Vovici Reports Record Revenues and Profitability in 2009

Last week we announced that Vovici's SaaS (Software as a Service) revenues in 2009 increased approximately 30% over 2008 and our third and fourth quarters represented the largest and most profitable in company history.

"It was an amazing year for Vovici and I am truly proud of our accomplishments," said Greg Stock, chairman and CEO of Vovici.  "Since I joined the company in July, we have crystallized our vision and are executing on our strategy to be the dominant player and the technology leader in the Feedback Management market.  It's clear that this formula is working, as we delivered back-to-back record and profitable quarters, while adding more new customers than at any time in our history." 

Vovici accomplishments in 2009 include:

Corporate and Financial

• In July, Vovici's board of directors appointed long-time, technology industry and marketing executive Greg Stock as the company's chairman and CEO
• In September, Vovici was named one of the fastest growing software companies in the world for the Software Magazine Software 500
• In October, Vovici was named one of three finalists for the SSPA STAR Award for Service Excellence in Emerging Business Support
• In November, Vovici was named to the SmartCEO Future 50, recognizing its leadership and strategic vision as one of the highest-growth companies in the Greater Washington area
• SaaS Revenues in 2009 increased approximately 30% over 2008, and Vovici's third and fourth quarters represented the largest and most profitable in company history

Customer Successes

• Vovici closed more than 250 new customers and saw its greatest revenue traction in large organizations with expansive user bases; new customers included: Harley Davidson, Coleman, AARP, FMC, Girl Scouts USA, TeleTech, Volusion, Epson, Navy Installation Command, CPA Global, NPR, The SCOOTER Store, Air Mobility Warfare Center, Navy Manpower and Analysis Center, Sallie Mae, Leerink Swann, Fair Isaac, McKesson Health Solutions, and Autotrader.com
• The company expanded its solution rollout with 80% of existing customers including Nielsen, Oracle, Intel, and the US Coast Guard to name a few
• The company published more than 20 customer success stories, case studies, and testimonials from companies such as SYKES, Oracle, and Rightmove for reaching new records for response rates; Caterpillar for managing Six Sigma initiatives; and NPR and Plymouth Rock for driving research costs down while capturing more customer information

Product Innovation

• Vovici delivered its next-generation EFM solution; Vovici v5 enables a systematic approach to feedback, with innovative features including Respondent Health Scoring, Global Panelist View, and powerful Survey Campaign Management
• Vovici doubled the size of its development team, expanding offshore teams in Ukraine and unveiling its Vovici Predictive Agile^TM development methodology that quadruples release frequency

Thought Leader

• The Vovici blog created by founder and vice president of strategy, Jeffrey Henning, is the leading enterprise feedback management blog, having broken consecutive visitor records nearly every week in 2009
• Vovici webinars on feedback management attracted 17,000 registrants
• Organic search traffic to the Vovici website increased more than 500%
• Vovici's Vision 2010 User Conference (May 2010) was announced with keynotes from Jeb Dasteel (CCO, Oracle), Jeanne Bliss (author, customer experience expert), and Bob Hayes (author, customer experience consultant)

"Our forward momentum gives us great confidence in our strategy," continued Stock. "There are now more articles being written about Vovici than any other player in this space. Our pipelines have swelled to all-time highs, and we continue to ramp up in development, professional services, sales, and marketing. It is clear to me that we have leapt to the front of the pack in the EFM market, and we intend to distance ourselves from that pack in 2010."