G2 Closes Record Setting Quarter Amid Shifting Buyer Landscape

December 2, 2020

As we begin to celebrate the holidays after such a challenging 2020, we want to express our gratitude to our growing G2 community of software buyers and sellers, as well as our partners, investors and employees who have come together so well to support each other amidst trying times. 

We’re proud to share that through our fiscal third quarter (ended 10/31), we have already helped over 40 million software buyers discover, evaluate, and buy the software and cloud services they need more than ever to collaborate digitally to keep their businesses growing amidst this pandemic.

Despite economic challenges, we are optimistic about the continued rebound in our global economies thanks to the volume of research & buying across major segments of the market. For instance, nearly 16 million buyers from enterprise sized organizations  have visited G2.com this year, making Enterprise one of our fastest growing segments visiting G2.com and now representing 40% of our total traffic. We are also seeing a global economic rebound with International visitors having grown even more rapidly with 50% more buyers coming from Europe  and 100% more buyers coming from Asian countries.

With software buyers increasingly shopping on digital platforms like G2, software sellers are aligning their marketing investments accordingly. Over 1,700 software and cloud service providers now use G2 marketing solutions to amplify their authentic customer voice resulting in G2’s marketing solutions revenue growing by over 25% over the past year.   

To further help software sellers grow, earlier this year G2 joined the LinkedIn Marketing Partner program to help technology brands reach their most active buyers within the network their buyers are most active on—LinkedIn. Additionally, more G2 user reviews are displayed in the AWS Marketplace than ever before. With more than 6,000 products from 1,600 vendors, customers using AWS marketplace now see more than 95,000 authenticated business software user reviews.

Enterprise market leaders including AutoDesk are using G2’s Marketing Solutions to grow their business by targeting prospective buyers that have researched design, engineering and construction software on G2.com. Using G2’s Buyer Intent and LinkedIn Matched Audiences solution, AutoDesk was able to increase ad conversion rates from 19% to 26% while reducing overall CPA by 25%. 

Thanks to this strong web traffic and revenue growth, as well as G2 shifting to smart, efficient growth earlier this year to ensure we could weather the potential adverse economic impact of the pandemic, we achieved our first ever month of positive cash flow ensuring that we can control our destiny and realize our long-term vision.

G2’s solid growth this year comes as two industry veterans joined G2’s leadership team. Mike Weir, former Senior Director of LinkedIn Marketing Solution’s Technology Industry, now leads G2’s revenue organization as Chief Revenue Officer. And, in January, award-winning product management executive, Sara Rossio, joined as Chief Product Officer.   We’ve resumed hiring top talent around the world of G2 and built a team of nearly 400 top notch professionals all aligned to realize our vision of building the place you go for software.

As buyers and sellers seek new communities of engagement amid the COVID-19 pandemic, B2B marketplaces like G2.com will experience even more growth in 2021, according to Forrester’s latest New Tech Report: Marketplace Development Platforms And Tools

With increasing demand for B2B marketplaces and an established team of seasoned industry leaders, G2 CEO and Co-Founder, Godard Abel, believes G2’s marketplace is poised for unprecedented growth in 2021. “COVID-19 has only accelerated a trend that’s been underway for years. The need for trusted B2B marketplaces will only increase as more buyers grow accustomed to using them, and more sellers incorporate them into their go-to-market strategies.”