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

16 Aug, 2012


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

FinancialForce.com, the cloud applications company, today announced continued strong revenue growth in the first half of 2012. FinancialForce.com's monthly revenue run rate in June 2012 grew more than 100% compared to June 2011. FinancialForce.com 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, FinancialForce.com 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, FinancialForce.com 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 FinancialForce.com board as the first independent director.

"The shift to the Cloud is growing across departments, industries and company sizes, and FinancialForce.com has carved out an important role in the back office," said Jeremy Roche, CEO, FinancialForce.com. "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 FinancialForce.com team."

Within the last year, FinancialForce.com 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.

To learn more about FinancialForce.com's open positions, visit FinancialForce.com careers.

About FinancialForce.com
FinancialForce.com is the cloud applications company. We focus 100% on building business applications for Force.com, the world's leading cloud computing platform from salesforce.com. Our applications include Accounting, Billing, Professional Services Automation (PSA) and Services Resource Planning (SRP). We serve fast-growing organizations and dynamic enterprises, helping them to align Finance, Sales and Service in a way that enables profitable growth. We are backed by two of the biggest and best players in the business, UNIT4 and salesforce.com. To learn more please follow us on Twitter @FinancialForce, visit out Facebook page http://www.facebook.com/FinancialForce or visit www.FinancialForce.com.

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