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Inc. magazine honors Rimini Street once again as one of America’s fastest-growing private companies with three-year revenue growth of 172%
LAS VEGAS, August 17, 2016 - Rimini Street, Inc., the leading global provider of independent enterprise software support services for SAP SE's (NYSE:SAP) Business Suite, BusinessObjects and HANA Database software and Oracle Corporation's (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail and Oracle Agile PLM software, today announced that it was named to Inc. magazine's 2016 Inc. 5000 list, marking the sixth consecutive year the Company has been recognized for this achievement. The Inc. 5000 list is an exclusive ranking of the nation's fastest-growing private companies and represents the most comprehensive look at America's entrepreneurs, one of the most important segments of the economy.
According to Inc. magazine, achieving a place on the Inc. 5000 list for six consecutive years puts Rimini Street in rarified company. Rimini Street experienced 172% revenue growth from 2012 to 2015, making it one of the fastest-growing private companies in the United States.
"The Inc. 5000 list stands out where it really counts," says Inc. President and Editor-In-Chief Eric Schurenberg. "It honors real achievement by a founder or a team of them. No one makes the Inc. 5000 without building something great - usually from scratch. That's one of the hardest things to do in business, as every company founder knows. But without it, free enterprise fails."
Rimini Street has nearly 800 employees globally and has signed over 1,450 clients to date. The Company reported its annual run-rate revenue approached $160 million in its fiscal second quarter ending June 30, 2016. The Company also reported 42 quarters of consecutive growth since its inception in 2005. Rimini Street supports global clients in over 90 countries, with operations in the United States, Australia, Brazil, Canada, China, Germany, Hong Kong, India, Israel, Korea and Sweden.
"Rimini Street is extremely honored to be one of the very few companies recognized by Inc. magazine for six consecutive years," said Seth Ravin, Rimini Street CEO. "Our consistently strong growth rate since the Company's inception in 2005 is a direct reflection of the global market's accelerating demand for Rimini Street's ultra-responsive, premium-level enterprise software support services. More Oracle and SAP licensees are making the switch to Rimini Street's support services, enjoying up to 90 percent savings in total support costs with no required upgrades for a minimum of 15 years. These organizations are making the astute choice to shift their ERP support to a more flexible model and, at the same time, choosing to reinvest this substantial savings into more value-added programs that drive growth and deliver competitive advantage for their business."
The 2016 Inc. 5000 is ranked according to percentage revenue growth when comparing 2012 to 2015. To qualify, companies must have been founded and generating revenue by March 31, 2012. They had to be U.S.-based, privately held, for profit, and independent - not subsidiaries or divisions of other companies - as of December 31, 2015. The minimum revenue required for 2012 is $100,000; the minimum for 2015 is $2 million.
Rimini Street is the global leader in providing independent enterprise software support services. The company has redefined enterprise support services since 2005 with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,450 global, Fortune 500, midmarket, and public sector organizations from a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com.
This press release may contain forward-looking statements. The words "believe," "may," "will," "plan," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, and are based on various assumptions. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Rimini Street assumes no obligation to update any forward-looking statements or information, which speak only as of the date of this press release.
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