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| Ketera Q1 Results Signal Strong Fiscal and Product Momentum
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Company Achieves First Quarter Fiscal Goals and Maintains Robust Product Pipeline
Santa Clara, Calif., April 25, 2007 – Ketera, the leading provider of On Demand Spend Management solutions, today announced it closed another successful quarter by achieving its fiscal goals, securing new customer wins, expanding its footprint with existing customer and maintaining a rich product pipeline in the first quarter of 2007. Beyond achieving significant market momentum and key business metrics in the first quarter, Ketera also furthered its position as an innovative industry leader by securing a partnership with Hyperion Solutions Corporation, locking in $14 million in its mezzanine funding round and receiving industry accolades. Motivated by its record yearly revenue growth and successful launch of the industry′s first "consumerized" corporate purchasing system in 2006, the company is innovating and currently growing at an accelerated pace in fiscal year 2007.
During the first quarter, Ketera secured a number of new customer wins spanning across the strategic media services, interactive entertainment and medical equipment industries. As customers continue to realize savings and attain bottom line results, Ketera also enjoyed a 100 percent customer renewal rate and obtained major customer contract expansions in the oil & gas, engineering & construction, and home services industries. The company also experienced an increase of nearly 200 percent in the number of total users engaged in the Ketera system, surpassing more than 115,000 users at of the end of the first quarter.
Ketera also continued to build out its solution offerings in the first quarter by announcing new products and rolling out several new upgrades to its entire suite of spend management solutions. Specifically, the launch of Ketera Spend Analysis 5.0 in February – the latest addition to Ketera′s highly–innovative Mercury solutions platform – demonstrated an industry first by banishing the black box approach to the data cleansing and classification process with a more complete and accurate picture of companies′ spend. In January, Ketera also upgraded its customers to the recently "consumerized" Ketera Contract Management solution now offered on the Mercury platform.
"The solid growth we experienced again in the first quarter is a true testament to the strength behind Ketera′s mission – to remain steadfast in delivering the utmost business value to customers through innovative, on demand spend management solutions," said Goldfield. "With our sole focus on the customer′s realized benefits, we′re able to maintain a high level of trust within our user base and grow more successful as a company. Looking ahead to the rest of 2007, we expect to continue on this accelerated growth path and emerge as the spend management market leader."
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. To date, Ketera surpassed $5 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
For more information:
Amy Wall
Voce Communications, Inc.
650–228–5182
awall@vocecomm.com
Source: Ketera Technologies
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