Leading Supply Chain Finance Provider Announces Record First-Quarter Results

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PrimeRevenue continues fast-paced growth and reports new all-time company revenue records.

PrimeRevenue Inc., the leading SaaS platform for global Supply Chain Finance (SCF), today announced results for the first quarter of 2012 ended March 31, 2012. Among its accomplishments for the first quarter are record sales revenue for March and key additions to PrimeRevenue’s executive leadership including the appointment of Raghu Rajah as chief technology officer and Matt Doorley as general manager for the Americas region.

Additional notable achievements include:

  •      Rollout of the new OpenSCi™ vision of a supply chain interchange delivered globally on the Cloud.
  •      Eight new Buyer clients added to PrimeRevenue’s expanding customer base.
  •      65% growth in the number of Suppliers trading on the PrimeRevenue OpenSCi SCF platform.
  •      Expansion of operational presence in the Asia-Pacific region with the opening of PrimeRevenue’s Hong Kong office on March 1, 2012.
  •      Accelerated expansion in the European region marked by the appointment of Eric Riddle as vice president and general manager Europe.

“I am happy to announce that we are continuing our impressive growth and performance record,” said PJ Bain, PrimeRevenue CEO. “The increase in the number of Buyers and Suppliers on the PrimeRevenue OpenSCi™ platform validates our supply chain finance market leading position. We now have over 65 Buyers and more than 6,600 Suppliers on our OpenSCi exchange who derive great value from PrimeRevenue’s multi-bank model and award winning technology and services, with more joining every month. With another fiscal quarter of strong execution, we remain focused on serving the financial needs of our rapidly growing global client base,” added PJ Bain.

About PrimeRevenue,Inc.
For Global 2000 organizations who view their supply chains as a strategic asset and are seeking to increase supply chain efficiency, PrimeRevenue is the leading provider of multi-bank Supply Chain Finance (SCF) technology and services. The PrimeRevenue OpenSCi™ SCF platform and working capital advisory services provide these organizations with the control and flexibility required to drive superior SCF results, reducing cost and capital risk throughout their supply chains and forging stronger supplier relationships. Headquartered in Atlanta, Georgia, USA, PrimeRevenue also has offices in London, Paris, Frankfurt and Prague in Europe, as well as in Melbourne, Australia, and Hong Kong, Hong Kong SAR, and operates some of the largest SCF programs for customers around the globe. For more information, visit http://www.primerevenue.com

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Contact:
Oana Leventi-Perez
PrimeRevenue, Inc.
(o)+1-404-665-3768
(c)+1-678-368-2583
oleventiperez(at)primerevenue(dot)com

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