SOURCE: Gainsight

Gainsight

February 05, 2015 11:13 ET

Gainsight Grows 357% as Customer Success Technology Goes Mainstream

Dozens of Leading Enterprises Choose Gainsight Platform to Drive Retention and Upsell

REDWOOD CITY, CA--(Marketwired - February 05, 2015) - Gainsight, the Customer Success company, today announced several marquis enterprise customers, which have contributed to the company's 357% year-over-year growth. This rapid expansion of the company's revenues -- 4.5x growth over Q4 2013 -- has further accelerated Gainsight's position as the industry leader in the Customer Success software category. New customers include AppNeta, Box, Glassdoor, LiveIntent, MobileIron, OpenDNS, and Return Path. The investment made by this esteemed customer line-up has proven that Customer Success -- the proactive strategy to drive product adoption and customer health that ensures renewals, upsells, and cross-sell -- is a key growth priority for enterprise companies in 2015, and Gainsight is the partner of choice for influencing that growth.

The Case for Customer Success
Gainsight's customers have validated the value they receive from the platform by increasing their technology investment, renewing contracts, and licensing more products. To underscore this point, Gainsight also announced a 134% net renewal rate in FY 2014, delivering on its promise of true thought leadership in Customer Success.

"For subscription-based companies, the duration of the customer relationship has an economic impact on the company's financial health, as the value of the purchase is realized over time," writes Kate Leggett, VP & Principal Analyst at Forrester Research, in the October 2014 report, Market Overview: Customer Success Solutions. "Companies must actively manage their customers to ensure their success in order to decrease churn and increase revenue and advocacy…. Customer success management is an emerging organizational role for companies that offer products and services as subscriptions."

"We are thrilled to welcome such an inspiring roster of customers into the Gainsight family," said Nick Mehta, Chief Executive Officer at Gainsight. "The sales traction is important validation for Gainsight, but more importantly, points to broader implications for the Customer Success movement -- that the largest brands in the world are adopting the best practices, transforming their business operations, and driving significant revenue growth through an investment in Customer Success."

Customer Highlights
One of the exciting new additions to the Gainsight customer portfolio is Box, the Los Altos-based leader in enterprise content collaboration that is transforming the way people and organizations work and helping business of all sizes securely access and manage their critical information in the cloud.

"Customer Success is a core value at Box and an important part of our subscription business model," said Jon Herstein, SVP Customer Success at Box. "With Gainsight, we'll be able to build on our leadership in Customer Success and continue to solidify Box's position as the trusted choice for content management in the cloud."

Another recent Gainsight customer is MobileIron, the purpose-built mobile IT platform for enterprises to secure and manage mobile applications, content, and devices.

"Our mission is to deliver an exceptional customer experience, and we are excited to take our customer engagement to the next level with Gainsight," said Mike McCarron, VP Customer Success, MobileIron. "With Gainsight, we will have better, faster, and more precise insights about how our customers are progressing on their Mobile First journeys and where we can help them."

Gainsight Continues Momentum with Addition of New Board Member Kirk Bowman
Gainsight also announced the appointment of Silicon Valley veteran Kirk Bowman, Venture Partner at Accel Partners, to its board of directors. Kirk's most recent operational experience was as the Sales Executive at Equallogic, which was acquired by Dell Inc. in 2008 for $1.4 billion. Kirk currently serves on the board of various other private companies, including Atlassian, Code 42, Sookasa, Couchbase, Grovo, Semmle, and Delphix. He is also a Lecturer at the Stanford Graduate School of Business where he teaches a course in building and managing professional sales organizations.

Meet Gainsight at Pulse 2015
Gainsight announced last month that early bird registration is open for the third-annual Pulse Conference 2015, the Customer Success industry's destination conference. The event is expected to draw over 2000 executives from subscription businesses and will be keynoted by Michael Lewis, Author of Moneyball. Pulse will be held on May 12-13, 2015 at the historic Pier 48 in San Francisco.

For More Information

About Gainsight
Gainsight, the first and only complete Customer Success solution, helps businesses grow faster by reducing churn, increasing upsell, and driving customer advocacy. The company's SaaS solution is 100% Salesforce native and uses predictive analytics to drive revenue from sales, usage, support, survey and other sources of external customer data. In this way, Gainsight provides a 360° view of customers and drives retention across Customer Success, sales, marketing, executive and product management. Learn how leading companies like Angie's List, Box, Castlight Health, Marketo and Informatica use Gainsight to help their customers succeed at www.gainsight.com.

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