Managed Services Bookings Grow Quarter Over Quarter and Already Exceed Q4 2019
Orlando, Florida (December 14, 2020) – IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced today that it has seen a surge of new customers in Q4 2020. The company has delivered quarter over quarter growth in new customer counts for both Managed Services and SaaS. The number of new customers for Managed Services more than doubled from Q3 to Q4, and the total number of active SaaS customers hit a record in the fourth quarter as well.
“Our managed services team continues to see positive momentum despite the various challenges associated with COVID-19,” said Ted Murphy, IZEA’s Chairman and CEO. “Not only have we delivered managed services bookings growth as compared to Q3 of this year, we have already bested our Q4 2019 managed services bookings number and we still have a few weeks remaining in the quarter.”
“Since the onset of the pandemic, Team IZEA has been working tirelessly to replace the customers that were hit hardest by COVID restrictions and overall changes in consumer behavior,” continued Murphy. “Our team has done a tremendous job identifying new opportunities and added a variety of new customers ranging from media companies to alcohol manufacturers. Halfway through December, our pipeline remains robust and we are hopeful to continue our growth inside this quarter.”
IZEA’s total SaaS customer base has already increased to reach record numbers in Q4 2020, largely driven by self-service offerings. The acquisition of new IZEAx Unity Suite customers also saw a dramatic rebound from Q3 lows, with the count of new customers added so far in Q4 2020 exceeding that of Q4 2019. We believe that the expansion of new Unity Suite customers has been positively impacted by more affordable and flexible licensing options that were first introduced toward the end of Q3.
“One of our primary goals heading into 2020 was to expand our customer base and diversify our revenue streams,” said Ted Murphy, IZEA’s Chairman and CEO. “We have been executing against a variety of initiatives on that front, from the launch of BrandGraph and Shake, to the revised pricing and go-to-market strategy for IZEAx Unity Suite. We are still in very early days of this effort, but I am pleased with the progress we have made this year in the face of extreme challenges and uncertainty. We expect to end the year with a 50% increase in monthly active customers across all lines of our business as compared to the start of the year, largely due to our self-service software offerings. I am optimistic about 2021 and our ability to continue our growth and positive momentum.”
