August 7, 2017

ServiceSource Announces Promotion of Benjamin Jennings to Chief Revenue Officer Amidst Strong New Client Win Momentum

ServiceSource veteran and current sales leader named as CRO

New logo momentum continues with four market leaders added to client roster in Q2

DENVER--(BUSINESS WIRE)-- ServiceSource (NASDAQ: SREV), a global leader in outsourced customer success, inside sales and recurring revenue growth solutions, today announced that Benjamin Jennings, SVP of Global Sales and Solution Design, has been promoted to the newly-created Chief Revenue Officer (CRO) role. The company also announced that four industry-leading technology companies have recently engaged ServiceSource to accelerate their ability to find, convert, grow and retain their mid-market B2B customers.

"Over the course of the past year-and-a-half, Ben's leadership of a global team of senior sales executives has resulted in 17 new logo wins, including four great additions in Q2," said Christopher M. Carrington, CEO of ServiceSource. "Ben has more than 25 years of experience managing revenue growth and building high-performance sales teams. Shaped by his 14-year track record at ServiceSource, Ben knows the business intimately and has proven he is the right leader to ensure we capture the opportunity in front of us."

As CRO, Jennings will continue to develop and execute strategies to expand ServiceSource's addressable market, acquire new clients and add new solutions and growth potential to the company's installed base of partners. He will be responsible for all global go-to-market activities, inclusive of business development, outside sales and solution design.

"Since joining ServiceSource in 2003, I have been fortunate to help drive the company's growth and evolution into the innovative leader it is today," said Jennings. "Backed by a team of incredibly talented sales and solution design professionals, I am excited to play a larger role in unlocking the market potential for our comprehensive Inside Sales, Customer Success and Renewals solutions."

In addition to the CRO appointment, ServiceSource announced that Q2 2017 represented the third consecutive quarter of new client additions, with four new global engagements supporting customer growth and recurring revenue expansion for respected market leaders:

  • Inside sales, customer win-back, and quoting and sales enablement for a $2+ billion data back-up and protection provider, supported out of four global Revenue Delivery Centers;
  • Multi-year contract for integrated inside sales, customer success and renewals management for a $2+ billion cyber-security software provider, supported out of six global Revenue Delivery Centers;
  • Inside sales and customer acquisition for a multi-billion dollar finance and accounting software provider, supported out of the Denver Revenue Delivery Center; and,
  • Inside sales and customer acquisition for a multi-billion dollar business information services and marketing analytics company, supported out of the Liverpool Revenue Delivery Center.

Financial results for ServiceSource's second quarter ended June 30, 2017 will be released after market close on August 7, 2017, followed by a conference call at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).

About ServiceSource

ServiceSource (NASDAQ:SREV) is a global leader in providing outsourced, performance-based revenue growth and customer success outcomes. ServiceSource's Revenue-as-a-Service platform is designed to measurably accelerate customer ROI by helping companies to more efficiently and effectively find, convert, grow and retain their B2B customer relationships. Trusted by more than 65 global market leaders in the cloud/XaaS, software, technology hardware, medical device & diagnostic equipment and industrial IoT sectors, ServiceSource sells, manages or renews $9+ billion of revenue annually on behalf of its clients. By leveraging a robust technology suite, predictive data models and more than 3,000 revenue delivery professionals, only ServiceSource brings to market over 15 years of expertise and the ability to drive recurring revenue growth in 35 languages to more than 170 countries. To learn more, visit www.servicesource.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding our opportunity to accelerate our client's ability to find, convert, grow, and retain their customers; and our market position. These forward-looking statements are based on our current assumptions and beliefs, and involve risks and uncertainties that could cause our results to differ materially from our forward-looking statements. Those risks and uncertainties include: that the market for our solution is underdeveloped and may not grow; errors in estimates as to the service revenue we can generate for our customers; changes in market conditions that impact our ability to sell our solutions and/or generate service revenue on our customers' behalf; the possibility that our estimates of service revenue opportunity under management and other metrics may prove inaccurate; our ability to adapt our solution to changes in the market or new competition; our ability to achieve our expected benefits from international expansion; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our periodic reports and registration statements filed with the Securities and Exchange Commission, which can be obtained online at the Commission's website at http://www.sec.gov. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements.

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Trademarks

ServiceSource®, and any ServiceSource product or service names or logos above are trademarks of ServiceSource International, Inc. All other trademarks used herein belong to their respective owners.

ServiceSource
Sasha Fedunchak, 570-764-0875
sfedunchak@servicesource.com

Source: ServiceSource

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