SAN FRANCISCO--(BUSINESS WIRE)--ServiceSource®, the service revenue performance company, today announced first half 2010 results for the period ending June 30, 2010. For the first half of 2010, ServiceSource experienced year-over-year revenue growth over 40 percent and added 12 new customers worldwide. This brings the company's total customer engagements to more than 85, with the company supporting its customers in approximately 100 countries, across 30 languages. ServiceSource’s new customers and existing customer expansions from this time period include Alcatel-Lucent, Avaya, Blue Coat, CA, Maquet, NCR, NetApp, Novell, Microsoft, Pitney Bowes and VMware.

Market traction for ServiceSource continues to accelerate as more technology, healthcare and life sciences companies evaluate new ways to recognize hidden revenue streams, and as ServiceSource has invested in its global scale, technology platform and cloud applications suite.

“Our pay-for-performance model and strong customer success make it very attractive for sales executives and CFOs to partner with ServiceSource,” said Mike Smerklo, chairman and CEO of ServiceSource. “We’ve experienced tremendous momentum this year, partnering with new customers as well as from customer expansions. While new partnerships are exciting, it also feels good to generate a significant amount of revenue from customer expansions, which means our solution is delivering strong value.”

ServiceSource announced customer momentum with its Channel Sales Cloud, a SaaS application that more than 7500 of ServiceSource’s customers’ sales partners access to get up-to-date information on their performance, business pipeline, and open opportunities with critical sales information. More than 20 percent of ServiceSource customers have successfully used this application with their resellers and distributors as part of their overall ServiceSource managed services solution to maximize maintenance, support or subscription revenue renewals. In addition to the Channel Sales Cloud application, ServiceSource also provides customers with cloud applications for Business Analytics, Service Sales and eCommerce.

Other key ServiceSource accomplishments announced* in the first half of 2010 include:

• Global expansion – new offices in Singapore and Nashville, with over 1,300 employees worldwide
• Executive leadership – Ganesh Bell as executive vice president of products, Basheer Cassim as senior vice president and managing director to grow Asia-Pacific market; and the addition of Steven Cakebread to the board
• Customer momentum – new expansion contracts with GE Healthcare's Life Sciences Division, NEC Corporation of America and CA Technologies

About ServiceSource

ServiceSource partners with technology, healthcare and life sciences companies to help them maximize maintenance, support and subscription revenue while optimizing customer loyalty. ServiceSource increases contract renewal rates for clients by up to 40 points. These results are achieved via a purpose-built service revenue solution, including a suite of cloud applications and managed services leveraging a deep, proprietary knowledge base of benchmarks and best practices. ServiceSource operates using a pay-for-performance business model that enables a success-driven, shared-risk partnership. Headquartered in San Francisco, ServiceSource has over $5 billion in service revenue under management. For more information, visit www.servicesource.com.

*Accomplishments announced in 1H 2010 include contracts signed in 2009.