KnowledgeTree Announce Record Revenues for Q4 2008
Results Driven by Major Customer Wins and Significant Community Momentum.
San Francisco, CA (PRWEB) January 29, 2009 -- KnowledgeTree, the leading provider of commercial open source document management software for small to medium-sized businesses, today announced its Q4 2008 highlights, including a 91% increase in revenue on Q4 2007, 619,000 open source software downloads to date, and a number of major customer acquisitions.
"Our fourth quarter 2008 revenues were KnowledgeTree's highest to date," says Daniel Chalef, CEO of KnowledgeTree. "Despite the tumultuous economic climate, and IT budget cuts, businesses are recognizing the value that KnowledgeTree offers, as well as the role that document management software plays in managing mission-critical, document-intensive and compliance-sensitive business processes."
In Q4 2008, UMB Bank, a major US securities exchange, Israel Aerospace Industries and The Mind Research Network joined growing list of companies who have chosen KnowledgeTree to solve their document management challenges. The company also reported customer renewal rates in excess of 85% in the last quarter.
"Customers recognize our ongoing commitment to support excellence and product quality", says John Thorne, COO of KnowledgeTree. "KnowledgeTree's Intel® Certification, the success of our regular customer training program, and our high customer satisfaction levels support this commitment".
Other significant Q4 milestones include the registration of 84 community-run projects to date, a SugarCRM SugarForge Project of the Month award for a KnowledgeTree community project, and the upgrading of the KnowledgeTree Software Forge and Community Forums.
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