August 10, 2009 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions, today announced that it has recorded outstanding growth in the first half of 2009 posting strong bookings, exceeded revenue projections and winning significant customers.

MetricStream’s GRC business recorded a strong 76 percent revenue growth in the first half of 2009 as compared to the same time last year. The first half results were driven primarily by new customer acquisitions in the United States and Europe. MetricStream is now serving some of the world’s largest companies in life sciences & healthcare, banking & financial services, energy & utilities, retail and hi-tech manufacturing.

The robust growth in MetricStream’s business illustrates that despite the slow economy, Global 2000 corporations continue to invest in technology to improve risk management, simplify regulatory compliance, streamline internal auditing and enhance policy enforcement programs. Due to increasing inter-relations between different aspects of risk and compliance, the need for an integrated and federated architecture that can address enterprise-wide requirements has become more acute.

The recession, failure of governance, increasing regulations globally and consolidation trends have all come together to accelerate the focus of large corporations on Enterprise and Operational Risk, Regulatory and Financial Compliance, Policy Management, Operational and Internal Audit, Quality Management and Supplier Performance.

”Customers are not just evaluating application functionality any more. Technology and architecture are playing a critical role, giving MetricStream tremendous advantage in the marketplace,” says Shellye Archambeau, CEO of MetricStream. “We are pleased with our performance in the first half of 2009. Our strong focus on ensuring that customers quickly realize value from our applications as well as assuring long-term success continues to be a key differentiator and an important driving factor in our success.”

MetricStream’s first half 2009 highlights include:

  • Strong new business bookings with 76 percent revenue growth versus the same period last year
  • Added new customers in energy & utilities, banking & financial services, insurance, hi-tech manufacturing, life sciences & healthcare and food & beverage industries
  • Expanded Global 2000 customer base across North America, Europe and the Middle East
  • Continued investment in GRC platform and solutions driven by depth and breadth of deployments
  • Executed several successful engagements establishing thought leadership in association with organizations such as The Institute of Internal Auditors (IIA), Standard & Poor’s (S&P), Society of Corporate Compliance & Ethics (SCCE), Professional Risk Managers' International Association (PRMIA), Open Compliance & Ethics Group (OCEG), Silicon Valley Leadership Group (SVLG) and Horasis, The Global Visions Community 
  • Positioned as a 'Leader' in report The Forrester Wave™: Enterprise Governance, Risk, And Compliance Platforms, Q3 2009 that highlighted MetricStream’s strength of audit management capabilities and its strong value proposition for compliance
  • Continued to enhance ComplianceOnline.com as a premier destination for content, training, and advisory services dedicated to regulatory compliance, IT governance, corporate risk and quality management serving two million users

“In the remainder of the year, we will continue to invest in our platform, content, community and our people to deliver innovative solutions,” said Gaurav Kapoor, CFO and General Manager at MetricStream. “MetricStream is well positioned to help customers effectively manage the GRC challenges of the current economic environment and to significantly extend our leadership position in marketplace.”

About MetricStream

MetricStream, the independent market leader in enterprise and cloud applications for Governance, Risk, Compliance (GRC) and Quality Management, makes GRC simple. MetricStream apps improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and R&D center in Bangalore, India, and sales and operations support in 12 other cities globally. (www.metricstream.com).

Press contacts

Molly Palm : pr@metricstream.com | (925) 451-1468

Download the online press kit

Request a demo Download RFP Template Pricing Contact