Spigit (news, site) continues to prove that its idea management platform is a solution worthwhile. This week the company reported record business results for the first half of fiscal 2010, including new customers, products and revenue growth.
Growin' Up and Out
We'll give you the numbers straight up. In Q2, 2010, Spigit grew:
- 287 percent compared to the previous quarter
- 308 percent compared to the same quarter last year
- Double in customer base, and grew its employee base by 107% since January 1, 2010
The company has also been spreading its wings. A new professional services office opened in Boulder, CO, a sales office in the Washington, D.C. area, their home base in Pleasanton, CA has expanded.
The Good Stuff
Considering those numbers, it's obvious that the little California-based company has been busy. In the first half of 2010 alone, Spigit launched four new products, and upgraded its idea management and innovation platform to version 3.0. We highlighted the release of CitizenSpigit earlier this year, which is a Government-level SaaS innovation management tool.
"We are the only company that provides all three of the following for governments: incentives /rewards, reputation, and comprehensive analytics/reporting," said Spigit's Marketing VP, Richard Tso.
Further, the company launched an iPhone application, MobileSpigit, to provide on-the-go users with access to their communities and ideas.
"In three short years we have become the leader in new customer acquisitions and total revenue due to three key differentiating components: software algorithms, behavioral science methods and game mechanics," said Paul Pluschkell, CEO and co-founder of Spigit. "We've made significant inroads in market share and have seen strong growth in products, customers and average deal size, reinforcing our position as the leading idea management provider. We expect continued growth through the rest of the year as we grow our global customer base and further invest in customer service, product development, and leading edge technology."
Finally convinced? Follow us as we continue to follow Spigit here.