SOURCE: Spigit

Spigit

August 09, 2016 08:00 ET

Spigit Announces Exponential Growth With 2016 Sales up 60%, Q2 Sales up 120%

For the Sixth Consecutive Quarter, the #1 Provider of Innovation Management Software Experiences Record-Breaking Growth

SAN FRANCISCO, CA --(Marketwired - August 09, 2016) - Spigit®, the leader in innovation management software, today announced another record for sales growth with the first half of the year 2016 up by 60% year over year (YoY) and new customer sales in the second quarter of this year increased by 120% YoY. This marks the sixth consecutive quarter of record sales and revenue growth for the company. Spigit is the largest provider of innovation management software to some of the world's foremost companies, including AT&T, Citibank, Duke Energy, MetLife, Pfizer, Unilever, UnitedHealth Group and more.

Spigit CEO Scott Raskin said, "The market for innovation management software is exploding. As the largest vendor by far, Spigit is leading the way for all companies to become more innovative by engaging with their employees. Our growth is driven by our laser focus on our customers' success and by our continued and increased R&D efforts to not only provide the best software for crowdsourcing innovation but also to be the most innovative vendor in the marketplace."

Companies around the world are seeking innovation practices that will give them a competitive edge. In a recent report, Gartner highlighted crowdsourcing innovation as high ROI for digital transformation. Per Gartner, 50% of CEOs across all industries believe that their company will be digitally transformed by the year 2020.

Spigit's mission to drive idea generation and employee engagement through crowdsourcing innovation programs has given companies a powerful tool to stay competitive and tap into the creative potential of their organizations. The company's continued momentum demonstrates that more companies are turning to Spigit to source top new ideas for process improvement and to identify new products and markets.

Looking forward, Spigit will focus on investing in key areas:

  • Expanded sales and marketing efforts in North America, Europe, and Asia-Pacific;
  • Increased investments in R&D, allowing Spigit to expand into new business areas; and
  • Additional development of the Spigit global Customer Success team

Separately, Spigit's parent company, Mindjet, is announcing the sale of the MindManager business unit to Corel Corporation. Going forward, Mindjet Corporation will be renamed Spigit Corporation. Scott Raskin will continue serving in his role as the President & CEO of Spigit and as a member of the Board of Directors of Spigit.

About Spigit

Spigit is the largest provider of innovation management software to some of the world's foremost companies, including AT&T, Citibank, Duke Energy, MetLife, Pfizer, Unilever, UnitedHealth Group and more. Spigit has powered innovation and process improvement for large enterprises across major industries of financial services, manufacturing, healthcare, and energy. Click here for a free Spigit demo.

Spigit cloud software enables organizations to engage with their employees, customers, and partners to build a culture of innovation. Spigit proprietary automation, patented algorithms, and highly configurable, secure and multi-lingual platform make it the only solution that will scale seamlessly across the enterprise. Spigit global HQ is in San Francisco, European HQ in London, and our Asia-Pacific HQ is in Sydney. Learn more at www.spigit.com.

© 2016 Spigit Corp. All rights reserved. Spigit, the Spigit logo, are trademarks or registered trademarks of Spigit Corporation and/or its in the U.S. and elsewhere. All other trademarks mentioned herein are the property of their respective owners.

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