JACKSONVILLE, Fla. (September 6, 2006) - Vurv (formerly Recruitmax), a global leader in technology and services for building great workforces, today announced a record second quarter with a 57% increase in recurring revenues for the quarter ended July 31st, 2006. This is the 35th consecutive quarter the company has increased revenue over the same quarter of the prior year.
During the quarter, Vurv welcomed 20 new enterprise clients including Interpublic Group, Masco Corporation, and the world´s leading online information portal. Underscoring Vurv´s global presence, it also signed several non-US based firms including Liberty Financial, the leading specialty finance group in Australia and New Zealand, the world´s premier global investment bank and one of the largest international manufacturers of food, home care and personal care products. The company also continued to strengthen its presence in the healthcare industry with the signing of Health Alliance of Cincinnati, Magellan Health Services and Hartford Healthcare Corporation.
"Hartford Healthcare conducted a rigorous selection process and chose to partner with Vurv because we believe they can best meet our needs. We've been very impressed with Vurv's responsiveness throughout the selection process and that has carried over into the early stages of implementation," stated Carol Snyder, Human Resources Consultant with Hartford.
Also during the quarter, Vurv achieved strong new category momentum with 12 enterprise licenses of talent management products, which include its Performance Management and Compensation Management applications. The company formed several new alliances during the quarter, including key relationships with Accenture, ARINSO, Google (Enterprise Professional Program) and Monster (Premier Partner) and furthered its investment in the Asia Pacific region by hiring additional staff and opening a data center in Australia to service its rapidly growing Asia-Pac customer base.
In June, Vurv welcomed Amy McGeorge as its new chief operating officer and, under her guidance, redefined and better aligned several service functions to enhance the overall customer experience. Also during the quarter, Vurv hosted hundreds of customers and industry experts from North America, Europe, Asia and Australia, at its annual user´s conference. At the event, Vurv announced a number of exciting new customer collaboration and education programs including the launch of Vurv Groups, the Vurv Lunch n´ Learn series, a Customer Executive Roundtable, u-Learning from Vurv University, and the Vurv HR Hero Awards.
"The second quarter of our fiscal year reflects the significant contributions of our team, as well as the market´s continued confidence in Vurv," stated Derek Mercer, Founder and CEO of Vurv. "We remain committed to developing the industry´s most innovative and easy-to-use product suite that provides extraordinary value to our customers. We continue to be engaged by our clients as a long-term business partner, focused on helping them unlock the creative energy, talent and passion of their people."
About Vurv Technology
It´s all about the people! At Vurv Technology, formerly Recruitmax, we believe the fusion of individual creative energy, talent and passion with the organization´s purpose, mission and values creates an unstoppable force for success. With technology for recruitment, onboarding, performance, vendor and compensation management, Vurv is revolutionizing the way top organizations around the world invest in their people to accomplish the awesome. Feel the creative energy, talent and passion at www.vurv.com.
Media Contact:
Jaime Spuhler
Vurv Technology
904.493.8851
jspuhler[at]vurv.com