lobal leader of technology for Market Research and Feedback Management Increases Multi-year Customer Contracts, Bolsters R&D and Sets Bold Course for 2011
New York, NY and Oslo, Norway: 28 February 2011: Confirmit, the leading global software provider for Customer Feedback, Employee Feedback and Market Research, today announced record global revenue in 2010. Fueled by increasing demand for software solutions that deliver fast, flexible and actionable employee and customer feedback, Confirmit experienced unprecedented demand in 2010 from new and existing customers.
Last year Confirmit achieved its eighth consecutive profitable year, with positive cash flow and zero debt.
Key 2010 results include:
Strong double digit organic growth with Q4 revenue of US$16 million
During Q4, 36% growth of the Feedback Management business and a near 20% increase in the Market Research business
A Q4 US$2 million annual software license agreement with a Fortune 500 company for its Feedback programmes
76% increase in multi-year customer agreements
66% growth of seven-figure (US$) customer commitments and 31% growth of average revenue for top 10 accounts
Recognition by Deloitte Technology on the 2010 Fast 500 EMEA list as one of the fastest-growing companies (with a growth of 583%)
Launch of Confirmit Horizons Version 15, featuring Confirmit Flex with ground-breaking customisation features
A total of 170 million surveys completed on the Confirmit Horizons platform, with 2 billion questionnaire pages delivered
Continued customer acquisition across numerous markets with a client roster that includes Amica, Authentic Response, Bank of America, Cisco Webex, Farmers Insurance, Fidelity, Helse Sør Øst , Hoffman La-Roche, HSBC, iPanel, NCSC, Nielsen, Symantec, University of Massachusetts Medical School , Shopzilla, WorldOne and Yahoo
Sustained performance against the 99.7% On-Demand uptime guarantee (sixth consecutive year)
Continued investment in the industry's largest R&D team
"Our customers are the driving force behind the solutions Confirmit brings to market," said Henning Hansen, President and CEO, Confirmit. "As we set our sights on raising the bar in feedback technology innovation, it is critical that we listen to the needs of the marketplace and quickly deliver solutions that help our customers achieve their goals.
Confirmit LogoThe dramatic increase in Confirmit multi-year contracts in 2010 shows us that our customers have tremendous faith in our ability and view us as a long-term technology partner. We take that responsibility very seriously and look forward to exceeding expectations in 2011 and beyond."
According to Bruce Temkin, Managing Partner of Temkin Group: "Our research shows that companies are increasing their focus on Voice of the Customer programmes. As these efforts grow beyond simple surveys and reports, they need a platform for collecting, analysing, and acting upon the increasing pace of customer feedback."
Hansen adds: "The findings of the Temkin Group reinforce the market insight we have collected from our customers. As the need for comprehensive feedback and research programmes grows, more businesses are turning to Confirmit for business strategies that will meet these needs and give them a competitive edge."
From May 9th to 11th, the Confirmit Community Conference, ‘Beyond the Horizon,' will explore the strategies and technologies that will drive feedback management and Market Research over the coming months and years. Register here
www.confirmit-community.com to attend this industry-shaping event in Las Vegas.
