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GAINESVILLE, Fla., April 24, 2017 -- SharpSpring, Inc. (NASDAQ:SHSP), a global provider of cloud-based marketing technologies, secured 211 new customers for its flagship marketing automation platform during the first quarter of 2017. At quarter-end, the company had 1,200 agency partners and more than 5,650 businesses using its marketing automation platform, which was up 56% from 3,600 businesses at the end of the first quarter last year. Annualized recurring revenue from the new customer additions totaled approximately $1.5 million.
“As projected, new customer acquisition in Q1 was in line with the prior quarter,” said company CEO Rick Carlson. “Although this sales figure reflects the ongoing impact of the significant change our organization experienced during 2016, including a product migration and the consolidation of our business under the SharpSpring brand, we are encouraged by the level of sales activity. We finished Q1 with our strongest month ever, and we are encouraged by the strengthening lead flow being generated by our now fully aligned and focused organization.
“Our success securing the #2 position in the agency vertical was driven, in part, by our attractive pricing model coupled with the rich feature set and premium functionality of our platform. We have continued to enhance our product features as well as expand integrations with other complementary platforms like Shutterstock and Enthusem, providing greater capabilities to our existing customers as well as making our offerings even more desirable to potential new customers. The result of these efforts is that we are seeing positive momentum build for our product, and expect to build on this momentum throughout the rest of the year.”
SharpSpring plans to report its complete financial results for the first quarter of 2017 in May.
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]
