Procurify Reports Record-Breaking Growth, Nearly Triples Quarterly Revenue
Quarter-over-quarter growth and account expansion continue to accelerate
Vancouver, BC – Procurify, a leading global platform for mobile and cloud-based purchasing, is today reporting first quarter revenue that dwarfs the company’s previous records. During Q1, the team achieved an increase of more than 250% in net new revenue and a 500% increase in new revenue from existing clients through account expansion.
Net new revenue growth has been fueled by an increased number of enterprise and high-profile clients like Berkshire Hathaway, Bangkok Life Insurance and OLX.
Account expansion is accelerating, with some clients as much as quadrupling their subscribed account base and increasingly choosing to roll out Procurify to a greater number of departments, locations and subsidiaries. This allows for more precise data and greater efficiency. Account expansion begins as early as 3 months after implementation.
Aman Mann, co-founder and CEO of Procurify said: “The first quarter of 2016 has been one of tremendous growth. This has been further compounded by the fact that we are increasingly seeing larger deal sizes – bigger clients are getting greater value. This outcome speaks volumes about the success of our product-market fit, growth of our Android and Apple mobile user base, focus on value for the user, and the recent launch of our expanded accounts payable module. We will carry on improving and adding features to Procurify in 2016, as well as continue our mission to make work life easier while unlocking the potential of every individual.”
This explosive first quarter also saw the release of a new integration with Slack – Procurify is the first in the spend-management space to integrate with Slack. The company is also continuing to grow it’s team, hiring business development and customer success team members to support its fast-growing customer base.
Procurify is a global leader in mobile and cloud-based purchasing. With users in over 100 countries worldwide, Procurify empowers businesses to manage direct and indirect company spending and streamline the purchasing process. The ridiculously easy-to-use platform provides control and visibility of company spend.
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