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AccuRev Reports Record Revenues in October; Software Configuration Management Leader Grows Base of Enterprise Customers, Expands into Financial Services Market

Posted on: Wednesday, 10 November 2004, 09:00 CST

AccuRev(R), Inc., developer of the first breakthrough in software configuration management (SCM) in over 20 years, today reported record revenues for October 2004, with a growth rate of 270% over last year. In October alone, half of AccuRev's new customers had teams of 50 or more developers, and almost 90% chose AccuRev Enterprise over AccuRev Professional Edition. AccuRev's revenue and license sales continue to grow in excess of 50% year-to-year.

AccuRev has demonstrated proven leadership in the embedded systems and software product development segments, supporting complex parallel development processes for companies such as Sony Computer Entertainment and Construx Software. In addition to securing more than 55 new customers over the past year, including Emptoris, SunGard Energy Systems and Xantrex Technology, AccuRev also signed several major financial services institutions, marking the company's further expansion into a strategic market that requires more process-driven, parallel development solutions.

This recent surge in new business growth builds upon AccuRev's track record of success with existing customers and history of industry accolades. Many of AccuRev's existing customers have upgraded to AccuRev 3.5, AccuRev's newest release, for its change packages and Eclipse integration functionalities. Earlier this year, AccuRev was awarded the Jolt Award for product excellence from Software Development magazine, beating out seven market-leading SCM tools including IBM/Rational ClearCase, Perforce, and BitKeeper. The company has also secured an invitation to speak at the upcoming SD Test & Performance Conference, December 7-9, 2004, in Baltimore, Maryland.

"Global 2000 companies are demanding better SCM tools and improved software development processes, and as our recent success shows, AccuRev is strengthening its position as the provider of choice," said Damon Poole, CTO and founder of AccuRev. "The growth of our customer base - and the progress we are seeing among current customers - reflects the increasing acceptance of AccuRev's breakthrough SCM solution, which enables users to efficiently handle complex development projects with ease and lower administrative overhead."

About AccuRev, Inc.

AccuRev introduced the first breakthrough in software configuration management (SCM) in over 20 years, providing the flexibility and built-in best practices that developers need to manage today's complex, parallel, and distributed software development projects. AccuRev's award-winning, stream-based architecture uniquely overcomes the inadequacies of file-based branch and label tools by providing dynamic visualization control of the development hierarchy via a highly intuitive user interface. Global enterprises including American Airlines, Construx Software, Sony Computer Entertainment and Sun Microsystems are using AccuRev to increase developer productivity and reduce administrative costs. AccuRev, Inc. is headquartered in Lexington, Massachusetts and is privately held. For more information, visit www.accurev.com.

AccuRev, TimeSafe and StreamBrowser are registered trademarks or trademarks of AccuRev, Inc. All other trademarks are the property of their respective owners.

Source: Business Wire

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