SilkRoad technology Announces Record Growth in Q2 2011Highlights Include Continued Global Client Expansion, More Than 5 Million End Users, Strategic Hires, New Partnerships and Award Recognition
SilkRoad technology, inc., a leading provider of talent management solutions, announced today the second quarter of 2011 marked the strongest quarterly results in company history, achieving a record number of new clients, monthly recurring revenue and bookings. Top talent brands choosing to partner with SilkRoad as their strategic talent management vendor included LivingSocial, Queensland Bank, Oceus Networks, Mighty River Power, Meridium and Bingham Hospital. SilkRoad also surpassed more than 5 million global end users in more than 80 countries.
This quarter SilkRoad expanded its global operations with a new corporate office in London, England, enabling the firm to better meet the increasing talent management needs of businesses throughout the United Kingdom, Nordics and Netherlands. This expansion adds to SilkRoad's list of recently opened corporate offices in France and Japan and follows the $40 million investment raised in late 2010 to capitalize on the increasing global market demand for talent management solutions.
SilkRoad announced this month the appointment of a new CMO, Wm. Edward Vesely. Vesely is responsible for worldwide marketing and has more than 22 years of marketing experience. He brings to SilkRoad a consistent record of growing revenue, market share and business valuation with his experience in global marketing and channel development.
Also in the second quarter, SilkRoad announced strategic partnerships with companies HireRight and WorkStrategy. SilkRoad and HireRight, a leading provider of employment screening solutions, will provide joint customers with a new pre-integrated solution to help them manage their employment screening programs more efficiently, and make better-informed hiring decisions. SilkRoad's recruiting management solution OpenHire has been seamlessly integrated with HireRight, through the HireRight Connect integration platform, to increase efficiency and provide faster turnaround for SilkRoad clients through the employment screening process.
SilkRoad's partnership with WorkStrategy, a leading provider of innovative human resource management and technology services, will make SilkRoad's RedCarpet onboarding and life events management solution more accessible to WorkStrategy's customers operating in an integrated ERP-based human capital management (HCM) environment. This partnership will enable SilkRoad to enhance its existing Oracle-PeopleSoft customer deployments by leveraging WorkStrategy's PeopleSoft integration expertise including data management, user accessibility, and workflow automation.
'Our continued expansion and client growth, exciting partnerships with HireRight and WorkStrategy, and recognition across the industry has made Q2 2011 the best quarter in company history,' said Andrew J. 'Flip' Filipowski, Executive Chairman and CEO of SilkRoad technology. 'We're excited about our expansion, which includes new team members and offices across the globe, and a new CMO leading our worldwide marketing efforts. 2011 has already been an amazing year for us.'
Also in Q2, the company was honored as a 'Customer Service Department of the Year' in The 2011 American Business Awards, America's premier business awards program. This is the fifth consecutive year SilkRoad has been recognized by the American Business Awards for its customer service. The Network Products Guide, the industry's leading technology research and advisory publication, also honored the company by naming SilkRoad a finalist in the 6th Annual 2011 Hot Companies and Best Products Award categories for its Life Suite. SilkRoad has also been recognized by Network Product Guide multiple times for its product innovation.
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