NEW BRUNSWICK, NJ -- (Marketwire) -- 01/23/13 -- Connotate, Inc., the leading provider of Web data monitoring and extraction solutions, today announced record growth in Q4 2012, adding new customer accounts in finance, health care, mobile gaming and online advertising.
"This past quarter, Connotate rapidly closed major deals with leading companies in strategic vertical markets. Clearly, our value proposition resonates with decision-makers who view scalable and reliable Web data extraction as strategic to their business," said Keith Cooper, CEO of Connotate. "In addition to onboarding new accounts, the upsell percentage within our installed base reached historic levels. Customers are embedding the Connotate solution deeper into their workflows to achieve greater operational cost savings."
Connotate signed over four times as many new customer accounts in Q4 2012 compared to Q4 2011. The use cases include extracting regulatory updates for health care claims management, aggregating consumer product reviews, online ad optimization and collecting company performance data to optimize investment portfolios.
Also during the quarter, customers using Connotate's Fetch Check application significantly expanded their deployments, increasing the total number of background checks completed in 2012 to nearly three times the amount in 2011.
"Connotate capped off a successful year with our biggest quarter ever in terms of customer acquisition, expansion of use cases and penetration into key target markets," noted Ryan Mulholland, head of sales and president of Connotate. "We've also added new channel partners and built the strongest pipeline in the company's history -- we are well-positioned for growth as we head into 2013."
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Connotate puts the power of Web data monitoring and collection into the hands of the business user. Connotate delivers the scalability, reliability and resiliency necessary to drive strategic value from dynamic, Web sources. Connotate's growing customer list includes global businesses such as McGraw-Hill, Associated Press and Thomson Reuters. Connotate has been named a KMWorld "Trend-Setting Product" for the past eight years. Connotate announced the acquisition of Fetch Technologies in March 2012. For more information, please visit http://www.connotate.com or www.connotate.co.uk.
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