American Virtual Cloud Technologies, Inc. (AVCtechnologies) announced that it projects revenues of its Kandy Business Unit to grow from $14.3 million in 2020 to approximately $18.8 million in 2021 and in excess of $37 million in 2022. The significant projected growth is driven by 505% year-over-year subscriber growth (90% CAGR) from January 2019 to today.
AVCtechnologies delivers a full suite of cloud-based Unified Communications as a Service (UCaaS) capabilities to its cloud customers through its carrier-grade Kandy Business Solutions including Cloud PBX, Smart Office UC Clients, Collaboration, Contact Center, and SIP Trunks. The projected annual growth of the Kandy Business Unit comes as a result of deeper penetration with existing service provider and enterprise customers including IBM, AT&T, and Etisalat and expansion into new customer relationships.
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“AVCtechnologies is positioned to gain market share as a premier white-label cloud communications provider, checking the CPaaS, CCaaS & UCaaS boxes, while also capitalizing on direct to enterprise capabilities,” said Darrell J. Mays, CEO of AVCtechnologies.
Larry Mock, AVCtechnologies’s Board Chair, said “These market, customer, and product achievements are why I have repeatedly invested in AVCT and its predecessor companies since 2011, why I have never sold a share of the company’s stock, and why I continue to believe in the opportunity.”
AVCtechnologies previously announced a strategic focus on acquisitions and organic growth in its cloud technologies business as well as to explore strategic opportunities for its IT solutions business, including the planned divestiture of Computex Technology Group (Computex).
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