June 22, 2010 14:23 ET Named a Finalist for the 2010 Red Herring 100 North America Award

SAN DIEGO, CA--(Marketwire - June 22, 2010) -  Red Herring 100 North America -, the creators of modern software as a service (SaaS) for IT service management, today announced it has been selected as a finalist for the Red Herring North America 100 award honoring the year's most promising North American private technology ventures.

The Red Herring editorial team selected from a pool of hundreds. The nominees are evaluated on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.

The Red Herring assessment of vendor potential is complemented by a review of the actual track record and standing of a company, allowing Red Herring to see past the buzz.

"This year was especially difficult," said Alex Vieux, publisher and CEO of Red Herring. "Despite the global economic situation, there were many great companies producing really innovative and amazing products that we had a difficult time narrowing the pool and selecting the finalists. shows great promise therefore deserves to be among the finalists. Now we're faced with the difficult task of selecting the Top 100 winners of Red Herring North America award. We know that this year's crop will grow into some amazing companies that are sure to go far."

Finalists for the 2010 edition of the Red Herring 100 North America award are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health.

Fred Luddy, founder and CEO, will present the winning business strategy at the Red Herring North America Conference in San Diego on Wednesday, June 23, 2010 at 4:45 pm. The Top 100 winners will be announced at a special awards ceremony on June 24 at the event.

The enterprise IT service management platform combines ITIL v3 process support and SaaS delivery to provide flexible, intuitive and self-managing applications. Founded in 2004, uses a new business model and modern technologies to disrupt the status quo. With revenue more than doubling each year, is the fastest-growing IT management software company. For more information, please visit or

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