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GAINESVILLE, Fla., Jan. 26, 2017 -- SharpSpring, Inc. (NASDAQ:SHSP), a global provider of cloud-based marketing technologies, secured 213 new customers for its flagship marketing automation platform during the fourth quarter of 2016. At quarter-end, the company had 1,139 agency partners and over 5,250 businesses using its marketing automation platform, which was up 80% from 2,925 businesses at the end of last year. Annualized recurring revenue from the new customer additions totaled approximately $1.5 million.
“As expected, we were still able to achieve modest growth in new customer wins during Q4, despite our focus on completing the consolidation of our business under the SharpSpring brand during the second half of 2016,” said company CEO, Rick Carlson. “Having said that, our success in 2016 is best reflected by the 33% growth in new customer wins during the year. This is a tremendous feat given that we were able to achieve this amount of scale in less than three years since the launch of our platform. This rapid success not only speaks to our unique go-to-market strategy, but also to the ease-of-use and rich functionality of our technology.”
“We are confident the transformational activities we completed during 2016 have positioned us to further expand our market share in the multi-billion-dollar marketing automation space,” added Carlson. “Our new marketing strategies focused on lead generation are expected to build on the momentum established in 2016 and produce a reacceleration of customer wins beginning in the first half of 2017.”
SharpSpring plans to report its full financial results for the fourth quarter of 2016 in late February.
About SharpSpring, Inc.
SharpSpring, Inc. (NASDAQ:SHSP) is a rapidly growing, global provider of cloud-based marketing automation solutions that enable businesses to improve lead generation and engagement to drive more sales. The company’s product lines, which include SharpSpring and SharpSpring Mail+, are known for their innovation, flexible architecture, ease of use, and cost-effectiveness — all backed by high-quality customer support. Learn more at www.sharpspring.com.
Company Contact: Edward Lawton Chief Financial Officer 617-500-0122 [email protected] Investor Relations: Liolios Group, Inc. Matt Glover or Najim Mostamand 949-574-3860 [email protected]
