DENVER — AUG. 6, 2018 — ServiceSource (NASDAQ: SREV), a global leader in outsourced inside sales, customer success and recurring revenue growth and retention solutions, today announced that Barry Reynolds has decided to retire from the Board of Directors. Reynolds led the first institutional funding for ServiceSource and has served as a member of the Board since January 2003. He departs to focus on supporting multiple portfolio companies of Housatonic Partners, the private equity investment firm where he is a Managing Director.
“Fifteen years ago, I led an investment in ServiceSource when it was a small company with a lot of potential. During that time frame, the Company has grown to become a clear market leader, while the opportunity in front of it today remains just as compelling,” said Reynolds. “I maintain my early conviction in the business, leadership team and strategy, but in light of the needs of other Housatonic investments where I serve on their boards, now is the time for me to redirect my attention and efforts.”
“As ServiceSource has grown and transformed, the Company has benefited greatly from Barry’s insight, perspective and governance oversight,” commented Bruce Dunlevie, lead independent director for ServiceSource. “The Board wishes to thank Barry for his many years of service, commitment and support to the Company.”
ServiceSource International, Inc. (NASDAQ:SREV) helps the world’s leading brands grow closer to their customers. As a global leader in outsourced inside sales, customer success and recurring revenue growth and retention solutions, ServiceSource expands customer lifetime value by helping companies to more efficiently and effectively find, convert, grow and retain their B2B customer relationships. Trusted by global market leaders in the cloud/XaaS, software, technology hardware, medical device & diagnostic equipment and industrial IoT sectors, ServiceSource sells, manages or renews $9 billion of revenue annually on behalf of its clients. Leveraging a robust technology suite, predictive data models and more than 3,000 revenue delivery professionals speaking 45 languages, only ServiceSource brings to market nearly 20 years of expertise and the ability to drive recurring revenue growth to more than 170 countries. To learn more, visit www.servicesource.com.
This press release contains forward-looking statements, including statements regarding our market position and opportunity. These forward-looking statements are based on our current assumptions and beliefs, and involve risks and uncertainties that could cause our results to differ materially from our forward-looking statements. Those risks and uncertainties include: that the market for our solution is underdeveloped and may not grow; errors in estimates as to the service revenue we can generate for our customers; changes in market conditions that impact our ability to sell our solutions and/or generate service revenue on our customers’ behalf; the possibility that our estimates of service revenue opportunity under management and other metrics may prove inaccurate; our ability to adapt our solution to changes in the market or new competition; our ability to achieve our expected benefits from international expansion; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our periodic reports and registration statements filed with the Securities and Exchange Commission, which can be obtained online at the Commission’s website at http://www.sec.gov. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements.
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