valued at $21.
Shares closed at $53.43 Tuesday.
ZoomInfo sells subscriptions to massive searchable databases that help its clients connect to other businesses for marketing purposes. Part of its success is due to artificial intelligence and machine learning capabilities with its data. ZoomInfo ended 2020 with more than 20,000 customers, including more than 850 customers with annual contracts valued at $100,000 or greater, according to the news release.
The company also announced staff changes on Monday: Chris Hays was promoted to chief operating officer, Hila Nir was promoted to chief product officer and Shane Murphy-Reuter joined the company as chief marketing officer.