November 11, 2009 13:00 ET

Leading Analyst Firm Recognizes as an Innovative Company to Watch Delivers IT Service Management Power Through Simplicity

SAN DIEGO, CA--(Marketwire - November 11, 2009) -, the pioneer of modern SaaS for IT service management, today announced it has been recognized by IDC, a leading provider of global IT research and advice, as an innovative application software company under $100 million to watch.

According to Michael Fauscette, IDC Group Vice President, Software Business Solutions, "The software applications industry is in a change cycle fueled by economic conditions, industry consolidation, and three major industry trends... acceleration of adoption of software as a service (SaaS), business process outsourcing (BPO), and open source over traditional on-premise software; new business models for software use by service providers (software within a service); Web 2.0-like functionality moving into the enterprise."

IDC's "Innovative Companies to Watch" reports(1) are a qualitative evaluation of a set of vendors within a specific market. They are not a stack ranking nor do they represent an exhaustive evaluation of all companies in a segment or a comparative ranking of the companies in the report. has created a completely new IT service management software experience by delivering a powerful yet simple enterprise IT service desk application that was built on the Web, for the Web and delivered via SaaS. delivers three major new product releases per year to hundreds of customers through an automated upgrade process. With SaaS, shifts the onus of maintaining, upgrading and running the application from the customer to the vendor. This shift in responsibility changes the ITSM software industry by allowing customers to focus on delivering quality IT service through the adoption of IT process best practices such as those outlined in the IT Infrastructure Library (ITIL). developers take inspiration from consumer Web technologies like, Yahoo! and Google and apply the same usability principles to a modern enterprise IT service desk application. Recent releases have provided customers with functionality like mobile device browser access, Google-like global search, myYahoo!-like drag-and-drop UI customization, and online shopping for enterprise IT. customers utilize the application to automate the management of service request, incident, problem, change, and knowledge management. is also used for IT project management, service catalog, discovery and application dependency mapping, CMDB, IT asset management and as a custom application development platform. closed FY09 on June 30, 2009 with more than $28 million in recurring revenue. expects to exceed $50 million in recurring revenue at the end of FY10.

About enterprise IT service management software 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. The company is based in Solana Beach, Calif. and has more than 320 enterprise customers worldwide. For more information, please visit

(1) IDC, "Innovative Application Software Companies Under $100 Million to Watch," Doc #220505, Oct. 2009.

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