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EX-10.1 - EMPLOYMENT AGREEMENT - SharpSpring, Inc. | shsp_ex101.htm |
8-K - CURRENT REPORT - SharpSpring, Inc. | shsp_8k.htm |
Exhibit 99.1
SharpSpring Announces New Customer Wins, Updates Management Team,
and Wins Awards
Company Announces Executive Management Update and Chief Financial
Officer Transition Plan
GAINESVILLE, FL – July 21, 2020 – SharpSpring,
Inc. (NASDAQ: SHSP),
a leading cloud-based marketing automation platform, reported
select preliminary financial results for the second quarter ended
June 30, 2020.
Second Quarter 2020 New Customer Wins, Additions to Management
Team, and Awards
●
Added 276 new
SharpSpring customers, of which approximately 80% were agency
customers, who selected the platform to generate leads, convert
more leads to sales and measure the ROI of their marketing
campaigns. New customer additions are expected to generate
approximately $2.2 million over the next year in annual recurring
revenue (ARR).
●
Average ARR per
customer acquired in second quarter 2020 improved approximately 10%
compared to the second quarter of 2019 as a result of landing
larger customers.
●
Further
strengthened the management team by adding former Salesforce
Marketing Cloud executive and Software-as-a-Service (SaaS) industry
veteran Chip House as the Company’s Chief Marketing Officer
(CMO).
●
Recognized by two
of the leading software review platforms, earning placement as a
2020 Best Software
Award winner on G2 and a Top Rated Marketing Automation
Software for 2020 on TrustRadius.
Chief Financial Officer Transition
SharpSpring
also announced today that Chief Financial Officer Michael Power
will step down from his current position effective July
20th.
Power was facing personal and family related reasons indirectly
associated with the ongoing COVID-19 pandemic. Power’s
departure was not the result of any disagreement with the Company
nor any issue related to the Company’s financial statements
or accounting practices.
SharpSpring’s
Controller Aaron Jackson will serve in the interim CFO role and
will continue to operate in that capacity until a new CFO has been
appointed. Jackson has been with SharpSpring since 2017. Power will
remain employed by the Company and support the transition through
August 14th at a
minimum.
With
support from the Board of Directors and other members of the
management team, SharpSpring has initiated a search process with a
nationally recognized executive search firm for a new CFO to
execute on the Company’s long-term growth plans.
Conference Call
SharpSpring
plans to report its complete financial results for the second
quarter of 2020 in August. The conference call details will be
announced prior to the call.
About SharpSpring, Inc.
SharpSpring, Inc. (NASDAQ:
SHSP) is a rapidly growing, highly-rated global provider of
affordable marketing automation delivered via a cloud-based
Software-as-a-Service (SaaS) Platform. Thousands of businesses
around the world rely on SharpSpring to generate leads, improve
conversions to sales, and drive higher returns on marketing
investments. Known for its innovation, open architecture and free
customer support, SharpSpring offers flexible monthly contracts at
a fraction of the price of competitors making it an easy choice for
growing businesses and digital marketing agencies. Learn more
at sharpspring.com.
Company Contact:
Paul
Jarrad
Senior
Director of Finance
Phone:
352-448-0967
Email:
IR@sharpspring.com
Investor Relations:
Gateway Investor Relations
Matt Glover or Tom Colton
Phone: 949-574-3860
Email:
SHSP@gatewayir.com