…Six figure contracts drive outstanding start to 2010…
New York, NY and Oslo, Norway, April 29th 2010 - Confirmit, the leading global software vendor for Customer Feedback, Employee Feedback and Market Research announces a stellar start to 2010, with more than 30 six-figure USD contracts signed in the first quarter. This included two multi-year, seven-figure USD renewals. In the first 3 months of the year, the company saw a record number of these multi-year agreements, helping to take the business to its 7th consecutive year of profitability.
“I’m delighted with the start we’ve made to 2010. The large number of customers signing multi-year contracts demonstrates the confidence they have in the platform and in their relationship with Confirmit as a business,” comments Henning Hansen, President and CEO, Confirmit. “Existing customers have significantly increased their investment in Confirmit Horizons as a direct result of the success and growth driven by the platform.”
Highlights of the first quarter include:
- Double-digit revenue growth, enabling the company to continue to invest in its industry-leading platform.
- The launch in March of Confirmit Horizons Version 15, the latest release of the platform which included over 1000 product enhancements to create greater flexibility and usability.
- An increase in the number of surveys completed on the SaaS platform of 28 percent compared to the same quarter in 2009, while exceeding Confirmit’s Uptime Service Level Agreement of 99.7%.
- Three industry awards, including CRM Product of the Year from Customer Interaction Solutions magazine. Confirmit customers Farmers Insurance and Nationwide Autocentres were recognized for their Voice of the Customer programs implemented with Confirmit.
Jim Davies, Research Director at Gartner stated: “At Gartner, we’re predicting double-digit growth in the feedback management industry over the next 2 years, which greatly exceeds the growth we anticipate in the CRM market overall. This is being driven by increased demand from businesses who understand that the customer experience is a key competitive battleground.”
Hansen concludes: “We believe Gartner’s findings clearly support what we’re seeing in the corporate marketplace. In addition, our Market Research customers are embracing the new functionality in Confirmit Horizons Version 15 and using it to drive growth and meet the ever-changing demands of their customers. Our continued profitability combined with strong cash flow and strong cash balance positions us perfectly for a record-breaking year of organic growth and M&A activity.”
