Leads360 Signs 4000th Client and Continues to Surpass Growth and Profitability Milestones
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Leads360 Signs 4000th Client and Continues to Surpass Growth and Profitability Milestones
Sales Lead Management Software Provider Increases Market Share and Achieves Record Profitability Despite Market Turmoil
Los Angeles, (August 31, 2009) - Leads360 Inc., a privately held and venture-backed "software-as-as-service" (SaaS) company, announced that it has signed Jones International University, a division of Jones International, Ltd., as its 4000th client. This signing comes as Leads360 has achieved new milestones of profitability and sales growth. Leads360 has recorded more than 50% year-over-year growth in revenue over the 12 month period from July 2008 to July 2009.
In 2007, Leads360 received an investment from Rustic Canyon Partners, an $800M venture capital firm located in Santa Monica, California. "Leads360 has overachieved in this challenging environment through solid execution and continuous innovation," commented John Babcock, Partner at Rustic Canyon Partners. In 2008, Rustic Canyon expanded their investment in Leads360. "We like to double down on winning teams." added Babcock. "When we see a rather mature start-up grow revenue by more than 50% year over year and reach both profitability and positive cash flow well ahead of budget after an initial investment, we know that we've picked a winner."
Since its founding in 2004, Leads360 has risen to become the dominant sales lead management software provider for business-to-consumer industries that rely on internet leads. Leads360 has grown to serve over 4,000 clients in the most competitive B2C industries such as mortgage, insurance, education, debt settlement, and loan modification. Additionally Leads360's product offerings have expanded to accommodate companies with as few as one salesperson up to several thousand including numerous Fortune 500 financial institutions.
"For profit, higher education is becoming increasingly competitive and achieving maximum efficiency from Internet leads is critical to success. After an extensive selection process, we selected Leads360 due to its state-of-the-art lead distribution engine, world-class contact management solution and enterprise-level scalability. The Leads360 team has been incredible to work with, and JIU is excited to have them as a business partner," said Bruce Cunningham, General Counsel and Vice Chancellor of Admissions and Enrollments at Jones International University.
"I am proud of what Leads360 has accomplished, despite the adverse market conditions," said Dan Morefield, President and CEO of Leads360. "2009 has been an exciting year as we have successfully entered new verticals, streamlined operations, and scaled our core products." Mr. Morefield continued by saying "our success in 2009 is directly correlated to hard work in 2008. We expect that our financial health and strong cash position will create some interesting opportunities for us in 2010."
