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[b]Salt Lake City, UT (March 26, 2014) — [/b]Elastic Path Software Inc. today announced that it has reached several key milestones to enable the customer-focused real-time enterprise, including rapidly expanding its partner program, posting strong sales growth, product development breakthroughs, and a dramatic rise in inquires received by leading industry analysts asking about the Elastic Path experience-driven commerce solution. “Elastic Path is definitely headed for a great year and our future is exceptionally bright,” said Harry Chemko, Chief Executive Officer, Elastic Path. “Our partner-friendly product strategy is attracting significant attention from new partners, analysts, and customers as we out-innovate other ecommerce vendors.” [b]Partner program expands in North America and Europe[/b] In just a few short months, Elastic Path has made significant progress in expanding its partnership program around the world. In January 2014, Elastic Path added 4 new full-time executives to its internal partner relationship team. Since then, Elastic Path has signed several new partnerships with marquee solution and technology partners, including:
“Elastic Path is doubling down on our partner strategy, signing new agreements and working more closely with our partners than ever before ,” said Mark Williams, Co-founder and Executive Vice President, Elastic Path. “We’re also working on a next-generation Partner Portal, which will offer expanded support and training capabilities in 2014 and beyond. We’re committed to helping our partners succeed.” Unlike other ecommerce vendors, Elastic Path is 100% focused on strategic commerce capabilities -- with no features that overlap our partners' functionality. Elastic Path's API-driven technology complements today’s enterprise-class CMS and experience management platforms by adding sophisticated monetization capabilities to every digital experience. [b]License sales double[/b] Elastic Path reported software bookings doubled year over year in 2013. Part of that growth stems from several recent wins with multi-national customers that leverage Elastic Path’s unique approach to experience-driven commerce and tight integration with Adobe Experience Manager. “Our plan is to grow our software bookings a further 63% in 2014. Right now it looks like we will do better than that,” said Gord Janzen, President and Chief Operating Officer, Elastic Path. “A big part of our success has been a renewed focus on our partner program. We’re investing heavily in our partners and that’s going to have a positive impact going forward.” Elastic Path is also on track to grow the recurring portion of its licence revenue by more than 100% this year, on top of more than 100% growth in 2013. [b]Product development enables real-time enterprise with customer-centric focus[/b] Since raising investment of $12-million in 2013 to boost R&D and software development, Elastic Path has released several significant enhancements to its experience-driven commerce platform, most notable the launch of Elastic Path Edition for Adobe® Experience Manager. Unlike other ecommerce integrations with Adobe Experience Manager, Elastic Path's patent-pending API orchestration ushers in the era of the real-time enterprise by allowing marketers to quickly leverage commerce functionality in any touchpoint with a simple drag and drop. “Elastic Path is executing on a technology vision that is nothing short of revolutionary,” said Sal Visca, Chief Technology Officer at Elastic Path. “Our API-centric platform enables a true real-time enterprise, orchestrating backend resources seamlessly through a unified API and putting the customer at the center of the experience. Continuing through 2014, our product strategy is laser focused on delivering innovative, experience-driven commerce products.” In April, Elastic Path will be releasing the next major versions of its flagship products Commerce Engine and Cortex, the Elastic Path patent-pending API technology. The new releases include all-new payment security features, API enhancements, increased performance, upgraded support for search engines, and open source versions of reference store implementation in HTML5, PhoneGap, and native Android formats, which customers will be able to download for free. [b]Flexibility through world’s best API[/b] Since early 2013, Cortex has garnered intense attention from customers and technology press, including [url=http://techcrunch.com/2013/06/14/elastic-path-raises-8m-for-commerce-everywhere-api-platform/]TechCrunch[/url], due to its ability to unify enterprise data with ecommerce in real time to create the ultimate customer experience. No other ecommerce vendor has an API technology that can match Cortex’s contextual capabilities or advanced architecture for today’s real-time enterprise. Noted industry experts, such as renowned tech journalist and Startup Liaison for Rackspace Robert Scoble, have declared Elastic Path the king of contextual commerce. “Elastic Path is the only e-commerce company we know that actually understands the concept of contextual technology,” Scoble said. Likewise, noted API evangelist [url=https://twitter.com/kinlane]Kin Lane[/url] called Cortex “sexy”, and said it represented the “future” of API technology. Industry publication CMSWire called Elastic Path [url=http://www.cmswire.com/cms/customer-experience/adobe-adds-ecommerce-option-with-elastic-path-integration-024455.php]“one to watch for”[/url] as it covered the release of Elastic Path Edition for Adobe Experience Manager, and urged its readers to visit the Elastic Path session at Adobe Summit. [b]Analyst inquires increase sharply[/b] All of this momentum hasn’t gone unnoticed. A leading industry research firm noted in its latest vendor inquiry report that client inquires about Elastic Path rose significantly in the fourth quarter of 2013 compared to the same period a year earlier, growth that outpaced that of all other major ecommerce vendors. [b]About Elastic Path[/b] Elastic Path empowers people to create value from innovative digital experiences. Our software seamlessly adds omnichannel ecommerce, subscriptions, and legacy systems connectivity to digital engagement platforms from Adobe, OpenText®, and others, enabling companies to deliver outstanding customer experiences that maximize engagement and conversion. Every year, we generate billions of dollars in digital revenue for the world’s best brands – including Google, Pearson, Symantec, Time Inc., Virgin Media, and Western Union.