NEOGOV Announces Record-Setting Annual Results; Growth Solidly Surpasses Expectations

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NEOGOV, the market leader in on-demand human capital management for the public sector, today announced its most successful year to date. Despite harsh economic conditions, the company achieved record growth in 2009, growing its client base by 30 percent over the previous year.

NEOGOV, the market leader in on-demand human capital management for the public sector, today announced its most successful year to date. Despite harsh economic conditions, the company achieved record growth in 2009 and forecasts continued strong performance through 2010. Today, the company has the largest SaaS subscriber base in the public sector with 1.8 million users and over 600 customers. Overall, the company’s client base grew by 30 percent in 2009 over the previous year.

NEOGOV, which recently celebrated its 10-year anniversary, is among the fastest-growing companies in the U.S. The Company resides on distinguished lists such as Inc. magazine’s "Inc. 500," which highlighted NEOGOV for 388 percent revenue growth from 2005 to 2008. Recently, NEOGOV was also named among the top 15 Fastest Growing Private Companies in the Southern California region by Los Angeles Business Journal.

“Over the past decade, NEOGOV has emerged as the premier provider of public sector on-demand human capital management technology,” said Damir Davidovic, CEO of NEOGOV. “2009 was a breakthrough year for our company, marked by a series of landmark partnerships and exceptional growth in spite of the adverse economic climate. In the coming year, we will continue to invest in innovation and ensure our customers benefit from the product leadership they have come to know and expect.”

Additional highlights include:

Client Wins: NEOGOV signed a wide variety of public sector agencies, such as:

Federal:                 Administrative Office of the US Courts
States:                     State of Oregon, State of Washington, State of Nebraska, Commonwealth of Pennsylvania, State of Colorado
Cities/Counties:     City of Seattle, City of San Diego, Salt Lake County, City of St. Paul
Higher Education: Colorado State University, Pueblo, Waukesha County Technical College, Long Beach City College
School Districts:     Seattle Public Schools
Other Agencies:     Housing Authority of Baltimore, Sea-Tac Airport, Massachusetts Port Authority, East Bay Municipal Utility District, Santa Clara Water District

Product Innovation: The Company launched major functionality enhancements across its software suite to provide greater usability and enhanced platform depth. This includes a more advanced version of the NEOGOV Insight Recruiting and Applicant Tracking System and Test Management application. The Company also advanced its product roadmap on with the addition of Performance Evaluations (PE), a robust application designed to enable customers to align employee performance and development plans with strategic business needs.

Analyst Recognition: For the 2nd consecutive year, NEOGOV was recognized by Gartner Inc. in the "Magic Quadrant for E-Recruitment Software" report. The Magic Quadrant positions vendors according to “Ability to Execute” and “Completeness of Vision.” This year, Gartner analysts advanced NEOGOV to the "Visionaries Quadrant" on the strength of its market-leading product and service offerings. In particular, Gartner rated NEOGOV implementation and post-implementation support as "best-in-class."

Client Success: In Q4, the company formally launched NEOGOV Community, an innovative approach to support. Premised on the concept that partnerships beget strength, knowledge and efficiency and innovation, Community provides a unique, exclusive space for customers, over 600 peer agencies, to interact, exchange ideas, ask and answer questions, engage training and share best practices. In total, Community tools enable its public sector customer base to benefit from one another's commitment to optimizing the use of NEOGOV software.

About NEOGOV
NEOGOV is the market and technology leader in on-demand human capital management applications for the public sector. NEOGOV's suite of Software-as-a-Service (SaaS) HR applications allows government agencies to automate the entire hiring and workforce management lifecycle, from recruiting and testing through performance management and on-boarding. Customers can also take advantage of NEOGOV's top-notch customer service, training, and best practice offerings. NEOGOV customers are counted among the most prominent and progressive public sector agencies, including 14 state governments and 35 of the top 100 cities and counties. To date, more than 600 agencies, states, cities and counties, colleges and universities, k-12 school districts, airports, courts, public safety, and transportation authorities, across the United States have adopted NEOGOV’s secure, scalable on-demand infrastructure. For more information, please visit http://www.neogov.com.

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Dara Hysmith
NEOGOV
(310) 426-6304 ext. 114
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