Posts Another Record Quarter of ITSM SaaS Customer Adoption

SAN DIEGO – April 27, 2010 ‑ Service‑, the creators of modern IT service management, today announced record customer and revenue growth during the three months ended March 31, 2010 to beat the annual revenue plan for fiscal year 2010 after only three quarters of business. Service‑ recurring revenue increased by 154 percent from March 31, 2009 to March 31, 2010.

Dramatic Service‑ revenue growth was driven by demand for modern IT service management, software‑as‑a‑service (SaaS) and a practical approach to enterprise IT service automation.

Fred Luddy, Service‑ CEO, said, "In a historically difficult quarter, with most other IT service management tool vendors scrambling to mimic our SaaS business and application, Service‑ continues to provide the enterprise IT market with the only modern, pragmatic and baggage‑free ITSM tool. Service‑ is thriving and our future prospects are incredible."

Other Service‑ company highlights during the three months ended March 31, 2010, include:

  • Added 49 new customers with a dozen "Fortune 1000" accounts
  • Ahead of plan to more than double recurring revenue year over year
  • Cash‑flow positive for three years
  • More than 100 percent subscription renewal rate as existing customers add significant capacity
  • The Wall Street Journal named Service‑ to its Next Big Thing list of The Top 50 Venture Capital‑Backed Firms.
  • AlwaysOn named Service‑ to the OnDemand Top 100 after being selected from hundreds of other technology companies.
  • Service‑ named finalist for the 2010 Pink Elephant Innovation of the Year Award
  • Australian data center now online

Now 400 customers and 100,000 IT professionals use Service‑ to help provide better IT service to about five million end users around the world. Customers who selected Service‑ for modern service management in the last three months include Ascend Performance Materials, Auckland University of Technology, Autodesk, BioReliance, Boots, Central DuPage Hospital, CHRISTUS Health, Clear Wireless, Consumer Credit Counseling Service, CorpTech, Elster Holdings, FMC Corporation, Gildan Activewear, Mercury General Insurance, Northeastern University, North Carolina Department of Transportation, Oil Search, Orbitz, Petsmart, Queensland Transport, Reliance Steel & Aluminum, Sally Beauty Supply, San Antonio Community Hospital, Sony Pictures Entertainment, Toyota Motor Corporation Australia, and Varian Medical Systems.

This week in Canada, please join Service‑ customers, employees and partners at Service‑ ITSM.NOW  executive briefings in Toronto and Calgary.

About Service‑

Service‑ enterprise IT service management combines ITIL v3 process support, modern SaaS delivery, and modern Web functionality to provide a flexible, intuitive and self‑managing application. Service‑ was founded by Fred Luddy, former CTO of Peregrine Systems and Remedy. For more information, please visit http://www.service‑ or http://blog.service‑