News and Events

ServiceSource Continues Corporate Giving with Recent Gift to the Glide Memorial Foundation

San Francisco-Based Company Raises Over 15K for Glide Memorial

June 26, 2006: ServiceSource, a global outsource sales organization focused exclusively on increasing support and maintenance revenue for technology companies, today announced that the company's internal community philanthropic team raised nearly $16,000 for the Glide Memorial Foundation at a recent benefit. The May 25th event was held at the Red Devil Lounge in San Francisco and 100% of the proceeds went to the San Francisco-based Glide Memorial Foundation which is nationally recognized as one of the most comprehensive service providers working with the poor and homeless in the San Francisco Bay Area. Over 300 people attended the concert and monetary contributions were raised through a combination of donations including event tickets, raffle tickets, and in-kind participation from local businesses. The money raised by ServiceSource will go directly back to the Bay Area community through the Foundation to help serve the poor and disenfranchised by offering daily free meals, healthcare, family services, housing, and job training.

"We are very pleased and proud to be honored by ServiceSource and to be the chosen recipient of this generous gift," said Glide's Reverend Cecil Williams. "Glide has a great need at this time especially from individuals and community groups who could help us meet a budget of $12 million a year."

"I'm aware that companies routinely boast that their employees are their most valuable assets and here at ServiceSource, I guarantee that our priority is investing in our team by creating an environment where outstanding performers are recognized and our main concern is to retain these valuable entrepreneurial leaders by encouraging them to participate in philanthropic programs," said Mike Smerklo, President and CEO of ServiceSource. "I'm extremely impressed with the 'ServiceSource Supports SF' team's single focused objective - to make their community a better place. The team utilizes the best resources of the company - themselves - to achieve their philanthropic quarterly goals and objectives."

In early 2004, several ServiceSource employees banded together to create ServiceSource Supports SF. The team is 100% focused on giving back to the Bay Area by organizing events for to assist local not-for-profits. ServiceSource has taken major strides in fulfilling this role by participating in several community events since the inception of the program which range from; donating clothing to St. Vincent's, raising money for Hurricane Katrina victims, working with The American Red Cross and also teaming up with The San Francisco Food Bank.

"Giving not only makes you feel good about yourself and the company, it's a win-win both for the community and for individual benefit. Personally, I believe it makes for a well-rounded employee who learns about strategic corporate philanthropy, planning and budgeting and transfers these skills into everyday business sense," said Michelle Martinelli, Senior Sales Representative at ServiceSource.

"It's a testament to our culture and to the fact that we have a very entrepreneurial-minded team who strive to make their immediate community a better place and I commend them on how they've made such a positive impact on the community with each event over the past couple of years," said Ray Martinelli, Senior Vice President of Human Resources at ServiceSource.

In a related release issued at the beginning of June, ServiceSource announced an addition to the ServiceSource executive team to be responsible for ServiceSource's growth. (REFERENCE: June 6, 2006, San Francisco, CA: SERVICESOURCE HIRES FORMER MACROMEDIA, JUNIPER NETWORKS EXECUTIVE TO DRIVE WORLDWIDE HUMAN RESOURCES FUNCTION)

About Glide Foundation

For over 40 years Reverend Cecil Williams' vision has created a spiritual home for all people and has brought social justice, love, courage and leadership to the community. Since the early 1960's, Reverend Williams has built Glide Church in San Francisco's Tenderloin into an internationally known powerhouse of political resolve, tireless social service and celebratory worship. Each year, Glide helps thousands of men, women, and children confront and overcome the effects of poverty and homelessness through services that emphasize unconditional love, healing, personal empowerment and self-affirmation. Glide provides comprehensive human services to more than 2,000 individuals daily in a "one-stop-shop."

About ServiceSource

ServiceSource is dedicated solely to maximizing support and maintenance revenue for technology companies. Within the technology industry, support and services revenue totals over $135 billion worldwide, and companies typically realize only 84% of their maximum opportunity. By combining business analytics, streamlined sales processes and reporting technologies to create a complete outsource solution, ServiceSource maximizes this maintenance opportunity on behalf of its clients. Over 35 clients benefit from improved financial performance, a higher level of predictability in their annuity stream and increased visibility over reported results. The company is based in San Francisco and has four additional Service Centers in Denver, Atlanta, Houston, and Dublin, Ireland. ServiceSource is profitable, privately held and backed by Benchmark Capital. For more information on ServiceSource, visit www.servicesource.com or call 415.901.6030.

About ServiceSource Support SF

ServiceSource Support SF's mission is to integrate philanthropy and business to benefit local Bay Area non-profit organizations. ServiceSource's corporate community involvement provides monetary assistance, blood donations, food and clothing to underserved communities in the Bay Area. The group works with other organizations such as St. Vincent's, The American Red Cross, The Family Giving Tree, and the San Francisco Food Bank. The vision of ServiceSource Support SF is to us the employees of the company to improve and support the immediate surrounding communities and non-profits during times of need.