SilkRoad technology Announces Q4 Results for 2010

Chicago, IL

SilkRoad technology, inc., a leading provider of talent management solutions, today announced the strong fourth quarter for 2010 marked another phenomenal record year of sales growth. Highlights from the quarter include closing a $40 million equity round of capital, new offices in Japan, record sales growth, and the announcement of its second annual users' conference.

This quarter SilkRoad announced it closed on a $40 million equity round of capital from new investors Intel Capital and Tenaya Capital and existing investors Foundation Capital, Azure Capital and SilkRoad Equity. Plans for the current round of capital include a significant expansion of SilkRoad's worldwide direct sales and marketing efforts, strategic acquisitions and continued product development.

As part of its plans for the recent funding, SilkRoad also announced this quarter at a ceremony in Tokyo that it has expanded its global operations with a new corporate office in Tokyo, Japan. The new office will be led by Japanese technology services veteran Shinichiro Ishibashi, and will enable the firm to better meet the demands of the increasing number of corporations throughout Asia that are looking to advance their talent management capabilities.

In Q4, SilkRoad continued to experience a record number of new clients and of clients purchasing its core HR solution, HeartBeat, including Hallmark Aviation Services, and Sea Pines Resort, LLC.

The company also experienced increased adoption of both its WingSpan and GreenLight solutions. New clients include: Infinera; Altair Strickland; Ascend Performance Materials LLC; Motricity, Inc.; and SDI Health.

'This was another amazing quarter at SilkRoad technology, with our recent funding, global expansion and continued record sales growth,' said Andrew J. 'Flip' Filipowski, Executive Chairman and CEO of SilkRoad technology. We have the best team in the industry and with their hard work we continue to grow our business, sign new clients and remain the leader in talent management solutions. Thanks to our team's dedication, we continue to give companies around the globe the biggest advantage they can have over competition - the ability to get the right people in the right roles.'

SilkRoad also announced this quarter it will hold its second annual users' conference in Boca Raton, Florida from May 22 - 25, 2011. SilkRoad experienced amazing feedback from both analysts and clients after its inaugural users' conference last May. Similar to the 2010 event, the 2011 SilkRoad Connections will boast a full list of speakers and fun events for attendees. For more information please visit the conference site here.

<< Return to Press Releases