Convercent Posts Record Results Second Quarter 2017

(Thomson Reuters ONE) -


Accelerated Growth In Worldwide Customer Base Drives Strong Numbers for Ethics
And Compliance Software Leader

DENVER, CO--(Marketwired - Aug 29, 2017) - Convercent, the leading global
provider of SaaS enterprise ethics and compliance management software, today
announced record results in the second quarter of 2017. Highlights include
significant growth in customers worldwide as well as a rapidly expanding
workforce.

"This past quarter's growth is proof Convercent is meeting a crucial need for
today's biggest global brands. Across industries and countries, business leaders
are recognizing the critical importance of corporate ethics, and our cloud
software enables them to drive ethics into the center of their organizations,"
said Patrick Quinlan, co-founder and CEO of Convercent. "I believe the future
will be built on companies that try to do the right thing. We have a massive
opportunity to affect change at a global scale by giving leaders the solutions
they need to put ethics and values at the forefront."

Highlights include:

* High Customer Growth: Convercent added over 40 new customers in Q2 including
leading furniture manufacturer Steelcase, New York University, and fast-
casual restaurant chain Torchy's Tacos. The company's ACV in Q2 also grew
more than 60 percent year-over-year.
* Expanded EMEA Footprint: Convercent greatly expanded its EMEA customer base
in Q2. New customers include Total Gas & Power, the largest industrial and
commercial natural gas supplier in the UK, and global chemical company
Venator. New regulatory developments in EMEA that require companies to
implement whistleblowing and alert mechanisms have fueled Convercent's
growth abroad.
* Effective Customer Retention Rate Exceeds 100 Percent: In addition to growth
in new customer acquisitions, existing customers continued to achieve

success with Convercent. The company continued to post an effective
retention rate exceeding 100 percent in Q2.
* Expanded Employee Base: To meet market demand, Convercent continued to
expand globally, adding key roles across the company in engineering,
marketing, and sales. Convercent added 18 new hires in Q2, bringing total
headcount to 125.
About Convercent
Convercent is the leading provider of the one cloud platform of ethics and
compliance that helps global enterprises maximize performance by bringing ethics
to the center of their business. Companies use Convercent's Ethics Cloud to hear
the voice of their employees, understand organizational behavior, and make
informed decisions to protect their culture. The Convercent Ethics Cloud
applications include: Helpline and Case Manager, Learning Manager, Policy
Manager, Disclosure Manager and Convercent Insights.

Convercent has more than 550 customers worldwide, including Microsoft, Tesla,
The Four Seasons, Capgemini and Under Armour. The company's rapid success is
fueled by product innovation and a unique culture. Convercent is backed by
venture capital funding from Sapphire Ventures, Tola Capital and Azure.

Contact:
Emily Busse
ebusse(at)launchsquad.com
(415) 625-8555






This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Convercent via GlobeNewswire

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Datum: 29.08.2017 - 15:00 Uhr
Sprache: Deutsch
News-ID 558139
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