LAS VEGAS--(BUSINESS WIRE)--Rimini Street, Inc., a global provider of enterprise software products and services, and the leading independent support provider for Oracle and SAP products, today announced that it was named to Inc. magazine’s 36th annual Inc. 5000 list for the seventh consecutive year. 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.
Rimini Street has earned a place on the annual Inc. 5000 list since 2011, joining an elite group – approximately 2% – of Inc. 5000 honorees to ever achieve this milestone. Rimini Street experienced 167% revenue growth from 2013 to 2016, making it one of the fastest-growing private companies in the United States.
"The Inc. 5000 is the most persuasive evidence I know that the American Dream is still alive,” says Inc. President and Editor-In-Chief Eric Schurenberg. “The founders and CEOs of the Inc. 5000 tell us they think determination, risk taking, and vision were the keys to their success, and I believe them.”
Independent Software Support Provider Continues Strong Growth
Rimini Street has over 900 employees globally serving clients from more than 1,300 global Fortune 500, midmarket, public sector and other organizations across a broad spectrum of industries in 117 countries. The Company reported an annualized subscription revenue of $208 million, a 37% increase year over year, as of June 30, 2017. Q2 2017 also marked Rimini Street’s 46th consecutive quarter of sequential revenue growth since its inception in 2005.
“To be one of the rare seven-time Inc. 5000 honorees is a clear recognition of the benefits that ERP software licensees are experiencing with Rimini Street’s innovative independent support model,” said Seth Ravin, Rimini Street CEO. “An increasing number of IBM, Microsoft, Oracle and SAP licensees are realizing that they can leverage our premium-level services and save up to 90 percent on overall maintenance costs, enabling their organization to reinvest substantial savings back into strategic, value-add initiatives for their business.”
The 2017 Inc. 5000 is ranked according to percentage revenue growth when comparing 2013 to 2016. To qualify, companies must have been founded and generating revenue by March 31, 2013. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2016. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2013 is $100,000; the minimum for 2016 is $2 million.
About Rimini Street, Inc.
Rimini Street is a global provider of enterprise software products and services, and the leading independent support provider for Oracle and SAP software products. The company has redefined enterprise software support services since 2005 with an innovative, award-winning program that enables licensees of IBM, Microsoft, Oracle, SAP and other enterprise software vendors 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 1,330 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries currently rely on Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.
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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