Thank you, Adam. And thank you all for taking time to join us for our second quarter fiscal year ‘22 earnings call. Q2 was a blockbuster quarter for E2open across the board. We exceeded our targets on every dimension and accomplished a quarterly organic growth rate of nearly 13%. We reached double-digit organic growth, one quarter earlier than expected and also raised our guidance for the second time in 6 months. E2open reached an 11% annual organic growth rate on a standalone basis for FY’22, as compared to our original projections of 10% growth for this fiscal year.
Before I provide more detail regarding our recent results, I'd like to share my perspective on the long-term trends that are contributing to our success and to our accelerating growth rate.
Our core client base a very large global companies, demand supply chain visibility and control across their extended supply chain networks. Their networks are increasingly complex, relying on hundreds, if not thousands of trading partners and tens of thousands of people to make and bring goods to market. The well-publicized product shortages, corporate SG&A and overall supply chain challenges have created more focus on global supply chains than any other point in my 30 year career in this industry. The trend towards more complex supply chains is accelerating, and our core client base are turning to E2open to resolve this complexity. Supply chain excellence is no longer relegated to functional leaders. It's now firmly a board and CEO imperative. Their focus is on improving the end-to-end supply chains and to do so they need better software.
We have a tremendous opportunity in front of us, as evidenced by our very strong second quarter earnings, a robust and growing pipeline, expanding yield on that pipeline and expanding new client wins.
Our platform helps clients avoid problems on one hand and react to problems more quickly on the other. We do this by bringing a company's entire ecosystem of partners into one interconnected platform.
Our approach creates a much more accurate and granular view of future demand, while allowing our clients to adapt more quickly to changes they will inevitably encounter. The only way to solve these seemingly intractable supply chain problems is to connect real time data with the world's best algorithms that is E2open.
Our largest clients view us as their supply chain.
While companies require the ability to adapt to rapidly changing environments, they also want more sustainable supply chains. I’m proud of how we are helping our environment making our customers supply chains more environmentally friendly. We do this by reducing waste, and helping our clients use the lowest cost transportation, which typically carries the lowest carbon footprint. Think ocean transportation, versus air transportation. Ocean transportation is eight times less expensive than air transportation, and comes with a much lower carbon footprint. I'll note that we released our first ESG report earlier this week, and it's available on our website.
Our vision is to become the lead supply chain operating platform for the world's best and largest companies. All brand owners operate complex supply chains, some are more complex than others.
Some are more global than others. They all invest heavily in supply chain software. We believe the current fragmented nature of supply chain technology provides a unique opportunity for E2open.
We are quite simply the best position company to capitalize on this unique moment in time. The supply chain software market is very large, over $50 billion. This market is now growing at double digits and continues to inflect upwards. Most large brand owners have a significant footprint on-premise, siloed legacy software. They need end-to-end software, they need that software in the cloud. The move to cloud has clearly begun, but it's still in very early innings.
We are an end-to-end cloud-based software company. Most supply chain software companies of our scale are converting to the cloud, and provide a siloed or singular solution.
We are the largest cloud provider in supply chain software.
We have the broadest set of functional capabilities, the largest network, and we serve a wide array of industries.
We have a powerful and proven M&A engine to further extend our capabilities and our platform.
We are in the process of networking, the world's industrial capacity, client by client, network by network, function by function.
Our marketing perspective informs us on how to capitalize on our unique position.
Our vision is to be the definitive cloud software provider that helps the world's largest companies make and bring products to market.
Our second quarter was record setting on nearly every dimension. We accelerated our revenue growth to 13%, the highest revenue growth the company has had in the past six years. We reached our goal of over 10% growth one quarter earlier than projected. We generated over $92 million in total non-GAAP revenue.
