SOURCE: Cast Iron

June 23, 2008 08:00 ET

Cast Iron Continues Record Growth With Best Q2 in Company History

SaaS Integration Leader Builds on Success With Accelerated Growth in New Customers Across Industries, Total Revenue Bookings, and International Expansion

MOUNTAIN VIEW, CA--(Marketwire - June 23, 2008) - Cast Iron Systems, the #1 SaaS integration provider, today announced that its second fiscal quarter, which ended on May 31, was the largest Q2 in the company's history. The new fiscal year began with a record-breaking first quarter, following FY2007, in which Cast Iron reported 192 percent growth in contract value and more than doubled its installed base over the previous year. Even in the face of a weak economy, the company's momentum is accelerating in the United States and internationally, with substantial growth in the total value of revenue bookings and new customers across a broad range of industries.

Driving Cast Iron's success is an ever-increasing, essential need to integrate SaaS applications with the 95 percent of applications and data which reside on-premise. The company's growth demonstrates the continued strength of SaaS, which is expanding beyond Customer Relationship Management (CRM) to include Supply Chain Management (SCM), ERP, B2B, and HR, among others. The further paradigm shift toward cloud computing combined with the company's expertise and leadership in SaaS integration will fuel Cast Iron's future growth.

"Cast Iron's approach to SaaS integration is a key contributor to industry's progressive movement toward cloud computing," said Ken Comée, CEO at Cast Iron Systems. "Merrill Lynch predicts that this will be a $160-billion market, and we are well-positioned to capitalize on the opportunity. As the pace of this change increases, Cast Iron will introduce new products and programs to expedite the successful adoption of SaaS solutions and streamline the transformation from traditional to cloud computing."

"Using the Cast Iron integration solution, we will be able to integrate customers' on-site applications with our revolutionary on-demand SCM solution quickly and cost effectively," said Glenn Jones, vice president of customer solutions at Mitrix. "Bringing customers on board more efficiently will not only increase their satisfaction, but also accelerate our sales cycle, enabling Mitrix to attain rapid growth over the next two years."

In addition to Mitrix, new customers using the Cast Iron SaaS integration solution in Q2 include Cardiva Medical, a privately held medical device company that is integrating salesforce.com and Expandable ERP; CEA Cultural Experiences Abroad, an international education provider for U.S. and Canadian college students, integrating SaaS and SQL Server Databases; CGI Group, a leading provider of IT technology and business process services that is integrating web-based compliance management software with various other applications used by its clients; Intellitax Software (formerly Orrtax Software Solutions) that is integrating SaaS with the Axapta sales order management system; I.T.Xchange, the world's largest secondary market computer distributor, integrating SaaS with Epicor enterprise software solutions; Kaplan Financial, integrating its SaaS educational and compliance solutions with clients' applications; Multiquip, a world leader in construction equipment that is integrating SAP, MS SQL Server, and XML; the U.S. Green Building Council, integrating MS-SQL Server and SAP; and the USC Marshall School of Business that is integrating SaaS with iModules web services; among many other new Q2 customers.

"In addition to continued rapid growth in our U.S. customer base and contract value, we are enjoying a much higher level of activity internationally," continued Comée. "We now have senior sales management in place in Europe, working with our partners to accelerate our global expansion. Overall, our partners were involved in more than 100 opportunities in Q2, and we have hundreds of partner-sourced opportunities in the pipeline. There is no doubt that demand for Cast Iron's SaaS integration solutions and experience continues to grow in step with the spread of SaaS and the movement towards cloud computing worldwide."

About Cast Iron Systems

Founded in 2001, Cast Iron Systems is the fastest growing SaaS integration vendor. The company's flagship iA3000 integration solution appliance garnered Network Computing's Product of the Year for two consecutive years. Cast Iron has hundreds of customers across all industries and around the world, including Allianz, British American Tobacco (BAT), AmerisourceBergen, Emerson, IBA Molecular, Krueger International, Peet's Coffee & Tea, PGP Corporation, Salesforce.com, The Sports Authority, and Tesla Motors, among many others. Backed by Sequoia Capital, Norwest Venture Partners, and Lehman Brothers, Cast Iron is privately held and led by experienced technology executives from Informatica, PeopleSoft, Siebel, Oracle, Vitria, and webMethods. For more information on Cast Iron Systems, please visit www.castiron.com.

Cast Iron, the Cast Iron logo, Cast Iron iA3000 are trademarks of Cast Iron Systems in the United States and worldwide. All rights reserved.