SilkRoad technology Announces Q1 Results For 2011

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First Quarter Highlights Include Global Expansion, Award Recognition, And Strategic Partnership

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“Our global expansion, the partnership with ej4 and the continued client growth helped us kick-off 2011 with a bang,” said Andrew J. “Flip” Filipowski, Executive Chairman and CEO of SilkRoad technology.

SilkRoad technology, inc., a leading provider of talent management solutions, announced today the first quarter of 2011 marked another exceptional quarter of growth for the company. Highlights from the quarter include continued global expansion, partnering with training video experts ej4, and award recognition for its core HR product, HeartBeat.

SilkRoad added several new international customers this quarter, along with a record number of new customers purchasing multiple Life Suite solutions. New customers include: Clondalkin Group; The Crosby Cooperative; Discount Car & Truck Rentals; Lane Construction Corporation; Levin Furniture Co.; MYCOM North America, Inc.; New Dream Network Llc.; and Polk State College.

The company also continued as the leading provider of talent management solutions to the healthcare market and signed several new clients in the space including: Bethesda Healthcare Systems; Harden Healthcare; Liberty Dialysis.; Memorial Health System; Nemours Foundation; and Tenet Healthcare Corporation.

This quarter SilkRoad expanded its global operations with a new corporate office in France. The expansion comes in the wake of securing a $40 million dollar investment round of capital from investors Intel Capital, Tenaya Capital, West Summit, SunBridge, Foundation Capital, Azure Capital and SilkRoad Equity to build out operations that capitalize on the increasing global market demand for talent management solutions.

Also in Q1, SilkRoad was named the winner of a celebrated Stevie® Award. HeartBeat, SilkRoad’s core HR solution, was selected as the winner of the “Relationship Management Solution” category in the fifth annual Stevie Awards for Sales & Customer Service. The Stevie Awards organize several of the world’s leading business awards shows including the prestigious American Business Awards. More than 800 entries from organizations of all sizes and in virtually every industry were submitted to this year’s competition, an increase of more than 60 percent over 2010.

Finally, SilkRoad also partnered with training video producer ej4. Through seamless integration between ej4 and SilkRoad’s learning management system (LMS), GreenLight™, customers can access ej4’s organizational training videos, create custom training videos, and benefit from ej4’s Maxecution™ videos, a specialized type of “task-based” video, where training is broken into small, concentrated segments that teach repeatable skills and behaviors. With the Maxecution Software Training, GreenLight customers have fully searchable, reportable, and assignable training resources covering a full breadth of career development and employee productivity. With this partnership, GreenLight customers can reduce overall training costs through purchasing the exact support each company needs to enhance employee productivity and career development.

“Our global expansion, the partnership with ej4 and the continued client growth helped us kick-off 2011 with a bang,” said Andrew J. “Flip” Filipowski, Executive Chairman and CEO of SilkRoad technology. “As always we are humbled and honored by clients that opted to purchase multiple solutions, and by the continued recognition we receive for our industry-leading products. I’m proud of our hardworking team. They always go above and beyond to bring our clients the best customer service and software.”

About SilkRoad technology, inc.
SilkRoad technology, inc. provides software-as-a-service (SaaS) solutions that significantly improve the talent within its more than 2000 customers across the globe. Through SilkRoad’s Life Suite™, an integrated talent management solution, companies are able to hire better employees, identify high and low performers, drive a pay-for-performance culture and improve employee tenure. The SilkRoad Life Suite™ solution set includes: OpenHire™, for recruiting management; RedCarpet™ for employee onboarding and life events; WingSpan™ for flexible employee performance management; GreenLight™ for learning management; Eprise™ for employee intranets and content management; and HeartBeat™ for core HR. SilkRoad is headquartered in Chicago, IL with offices in Winston-Salem, NC; Bedford, MA; Red Bank, NJ; Jacksonville, FL; San Francisco, CA; Edmonton, Canada; Singapore; Sydney, Australia; Auckland, New Zealand; Hamburg, Germany; Paris, France; Hong Kong; and Tokyo, Japan. More information is available at http://www.silkroad.com or by phone: U.S. toll free at 866-329-3363 or internationally at +1-336-201-5100. Follow SilkRoad technology on Twitter at http://www.twitter.com/SilkRoadTweets.

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Sabrina Pietryga
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