Given the strong performance our first half, in September we announced E2open will be at 11% organic growth for fiscal 2022 on a standalone basis. This raised our revenue guidance for the second time in 6 months. We raised our revenue guidance again for 3 reasons. One, very high confidence in future revenues given 82% of our revenue is derived from subscription contracts, most of which are three years or longer. 77% of net revenue is from clients with an average tenure of over 14 years. We know our clients. Two, before growth investments we previously outlined a materializing much, much sooner than we expected driving increasing revenue for fiscal '22. I'll provide more detail on this in a few minutes.
We continue to see net pipeline growth and our conversion rate and average selling price are meaningfully expanding.
In addition to growth acceleration, we generated a strong adjusted EBITDA results for the quarter of nearly $34 million.
We have previously announced building 4 growth levers this year to drive incremental growth next year. Those initiatives were bundling and packaging our solutions more effectively; building a new logo sales team; developing and signing strategic partnerships and monetizing our network. Those growth levers are converted to revenue much, much sooner than we had ever imagined. I'll give you an update on our effectiveness for these four areas. Bundling and packaging. Historically, for all contracts are every new one a year, the average subscription increase price and upsell has been 14%. On record company bookings for the first half of FY’22, that metric is 22% providing us confidence that our approach to packaging and bundling is driving the intended results.
New logos. At the beginning of this fiscal year, we announced the addition of a new logo sales team. That addition to our go to market engine is clearly kicking in much faster than we had expected. On record first app bookings, our new logo composition was 22% versus our historical average of 16%. Partnerships. We articulated our objective assigning 3 to 4 new strategic partnerships.
We have now signed 2 in the first half and have 3 in total. The partnership with Vizient is a great example and very strategic. Vizient is one of the largest EPOs for the healthcare provider industry, big hospital networks. And we've all have seen just how much supply chain improvement the U.S. healthcare system needs. And monetizing our network.
Our previously announced partnership with D&B is providing revenue sooner than expected.
We are still in very early innings in a multi-year growth plan. In summary, for these 4 growth levers, we had a plan, we thought it was realistic. It turned out to materialize much more quickly than we'd ever expected.
Moving to some highlights from our second quarter. We signed notable new existing client platform deals this quarter.
As a reminder, our platform relationship is where we have strategic alignment to roll out significant portions of the platform across a multi-year strategic plan. An existing global automotive client signed a 5-year extension more than doubling their $2 million annual subscription. A new logo in the transportation industry signed a $2.5 million annual subscription. A new logo in the contract manufacturing sector signed $1 million annual subscription. And a new logo win for nearly $1 million of annual subscription with the leading specialty apparel company.
Before I turn it over to Jarett, I'll reflect on our recent recognition by our industry and what we are doing to further build the machinery of our business. In recognition, we are the leader in multi-enterprise supply chain management, which is in fact what supply chains are. We're the number one provider with each analyst as report in this category, Gartner, IDC and Nucleus. Additions to our business. On September 1, we announced the closing of our largest and latest acquisition of BlueJay Solutions. Like the previous 11 combinations we have made in the past five years, we integrate quickly, having already effectively combined the business into one organization and selling platform.
The first release of the combined solutions will occur in February.
We are well on our way ahead of pace when compared to the previous 11 combinations. Jarett will speak in more detail about the integration shortly.
With the progress that E2open has made achieving its growth target and to capitalize on the momentum in the marketplace, we continue our investments in sales and marketing. Most recently hiring Chief Marketing Officer, Kari Janavitz. Kari Janavitz joins us from TE Connectivity and is known as an innovative and game changing CMO with a proven track record growing companies and brands. He’ll be a vital part of our leadership team as we continue to accelerate growth.
Lastly, as I mentioned in my opening, E2open released its inaugural environmental, social and governance report this week.
While our own company's environmental impact is small, we believe our software can have an enormous impact by reducing the environmental impact for our clients as they produce, transport and distribute their products.
You can find the report on our website at e2open.com. With that, I'll turn it over to Jarett to provide more detail regarding our financial results. Jarett?