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| Ketera Completes Record Fiscal Year |
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Under New Executive Leadership, Company Launched Next Generation Purchasing Solution, Increased Customer Base and Built Strategic Partnerships in 2006
Santa Clara, Calif., January 24, 2007 – Ketera Inc.,
the leading provider of On Demand Spend Management solutions, today announced it achieved record
growth in 2006 under the new executive leadership of CEO Burton M. Goldfield. Finishing the year
strong with solid revenue growth, Ketera successfully launched the industry′s first "consumerized"
corporate purchasing system, increased its overall customer base and built strategic partnerships in 2006.
The company also heads eagerly into 2007 having just secured $14 million in its mezzanine funding
round to sustain its momentum as the emerging leader in the on demand spend management industry.
During the fourth quarter, Ketera continued to demonstrate clear market leadership by again
achieving a 100 percent customer renewal rate, and increasing up–sell and cross–sell revenues
from both existing Fortune 500 and mid–enterprise customers. Ketera also continued its customer
acquisition this quarter with six new customer wins across multiple industries and geographies,
ranging in size from mid–to–large enterprises, including companies from the financial services
and healthcare sectors, as well as the largest power distribution company on the West Coast.
Throughout the entire fiscal year, Ketera achieved a 100 percent customer renewal rate and signed
a total of 35 new enterprise customers. Additionally, Ketera increased bookings by 210 percent and
increased revenue by 150 percent year over year. In 2006, Ketera also surpassed $4 trillion in
spend analyzed and more than $1 billion in transactions between buyers and suppliers, demonstrating the
explosive market call for its on demand spend management solutions.
Other key corporate, partner and product milestones for Ketera in 2006 include:
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Established strategic partnerships with Infosys BPO and The Claro Group |
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Launched new Ketera Invoice Management and Ketera Supplier Content Management on demand solutions |
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Received numerous industry accolades including: Datamation Product of the Year, Deloitte Technology Fast 50
Silicon Valley, Deloitte Technology Fast 500, Inc. Magazine 500 Fastest–Growing Private Companies, Software Magazine
500, Red Herring Top 100 Private Companies in North America, Supply & Demand Chain Executive 100, Supply & Demand Chain
Executive Pros to Know, and Baseline Magazine ROI award finalist with customer Kennametal, Inc. |
"Ketera′s growth this past year provides further evidence of the growing importance of spend management
as a strategic enterprise function and the increasing preference for applications delivered on demand," said
Vance Checketts, vice president, global supply management research, Aberdeen Group. "It also reaffirms the
company′s strength and their ability to deliver innovative solutions to meet the growing market demand."
"Our fourth quarter performance tops a year of accelerating record growth at Ketera. This year we launched the
next generation of `consumerized´ corporate purchasing solutions while broadening our partnership portfolio, and our
results demonstrate how our value proposition is resonating with customers," said Burton M. Goldfield, CEO of Ketera.
"By helping customers reduce their corporate spending with on demand solutions, Ketera has established itself as the
innovative alternative in the spend management market. We look forward to fiscal year 2007 with optimism, as we
further increase our market opportunity with a new round of funding that will be used to expand our direct sales force and channels program."
About Ketera
Ketera is the fastest–growing provider of on–demand spend management solutions, providing
companies with the applications and services needed to control and reduce corporate spending. Ketera′s closed–loop spend
management solutions include applications for spend analysis, sourcing, contract management, procurement, supplier enablement
& content management, supplier performance management, and invoice management.
Since its inception, Ketera has supported enterprises customers of all sizes, industries and geographies,
including numerous Fortune 500 companies. In 2006, Ketera surpassed $4 trillion in spend analyzed and more than
$1 billion in transactions between buyers and suppliers. Many of the world′s leading enterprise companies, including
ServiceMaster, American Express, Kennametal, Con–way, and Northrop Grumman Corporation depend on Ketera Spend
Management to deliver real, hard–dollar savings quickly.
For more information about Ketera and the Ketera Spend Management
suite of services, please visit: http://www.ketera.com.
Contact:
Voce Communications, Inc.
Amy Wall
650–228–5182
awall@vocecomm.com
Source: Ketera Technologies
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