GAINESVILLE, FL – July 12, 2018 – SharpSpring, Inc. (NASDAQ: SHSP), a leading cloud-based marketing automation platform, secured a record 301 new customers for its flagship marketing automation platform during the second quarter of 2018, up 45% from Q2 of last year. The new customer additions are expected to generate approximately $2.1 million in annual recurring revenue. At quarter-end, the company had 1,510 agency partners using and reselling its marketing automation platform.
“We are pleased with our second quarter performance,” said SharpSpring CEO Rick Carlson. “The additional 301 customers we added in Q2 is yet another record for new wins and speaks to the scalability of the sales and marketing machine we’ve created as well as the strength of our product offering versus the competition.
“These results also provide validation that our strategic plan to focus additional resources on our sales and marketing efforts continues to be productive. We acquired these customers for an average customer acquisition cost (CAC) of $7,800, which is an improvement from the prior quarter and continues to be exceptional given the high lifetime value (LTV) that we expect from these customers over time. As we enter the second half of 2018, we look forward to capitalizing on this momentum and expanding our growing pipeline of new opportunities throughout the rest of the year.”
SharpSpring plans to report its complete financial results for the second quarter of 2018 in August. 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.
Chief Financial Officer
Liolios Group, Inc.
Matt Glover or Tom Colton