HOLMDEL, N.J., July 20, 2021 /PRNewswire/ -- WorkWave®, the premier provider of SaaS software solutions that support every stage of a service business's life cycle, today announced a 64% revenue increase year-to-date compared with the same period last year. WorkWave also experienced a net revenue retention rate of 163%, supporting WorkWave's solid growth and profitability through the second quarter of 2021 as it remains committed to empowering its customers to go beyond service by delivering a breadth of solutions that are unparalleled in their capabilities. Closing out the first half of the year, WorkWave's annual recurring revenue run rate is anticipated to arrive at $200M for the fiscal year 2021.
"The strong financial results of the first half of 2021 reinforce that the commitment we've made to help our customers think and operate differently is resonating," said David F. Giannetto, CEO of WorkWave. "WorkWave has established itself as the premier partner helping our customers build strong businesses; businesses that not only deliver a superior customer experience, but also lead their industries in growth and profitability. It demonstrates that what service companies want is a partner that feels equally responsible for their success."
While WorkWave began in joint partnership with leading service providers, it now offers the broadest and deepest portfolio of solutions in the industry, aiding its customers' success in every area of their business. WorkWave often leverages its position as the market leader to offer its customer base tangible advantages and discounts unmatched by competitors. This approach is allowing its customer base to think beyond just the service event, pushing the boundaries to think and operate beyond service to create service companies that adapt more readily to today's changing times and outpace their competitors.
"WorkWave has experienced yet another successful quarter, resulting in 84% growth in total bookings across our four core platforms, as well as Slingshot," said Jana Hey, CFO of WorkWave. "Through our strategic growth initiatives, increased partnerships, and new and improved products, our success is allowing us to continue our industry-leading level of investment back into our solutions, and into our employees, to ensure that we are delivering the most value in the industry to our customers—helping them grow their business, service their customers, and maximize their money."
WorkWave's success has allowed it to close on two exciting acquisitions that broaden its ability to both help its customers grow and expand the industries that it leads. In May, WorkWave acquired Slingshot, the market-leading provider of customer call center software combined with outsourced sales, lead, and customer response services. In June, WorkWave acquired Real Green Systems, an acquisition that joined together two of the most proven field service software solution providers and solidified WorkWave's presence across the green industry.
WorkWave has also been recently recognized by NJBIZ Best Places to Work for the ninth year, showcasing that its team is as important as its products in successfully forging strong partnerships with customers.
For nearly 40 years, WorkWave has been building best practices into its market-leading field service and last mile software solutions to allow service companies to grow their business, service their customers, and maximize their money. Its solutions empower service-oriented companies to reach their full potential through scalable, cloud-based software solutions that support every stage of a business life cycle, including marketing, sales, service delivery, customer interaction, and financial transactions. WorkWave is a trusted partner for thousands of customers across a wide variety of industries, including pest control, lawn care, cleaning, HVAC, plumbing and electrical, and last mile delivery. WorkWave's award-winning culture and solutions have been recognized in the SaaS Awards, the Cloud Awards, the American Business Awards, the NJBIZ Best Places to Work Awards, and the Stevie Awards for Great Employers. For more information, visit workwave.com.Media ContactBrittany Boyle
Sr. Manager, Strategic Communications, WorkWave
Phone: 800.762.0301 x617
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WorkWave H1 2021 Financial Results
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