SharpSpring Achieves 70% YOY Growth In 1Q Customer Additions

SharpSpring Inc (NASDAQ: SHSP) disclosed, in a statement to the media, that it achieved 70% YOY growth in the customer additions in the first quarter. According to the company, it added a record 250 new customers.SharpSpring said that on a Q-o-Q basis, the current quarter's customer additions represented 21% growth. The company indicated that the estimated annualized recurring revenue from the new customer additions totaled $1.75 million, which was a record for it.The company's CEO, Rick Carlson, said "Q1 was another record quarter for us in signing new customers, reflecting our accelerated sales growth, as we continue to convert more digital agencies onto our easy-to-use, flexible, and cost-efficient platform". He added, "This achievement was driven, in part, by our investment in sales and marketing resources in the last few quarters, as well as the growing overall demand for marketing automation solutions that can enhance and optimize companies' marketing campaigns."SharpSpring indicated that it could add 201 customers in the United States distribution network and another 49 in its International distribution network. Shares of the company closed Tuesday's trading at $3.35.