talentReef Continues to Outpace Generic HCM Vendors and Announces Best Ever Results for Revenue, Bookings, Billings, and New Customer Acquisitions
Company On Track to Add 2000 Net New Customers in 2016
DENVER, CO – July 29, 2016 — talentReef, the market-leading cloud provider for Recruiting and Talent Management systems announces record Q2 results. Software revenue for the quarter was up 67% Y/Y, Sales bookings grew 54% Y/Y, Billings increased 98% Y/Y, and new Customer growth grew by four-fold Y/Y.
John Raeder, talentReef CEO states, "The HCM market is red hot and transitioning quickly from legacy HR tech software applications that are expensive and inefficient for the Service Industry.” Raeder further states, “We have the products, team, and domain expertise to deliver compelling ROI and rapid competitive advantage.”
Q2 Key Results:
- Added over 900 new client contracts and go-lives in the quarter
- Increased applications processed and new hires onboarded in the system by 123% Y/Y
- Achieved best-in-class customer acquisition metrics (LTV/CAC ratio) and surpassed 20:1 in the 1H
- Reached 100 competitive wins/displacements from PeopleMatter and continue to provide their clients a safety net during turbulent times
- Continued hiring and expanding office space (adding annualized runrate of 100+ staff) in Denver, CO
talentReef is the #1 provider for Social Recruiting and Talent Management Systems specifically built for the hourly workforce. As the market leader with more than 55,000 sites under contract, including the world's best known and best run brands, the company streamlines how fast-paced operators find, hire, train, and manage their most valuable asset—talent. The Company's mobile-optimized HR platform (Social Recruiting, ATS, Onboarding, Training and Development, Performance Management, and Analytics) is transforming the way Millennials are connecting on-demand with employers globally. Leading companies across multiple service industry verticals like Five Guys Burgers & Fries, Noodles & Company, Jack in the Box/Qdoba, Focus Brands, Einstein Bros Bagels and Caribou Coffee, Checkers/Rally's, Applebee’s, Spencer's/Spirit of Halloween, Downtown Locker Room, QuickChek, TravelCenters of America, Churchill Downs Race Track and Casinos, Weigel’s, and Marsh Grocers trust talentReef to optimize their Operational and HR functions on a daily basis.
Click here to see the full press release on Yahoo! Finance.