“The system is intuitive and its value is clear: new hires get up to speed and are productive almost immediately.” Robin Mee President, Mee Derby View Testimonials

News Release

BULLHORN CONTINUES ACCELERATED GROWTH IN Q2 ’08 BASED ON ENTERPRISE SALES AND STRONG DEMAND FROM KEY STAFFING AND RECRUITING MARKETS 

Highlighted by 30th Consecutive Quarter of Market Leading Growth and Securing $26 Million in Funding from Highland Capital Partners and General Catalyst Partners

Boston – July 30, 2008 – Bullhorn, the global leader in On Demand, front office staffing and recruiting software, today announced it continued strong company and revenue growth during the second fiscal quarter, which ended June 30, 2008.  Bullhorn experienced its 30th consecutive quarter of market leading growth, as a result of its 79% growth in licensed revenue from the enterprise market.  In terms of new users, the company experienced a 65% year-over-year increase to 1,322 in the quarter, led by a 127% increase in sales to new enterprise customers, including the selection of Bullhorn by Apex Systems, Inc., one of the leading U.S. IT staffing firms, for use by its 750 employees in 35 offices nationwide.  Bullhorn also announced stellar growth across all key staffing and recruiting industry markets, including the engineering/design, finance/accounting, healthcare and IT markets (please see press release “Bullhorn Experiences Strong Growth in Key Staffing and Recruiting Markets”).

Compared to the same quarter in 2007, Bullhorn’s revenues increased 40%.  New customers going live and using Bullhorn during the quarter were 117 with 951 users, bringing the number of Bullhorn users worldwide to 14,000. 

"Strong, sustainable growth in the quarter, and for the first half of the year, is a testament to the strategic value that staffing and recruiting firms recognize that Bullhorn provides to help them drive growth” said Arthur Papas, CEO and co-founder of Bullhorn.  “Strong adoption across all key staffing and recruiting markets, regardless of firm size, is another indicator that Bullhorn is the only solution that addresses both sides of our customer’s revenue model – securing job orders and searches and placing candidates.  That’s a formula that works for staffing and recruiting firms in any economy.”

In June, Bullhorn completed $26 million in new financing, led by prominent venture capital firms Highland Capital Partners and General Catalyst Partners.  The funding will allow Bullhorn, which is profitable, to fuel regional market expansion, accelerate its product development plans and increase professional services and support to meet rapidly growing customer demand.  Bob Davis, a General Partner at Highland Capital Partners and former CEO and founder of Lycos, and John Simon, a Managing Director at General Catalyst Partners, have joined Bullhorn’s board of directors.

During the first quarter of 2008, Bullhorn achieved strong results, including:

• Licensed revenue from enterprise customers increased 79% during Q1 2008 versus the same period last year
• Licensed revenue from mid-sized customers increased 37% during Q1 2008 versus the same period last year
• Licensed revenue from emerging customers increased 47% during Q1 2008 versus the same period last year

In addition, Bullhorn continued to achieve industry recognition and provide staffing and recruiting software innovations and improvements to its customers:

• The Bullhorn Spring Edition delivers dramatic increases in performance with faster transaction time, as well as enhancements to Bullhorn email, instant messaging (IM) and job posting capabilities, which along with the availability of Bullhorn’s Embedded Intelligence, boost the productivity of staffing and recruiting professionals.
• Bullhorn announced a new partnership with the American Staffing Association (ASA), becoming one of only a select few corporate partners and the only staffing and recruiting software provider.
• For the third consecutive year, Bullhorn was named one of the top ten fastest growing private companies by the Boston Business Journal.
• Bullhorn was also recognized by AlwaysOn as a Northeast 100 Top Private Company.
• Bullhorn was named a finalist in the SoftwareCEO Software Innovation Awards.
• Bullhorn.com was recognized as an American Business Award finalist in the brand building and corporate information categories.
• Bullhorn processed nearly 255 million transactions and handled approximately 30 million emails per month during the quarter.

Bullhorn is the staffing and recruiting industry’s only On Demand, integrated front office solution. Comprising email, calendaring, sourcing, an applicant tracking solution, customer relationship management and job management, Bullhorn enables users to communicate and collaborate with contacts, candidates, colleagues and clients in real-time to generate, source and fill job orders, or make placements, at anytime and from anyplace. Bullhorn’s users include staffing and recruiting firms of all sizes, from a wide range of industries – including information technology, professional services, office/clerical and healthcare. The Bullhorn Blogger is the company’s online community where customers, partners, Bullhorn professionals and prospective customers share ideas and best practices to advance the productivity of the staffing and recruiting industry through the innovative use of Bullhorn’s On Demand, integrated front office staffing and recruiting software.

About Bullhorn, Inc.
Bullhorn is the global leader in On Demand, front office staffing and recruiting software, providing the only completely integrated front office solution for staffing and recruiting firms. Bullhorn enables its customers to synchronize sales and recruiting to generate, source and fill job orders in real-time, at anytime and from anyplace, at the highest rates in the industry. Delivered through software as a service, Bullhorn continually meets the evolving business needs of its customers. More than 1,000 firms and 14,000 users worldwide, including some of the largest global staffing firms, partner with Bullhorn to meet the employment demands of the global economy. For more information, visit www.bullhorn.com or call +1(888)GoLive8.

###

Bullhorn is a registered trademark of Bullhorn, Inc. All other trademarks are the property of their respective owners. Copyright © 2008 Bullhorn, Inc. All rights reserved.

Media inquiries please contact:
Joe Cordo, Bullhorn
(617) 478-9148
joe@bullhorn.com

	By integrating email, calendaring, sourcing, applicant tracking, job management and customer relationship management, Bullhorn's On Demand, integrated front office enables users to communicate and collaborate with contacts, candidates, colleagues and clients in real-time to generate, source and fill job orders, at anytime and from anyplace. Talk to an expert. Contact us now.