- 9 February 2018 14:23
Seismic Achieves 97 Percent Growth in 2017, led by Triple-Digit Customer Retention
Sydney, February 09, 2018 – 2017 saw a net revenue retention rate of 118 percent for Seismic, the leading global sales and marketing enablement solution, the company announced today. Strong customer retention helped facilitate 97 percent year over year revenue growth and landed them on the Deloitte Fast 500 for the second year in a row as the 132nd Fastest Growing Technology Company in North America, ending the year as the largest company in the sales enablement space.
To keep pace with sustained rapid growth, the company has hired former Guidewire Software (NYSE: GWRE) CEO and founder John Raguin as chief marketing officer. Raguin brings more than 20 years of technology executive experience to Seismic’s leadership team. In addition to founding Guidewire Software, which he led from inception to $150 million in revenue and pre-IPO, Raguin held management roles at Ariba (acquired by SAP) and MRO Software (acquired by IBM) and was a partner at venture capital firm F-Prime Capital. He will lead global marketing strategy at Seismic.
Seismic moved into larger offices in New York, San Francisco, Chicago and their San Diego headquarters in 2017, adding more than 100 total employees. In 2018, Seismic plans to hire approximately 190 additional employees. More than half of new positions will be allocated to its product team, which currently makes up about one-third of Seismic’s 350-person headcount. Seismic also plans on expanding its international efforts, including in the company’s recently launched Sydney, Australia office.
“2017 was a banner year for Seismic as we grew into the largest sales and marketing enablement provider in the space,” said Doug Winter, Seismic co-founder and CEO. “As we look at 2018, we have an aggressive hiring plan that will help us fully capitalise on our market momentum. I am incredibly excited to have John on board as CMO as his success and experience leading similar rapid growth companies will well complement the experienced management team we have in place.”
Customer success across industries
Seismic on boarded a new enterprise customer every 2.5 days and impacted more than 2.5 million selling interactions in 2017, achieving customer expansion in multiple major industries. Notable achievements includes:
• Technology: Seismic expanded its leadership position with high tech companies by growing more than 100 percent in the space in 2017, with new customers joining rapid growth innovators such as AppDynamics, Nutanix, and Qualtrics, to high flying disruptors such as Classy, On24, and Procore Technologies, among others. Seismic was also named a leader in Aragon Research’s Sales Engagement Globe™ for the second year in a row, along with Best B2B Sales Collaboration Tool in the Stevie Customer Service and Sales Awards.
• Financial services: Seismic added 50 asset management firms to their client roster in 2017, bringing the total number of asset managers using the solution to over 140, including 15 of the largest 25 global firms. Additionally, Seismic won Best Document Management Tool in the 2017 WealthManagement.com Industry Awards and was named Best Cloud Solutions Provider in the Mutual Fund Service and Technology Awards.
• Life sciences: Seismic also grew their life sciences vertical by more than 100 percent in 2017 and was named to Pharma Marketer 360’s annual Innovators list for the platform’s ability to align sales and marketing teams, along with being named Best Sales Aid in Pharma Marketer 360’s 2017 Trailblazer awards.
Seismic announced four major product launches in 2017 designed to further accelerate deal cycles at large enterprises while expanding the scope of what sales enablement platforms can accomplish:
• Seismic NewsCenter is a sales communications feature that allows enterprises to communicate relevant pieces of company, competitive, and industry news to the right sales rep at the right time, so that they remain fully informed in real-time, wherever they are through Seismic’s mobile apps. With NewsCenter, Seismic expanded their offering into sales communications to redefine a truly complete sales enablement solution.
• Seismic’s new Salesforce.com app with predictive content functionality allows sellers to discover inline, context-perfect content recommendations for their specific buyer and sales stage. Recommendations become more precise as the platform gets to know each seller better.
• WorkSpace for CRM allows sales and marketing teams to power content collaboration with CRM opportunity data, automating content collection, revisions and feedback for optimal sales productivity.
• Seismic announced technology partnerships with marketing automation providers Marketo and Oracle Eloqua, helping marketers to further directly tie their efforts to the bottom line. For more information on Seismic and the benefits of a sales and marketing enablement solution, visit the company’s website at https://seismic.com/solution/.
Seismic is the leading global sales and marketing enablement solution, improving close rates and delivering larger deals for sales while increasing marketing’s impact on the bottom line. Large enterprises use Seismic to increase sales productivity through the automatic distribution of relevant information and personalised content to reps for any buyer interaction. Powerful content controls and visibility into usage ensures brand integrity and reduces risk. Seismic’s machine learning and analytics capabilities continuously improves the entire enablement process for large enterprises, increasing the ROI of sales content and tying it directly to revenue. Headquartered in San Diego and with more than 350 employees across the globe, Seismic is privately held by its executive team and investment firms General Atlantic, JMI Equity, and Jackson Square Ventures.
To see how Seismic is being used by firms in your industry, visit http://www.seismic.com.