GAINESVILLE, FL – SharpSpring, Inc. (NASDAQ: SHSP), a leading cloud-based marketing automation platform, secured 327 new customers for its core marketing automation platform during the first quarter of 2019, up 47% from Q1 of last year. The new customer additions are expected to generate approximately $2.3 million in annual recurring revenue. At quarter-end, the company had 1,804 agency partners using and reselling its marketing automation platform.
“Despite typical seasonality, our first quarter was a record start to the year for new customer wins and the first time we added over 300 new customers in Q1,” said company CEO Rick Carlson. “And when compared to the same period in 2018, we drove nearly a 50% increase in new customers, which is a testament to our sales process, as well as the rise in market awareness of the SharpSpring platform and marketing automation in general. We have now achieved seven consecutive quarters of year on year, new customer growth.”
“With the capital provided by our recent financing in March, we have the resources to increase investment in our already-proven sales and marketing strategy to accelerate customer acquisition and revenue expansion for the foreseeable future. At the same time, we’re also continuing to place a significant emphasis on maximizing the success of our existing agency customers on the platform, which should lead to a number of positive downstream benefits in the latter half of the year and beyond. Put together, SharpSpring continues to evolve, from the inside as well as out, and is well positioned for continued growth with its best days ahead.”
SharpSpring plans to report its complete financial results for the first quarter of 2019 in May. 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.
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