February 11, 2010 08:30 ET

Demand for Modern IT Service Management Automation Drives Record Growth for Sets a New Industry Standard for Enterprise ITSM Applications

SAN DIEGO, CA--(Marketwire - February 11, 2010) -, the creators of modern IT service management, today announced record customer and revenue growth during the six months ended December 31, 2009. recurring revenue increased by approximately 58 percent from June 30, 2009 to December 31, 2009 and increased approximately 136 percent from December 31, 2008 to December 31, 2009. Dramatic revenue growth for was driven by demand for modern IT service management, software-as-a-service (SaaS) and a common sense approach to enterprise IT service automation.

Fred Luddy, CEO, said, "We set out to provide the enterprise IT market with a simple yet powerful IT service management application. This approach is validated every day by hundreds of IT organizations that choose over old software. We will continue to provide a completely new ITSM experience through a passion for excellent service, powerful simplicity, advanced functionality and easy delivery. is thriving and our future prospects are remarkable.

"Meanwhile, our legacy competitors recently acknowledged the avalanche of momentum for this new standard of service management application. They will further validate as the leader in modern IT service management as they attempt to replicate the benefits of true SaaS." company highlights during the six months ended December 31, 2009, include:

  • Added 78 new customers including four "Fortune 100" accounts
  • Ahead of plan to double recurring revenue year over year
  • Cash-flow positive for almost three years
  • More than 100 percent subscription renewal rate as customers add capacity
  • Named the TechTarget Datacenter Product of the Year for 2009 in the category of enterprise systems management
  • Named an IDC Innovative Company to Watch
  • Added EMEA sales and operations resources to meet significant demand

Now more than 365 customers and 94,000 IT professionals use to help provide better IT service to almost five million end users around the world. Customers who selected for modern service management in the last six months include Ascension Health, Associated Wholesale Grocers, Balfour Beatty, British Council, Cameron International, Canwest, Career Education Corp., Centrica, Chiquita Brands, CITEC, Colorado Springs Utilities, Emory University, First American, Foodstuffs Limited, Getronics, Great American Financial Resources, Henry Ford Health System, International Securities Exchange, Intuit, JDS Uniphase, Jefferson County Colorado, Key Energy Services, KGB, Kimberly-Clark, Lennox International, Logicalis, Mediterranean Shipping Company, Morrison & Foerster, Motricity, National Australia Bank, NetApp, Ohio State University, Patni Computer Systems, Pepsi Americas, Perot Systems, ProBuild Holdings, PSEG, Queensland Department of Public Works, Royal Bank of Scotland, Shaw Communications, Smith International, Temple-Inland, ThyssenKrupp Steel USA, UCLA, Underwriters Laboratories, and the University of Birmingham.

The modern approach to ITSM is drastically different from legacy alternatives. Please join customers, employees and partners at ITSM.NOW executive briefings, the Pink Elephant IT Service Management Conference, or Knowledge10 to learn more. 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. was founded by Fred Luddy, former CTO of Peregrine Systems and Remedy. For more information, please visit

Contact Information