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GAINESVILLE, Fla., Oct. 05, 2017 -- SharpSpring, Inc. (NASDAQ:SHSP), a global provider of cloud-based marketing technologies, secured 258 new customers for its flagship marketing automation platform during the third quarter of 2017.
At quarter-end, the company had 1,327 agency partners and over 6,400 businesses using its marketing automation platform. Recurring revenue from the new customer additions over the first year are expected to be approximately $1.8 million.
“Q3 was the best sales quarter in the history of the company and represented a turning point for SharpSpring as we are now starting to reap the benefits from the customer pipeline we built in the first half of the year,” said SharpSpring CEO Rick Carlson. “Our focus and efforts on driving more leads into our pipeline and converting more of those leads into sales was evidenced by the record new customer wins this quarter.
“Furthermore, we acquired these customers at an average customer acquisition cost (CAC) of below $6,200 per customer, which is very attractive when compared to our average expected lifetime value for agency customers of over $50,000. Looking ahead, we are continuing to refine and improve our sales and marketing strategies to attract and win new customers in an efficient manner. Overall, we believe we are increasingly well positioned to expand our market share in the multi-billion-dollar marketing automation space.”
SharpSpring plans to report its complete financial results for the third quarter of 2017 in November. The conference call details will be announced prior to the call.
About SharpSpring, Inc.
SharpSpring, Inc. (NASDAQ:SHSP) is a rapidly growing, highly-rated global provider of affordable marketing automation delivered via a cloud-based Software-as-a Service (SaaS) platform. Thousands of businesses around the world rely on SharpSpring to generate leads, improve conversions to sales, and drive higher returns on marketing investments. Known for its innovation, open architecture and free customer support, SharpSpring offers flexible monthly contracts at a fraction of the price of competitors making it an easy choice for growing businesses and digital marketing agencies. 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 Tom Colton
949-574-3860
[email protected]
