Bullhorn Continues Stellar Growth in the Staffing and Recruiting Software Market During Q2 2006
Bullhorn exceeds growth expectations for 16th straight quarter.
Boston, MA (PRWEB) July 26, 2006 -- Bullhorn, the global leader in On Demand, front office staffing and recruiting software, today announced continued stellar growth in the staffing and recruiting software market for the second quarter of 2006, which ended on June 30, 2006. Compared to Q2 2005, Bullhorn’s 103 percent increase in new customer sales aided an overall 55 percent revenue increase, which was strong across all market segments from emerging firms to the enterprise. Growth from existing customers was also solid with an 11 percent increase that demonstrates the strength of Bullhorn’s software as a service business model. Bullhorn’s software as a service business model consists of monthly recurring revenue from new and existing customers and one-time professional services fees.
Bullhorn added 672 “live” users during the quarter, a 76 percent increase from the same period last year. “Live” users are those users that began using Bullhorn for the first time during the quarter. To service its growing client-base, Bullhorn increased its staff in customer support, professional services, development and sales by 108 percent during the last year.
“Our customers, and the market, are increasingly recognizing that an On Demand, integrated front office solution accelerates placements while helping them win new business opportunities,” said Arthur Papas, CEO and co-founder of Bullhorn. “We are now enhancing the value of Bullhorn by innovating in sourcing, through our announced Dragnet and Jobcast solutions, that promises to extend the On Demand, integrated front office into the area of addressing the growing candidate shortage.”
Additional highlights for the second quarter include:
| | - Bullhorn is rapidly closing in on 500 customers and 7,000 users worldwide.
- Revenues and user seats from enterprise customers increased by 137 percent during Q2 2006 versus the same period last year.
- Revenues and user seats from mid-sized customers increased by 50 percent during Q2 2006 versus the same period last year.
- Revenues and user seats from emerging customers increased by 117 percent during Q2 2006 versus the same period last year.
- Bullhorn made several, significant product-related announcements:
- Dragnet and Jobcast, designed to significantly increase the effectiveness of sourcing candidates by staffing and recruiting professionals, will be available during Q3 2006.
- Enhancements to Bullhorn in the area of client and candidate relationship management, and a multitude of productivity enhancements across the platform, were made available earlier in the quarter.
- Bullhorn also announced sourcing-related partnerships with CareerBuilder.com and Monster.
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| | - Bullhorn continued to expand its service delivery through a significant increase in its server capacity and the implementation of a storage area network.
- Bullhorn was named one of the Best Places to Work by the Boston Business Journal.
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“During the second quarter, Bullhorn executed on all fronts to ensure our customers received outstanding service, enhancements to Bullhorn and new areas of innovation designed to help them grow their business,” said Barry Hinckley, president and co-founder of Bullhorn. “Early response from our customers indicates that the availability of Dragnet and Jobcast in the third quarter will provide them with a tremendous advantage to change the dynamics of sourcing.”
About Bullhorn, Inc.
Bullhorn is the global leader in On Demand, front office staffing and recruiting software, providing the only completely integrated front office solution for staffing and recruiting firms. Bullhorn enables its customers to synchronize sales and recruiting to generate, source and fill job orders in real-time, at anytime and from anyplace, at the highest rates in the industry. Delivered through software as a service, Bullhorn continually meets the evolving business needs of its customers. More than 400 firms and 6,000 users worldwide, including two of the top 10 U.S. staffing firms, partner with Bullhorn to meet the employment demands of the global economy. Privately owned, Bullhorn is backed by GE Asset Management and others. For more information, visit www.bullhorn.com or call +1(866)538-7795
Media inquiries please contact:
Joe Cordo
Vice President of Marketing
(617) 478-9142
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