Bullhorn Reflects upon Year in Review.
BOSTON--(BUSINESS WIRE)--Jan. 15, 2003
2002 Saw Increase in Customer Base, New Funding and Strengthening
of Services Provided to Staffing
Professionals across Multiple Verticals
Bullhorn, a leading provider of customizable front office CRM solutions, today released a comprehensive overview of 2002 corporate and technological developments. Specific highlights of the year have included:
-- 10x increase in annuity revenue over 2001. -- The successful raising of a series B round of equity financing and the acquisition of leading staffing exchange provider BridgePath. -- 10 percent per month compounded growth in user base. -- Several new market leading product developments, including an integrated Instant Messaging (IM) and notification system, seamless wireless connectivity, and a sophisticated relational email system. -- Successful implementation of the BullhornSTAFFING system in multiple vertical markets within the temporary and permanent placement branches of the staffing industry including healthcare, legal, manufacturing, information technology
"We're tremendously pleased with our progress in 2002 with respect to servicing customers and growing our business," said Greg Hanson, Bullhorn CEO. "We are singularly focused on exceeding customer expectations before, during, and after a service contract begins. With the strong support of our investors we have been able to respond quickly to customer demands and stay ahead of the competition in developing new, value-added features and services that help our customers take advantage of opportunities in their markets. Given our strong customer base and demand for our flagship product, BullhornSTAFFING, the leading customizable front office CRM system for staffing agencies, we are excited about and confident in our prospects for 2003."
"The momentum is really growing," offered Barry Hinckley, Bullhorn President and Founder. "Selling any software product in this economic environment is a challenge. That said, we are gaining new customers month to month and exceeding clients' expectations, proving that we have a product with a demonstrable ROI and one that provides a significant business value."
Bullhorn has implemented accounts for over 1,100 users of BullhornSTAFFING from a broad range of staffing agency types and sizes. As more firms join the growing list of companies who choose Bullhorn to power their business, Bullhorn's software, service, and support continue to receive high praise. Of particular value to new and continuing customers is Bullhorn's unique ability to be rapidly and easily customized on an ongoing basis. Furthermore, BullhornSTAFFING's zero footprint architecture and pay-as-you-go service model drives fast return on investment for clients while maintaining maximum flexibility and control over business planning.
"Our experience with Bullhorn has been nothing but positive," stated Michael O'Donnell, Versatech CEO. "Not only was our transition to BullhornSTAFFING seamless, but we have continued to enjoy the ability to refine the product to meet the changing needs of our business. Additionally, the financial returns on our investment in the software have been equally impressive; instead of having to reconcile more than a quarter million dollars in costs and overhead associated with internal database management, we have been able to allocate that capital to other expenditures directly affecting our bottom line and helping to grow our business."
About Bullhorn, Inc.
Bullhorn builds and delivers customized front office CRM applications for specific vertical markets. BullhornSTAFFING is a purpose-built web-native platform for the Staffing and Human Capital Management Industry. BullhornSTAFFING is recognized by industry leaders as one of the most powerful, flexible, and functional systems across a wide range of business types, sizes, specialties, and disciplines. Bullhorn offers advanced functionality, unprecedented levels of customization, and the best service and support systems in the industry, all backed by a 100% Satisfaction Guarantee.
Privately owned, Bullhorn is backed by GE Asset Management, internet.com Ventures, Elmrock Capital, Austin Investment Management, Invemed, Charter Ventures, WR Hambrecht + Co, BCI Partners and others. Bullhorn is focused on offering easy-to-use, enterprise class applications, with world-class service and support, delivered in a cost effective platform with a supremely intuitive interface. For more information visit www.bullhorn.com or call 617-464-2440.
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|Date:||Jan 15, 2003|
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