Toronto, Ontario Canada (PressExposure) May 10, 2012 -- Firmex Inc, a leading provider of virtual data room solutions, today announced it reached and surpassed its 1,000 customer. The company milestone occurred in late December 2011. Despite the mixed economic sentiment in 2011, Firmex signed over 300 new customers and achieved 53% GAAP revenue growth. According to a recent report by IBIS Research, the industry as a whole grew 17% in the same period. "This is a significant achievement for the company," commented Joel Lessem, CEO of Firmex. "Our dedication to delivering superior service and data room technology with a pricing model that makes sense for the way our customers do business, is paying off." Firmex accelerated considerably in its 5th year of operation, signing 30% of its overall customer base.
Firmex contributes its success to superior execution in all areas of its business. Focused on financial transactions and financial compliance, Firmex virtual data rooms have document and application security designed specifically for sharing large volumes of highly confidential documents. Unlike generic cloud-based document sharing applications, Firmex caters to mission-critical processes with sensitive data that require strict controls, such as data encryption, for document access and use. "We are iterating rapidly," remarked Randy Rosenberg, Firmex CTO. "And, with each release we deliver significantly more value to our customers." Mr. Rosenberg contributes the success of the product to being customer-focused and working closely with customers to drive the product roadmap.
In fact, ecstatic customers are at the center of the Firmex execution strategy. "Delivering the best virtual data room experience is at the heart of everything we do at Firmex," revealed Robert Wilder, COO at Firmex. Firmex customers appreciate the all-inclusive 24/7/365 service, training and expert advice they receive when using their branded Firmex data room. Customer appreciation, in the form of referral business, accounts for a healthy percentage of Firmex revenue each year. "Our customers know that when they refer us to their clients," elaborated Mr. Wilder, "the client is going to receive a consistently high quality experience."
Virtual data room technology is no longer being utilized just for conducting due diligence for M&A deals. As businesses become more reliant on the internet for document sharing efficiencies, Firmex customers are recognizing the value of expanding their use of the Firmex Virtual Data Room. "Many of our customers use Firmex to support board communications, financial audits, regulatory compliance and significant procurement transactions," stated Mr. Lessem. "This proliferation of Virtual Data Room use is contributing to growth in the VDR market, and Firmex is well positioned to capitalize on this growth."
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Visit http://www.firmex.com to learn more about virtual data rooms and Firmex.