Confirmit Announces Record Quarter for Multi-Year Customer Contracts

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Six figure contracts drive outstanding start to 2010...

Existing customers have significantly increased their investment in Confirmit Horizons as a direct result of the success and growth driven by the platform.

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.”

About Confirmit:
Confirmit is the world’s leading SaaS vendor for Customer Feedback, Employee Feedback, and Market Research applications. The company has more than 240 employees and offices in Oslo (headquarters), Guildford, London, Moscow, New York, San Francisco, and Yaroslavl. Confirmit's software is also distributed through partner resellers in Barcelona, Kuwait City, Madrid, Milan, Pattaya, Sydney, and Tokyo.

Confirmit targets Global 5000 companies and Market Research agencies worldwide with a wide range of software products for feedback / data collection, panel management, data processing, analysis, and reporting. Customers include British Airways, Dow Chemical, Farmers Insurance, GlaxoSmithKline, Halifax Bank of Scotland, HSBC, Intrawest, Ipsos, Nielsen, The NPD Group, Safeco Insurance, Statoil, Symantec, Virgin Media, and Wells Fargo. Visit http://www.confirmit.com for more information.

Press Contacts
Gary Schwartz, SVP Marketing: +1 212 660 1816
Henning Hansen, President and CEO, +47 21 502 500
EMEA PR Contacts, Indigo River: Andrea Burton +44 (0)1985 850320 / Melanie Oxford +44 (0)7515 632065
US PR Contacts, Hart Boillot: Perrin McCormick / Jennifer Comeau +1 781 893 0053

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Gary Schwartz
Confirmit
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