Redwood City, California - January 23, 2008 –Nimsoft, Inc., the "Big 4" alternative for IT performance and availability monitoring solutions, today announced that the company smashed its business expectations for 2007. Total bookings for the year reached a record $29.4 million and Q4 2007 achieved a new company record at nearly $11 million.
Overall, GAAP revenue grew by 77 percent for the year and deferred revenue stood at more than $16 million at the end of 2007. The company added 139 brand new name customers during 2007, bringing the total customer count to 533 in 26 countries.
Customers include some of the leading companies in the world, such as Amway Corporation, Barclays Capital, Ladbrokes PLC and T-Systems, together with leading managed service providers, such as CDW Berbee, FusionStorm, Getronics, Novell, Rackspace Managed Hosting and Ramesys, and a large number of medium enterprise organizations such as DeKalb Medical, Foley & Lardner, Liberty Savings Bank and New Enterprise Associates.
Nimsoft President and CEO Gary Read said, "These results clearly demonstrate the amount of pent-up demand in the market for an enterprise management solution that delivers immediate and lasting value. Our customer satisfaction ratings are without parallel, and, every month more and more customers are turning to Nimsoft to replace incumbent and complex products from the large vendors such as BMC Software, CA, HP and IBM."
"We will continue to deliver solutions that are easy to implement and easy to administer, and yet are sophisticated enough and scalable enough to meet the technical and business requirements of some of the largest companies in the world. Nimsoft is particularly proud of its record of customer satisfaction as evidenced by the maintenance renewal rate of nearly 100 percent and surveys of its entire customer base showing greater than 99 percent of customers are satisfied with the solution and the company."
Other highlights for the year included:
- Secured $10.3 million in venture capital financing with JMI Equity and NorthzoneVentures; the company’s only round of external investment.
- Recognized by Inc. magazine as one of the Top 50 Fastest Growing Software Companies.
- Ranked by Information Week as excellent for its "performance, scalability, and stellar affordability" as an application performance management solution.
- Won against or replaced “Big 4” monitoring solutions in at least 60 deals in the past 18 months.
- Led the marketplace by delivering next-generation dashboards using Rich Internet Application technology to deliver dynamic, 360-degree views of their entire infrastructure.
- Was one of the first companies to offer comprehensive monitoring and reporting for virtualized infrastructure. Approximately 80 customers are already using Nimsoft to monitor their VMware environment.
- Introduced "No Touch" NimBUS, which delivers on the Nimsoft vision of offering a completely zero administration SLM solution.
- Continuously broadened and enhanced the Nimsoft solution with support for more than 100 different technologies in addition to increasing the product’s scalability.
- Sponsored a Best Practices for Managed Service Providers awards program. Winners were Alvaka Networks, CDW Berbee, Getronics, InCompass IT, SL Powers and Eurodata Systems.
- Nearly 100 Nimsoft customers attended the company’s annual conference held in the United States, making it Nimsoft’s largest and most successful ever.
About Nimsoft
Nimsoft is the premier provider of business-focused IT infrastructure monitoring solutions that customers can easily deploy and use. The company’s monitoring solution, NimBUS, is used by hundreds of companies across diverse industries to manage complex networked systems to meet service level agreement targets. Nimsoft solutions combine performance and availability monitoring, advanced SLM functionality and broad platform coverage for unprecedented ease of implementation, deployment and use.
