August 31, 2011 – IGLOO Software, the leading social business software in the cloud, today announced record performance, including license growth of 388% to start the year and 437% above last year’s second quarter performance.
Social Business Company Demonstrates Strong Acceptance for Cloud Software with Rapidly Maturing Product, a New International Office and Record Revenue Growth Building on its PROFIT HOT 50 Ranking.
August 31, 2011 (Kitchener, ON) - - IGLOO Software, the leading social business software in the cloud, today announced record performance, including license growth of 388% to start the year and 437% above last year's second quarter performance. The company continued to build off of its recently announced ranking in the PROFIT HOT 50, setting records for total and recurring revenue and solidifying its position as one of the industry's fastest growing Software as a Service (SaaS) vendors.
"How quickly an organization implements social tools and adapts to this new model of business will make the difference between rapid success and slow failure," said Dan Latendre, CEO of IGLOO Software. "Our growth is a direct result of the fact that customers of all sizes are growing tired of long implementation times and are seeking to accelerate the transition to a more agile business."
"The PROFIT HOT 50 exhibit all the traits that underpin business success," remarked PROFIT editor Ian Portsmouth. "With good products, persistent and focused leaders and motivated teams, Canada's Top New Growth Companies have achieved enviable growth rates despite a shaky economy."
Profit HOT 50
The PROFIT HOT 50 is the definitive ranking of Canada's Top New Growth Companies. Published in the October issue of PROFIT magazine and online at PROFITguide.com, the PROFIT HOT 50 ranks young firms by two-year revenue growth. IGLOO was ranked #46 in the latest ranking released on August 31, 2011.
Social Workflow & Moderation
IGLOO introduces new capabilities to all customers every 45 to 60 days and wrapped up the first half of the year with its third major product release. Core to the release was social workflow and moderation, a feature that allows a business to act on, approve and even reject content prior to publishing. Managers can quickly and easily review drafts, assign tasks and approve all types of corporate content, including social interactions.
IGLOO announced the expansion of its operations with the opening of a satellite office in London to serve Europe, Middle East and Africa (EMEA). A significant portion of IGLOO's business already comes from outside of North America, via direct sales and the partner channel, and a number of customers are headquartered in Europe, including Thomson Reuters Aranzadi, Schillings and FINEOS. IGLOO also has multilingual capabilities and has been translated into French and three dialects of Spanish.
IGLOO now offers both a single tenant and multi-tenant offering for customers. Managed by Savvis, a CenturyLink Company and leader in Gartner's Magic Quadrant for Cloud Infrastructure as a Service and Web Hosting, customer data is hosted in a SAS70 Type II compliant data center. IGLOO also made strides towards SAS70 compliance for its own internal processes, further solidifying its credentials as an enterprise-class vendor.
About PROFIT Magazine
PROFIT: Your Guide to Business Success is Canada's preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For 29 years, Canadian entrepreneurs and senior managers across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at www.PROFITguide.com.
About IGLOO Software
IGLOO's social business software is the fastest way to enable modern business collaboration. Delivered purely in the cloud, IGLOO empowers your people to become more productive, responsive and agile. That is why world-class companies, such as Cisco, Thomson Reuters Aranzadi, Deloitte and the ATP World Tour, choose IGLOO. Learn more at www.igloosoftware.com.
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