Doubles in First Half of 2012 as Demand for Cloud Accounting, PSA and Media Apps Increases

Continuing the most dynamic period of growth in the company’s history. Recruiting internationally to meet rapidly growing demand. Relocated headquarters to larger premises in San Francisco.

San Francisco, CA, August 17, 2012 --(, the cloud applications company, today announced continued strong revenue growth in the first half of 2012.’s monthly revenue run rate in June 2012 grew more than 100% compared to June 2011. is increasing customer subscriptions strongly, and is seeing rapid growth in both the size of customers it is signing and in the average deal size, as reported by majority investor UNIT4 today.

The company has grown its headcount by more than 40% over last year and is looking to grow it by more than 50% in 2012. As demand for cloud applications continues to increase, is recruiting rapidly both in North America and Europe to expand its development, sales and marketing capacity and cope with growing demand.

Reflecting this growth, recently relocated its U.S. headquarters from San Mateo, Calif. to San Francisco, tripling its office space. It also appointed Steve Cakebread, EVP and CFO of Pandora, to the board as the first independent director.

“The shift to the Cloud is growing across departments, industries and company sizes, and has carved out an important role in the back office,” said Jeremy Roche, CEO, “We have aggressive goals to address the opportunities and needs of the market through the end of this year and into 2013. This is an exciting time to be part of the team.”

Within the last year, has received multiple industry awards, including being a two-time CODiE finalist, CRM Watchlist BroadBrush winner, THINK Strategies BoSS Showplace award, named a Red Herring 100 North America and Red Herring Global company, voted Best Cloud Offering in the EuroCloud UK awards, and shortlisted for best software package of the year in the British Accountancy awards.

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Val Stepanova
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