StrikeIron Announces $5.5M in New Funding, Record Sales Growth, Expanded Hiring and New Advanced Functionality

Growth Includes Addition of New Web Services That Promote Operational Efficiency

CARY, N.C. StrikeIron, Inc., the leading provider of data-as-a-service, announced today that it has realized significant growth in spite of the challenging economy. During 2008, the company added more than 500 new customers and increased sales by nearly 300 percent. This growth coupled with the closing of a $5.5 million round of new venture funding in January has enabled StrikeIron to expand development, product management, and sales and marketing to enhance the company’s ability to meet the needs of the growing market for data-as-a-service adoption.

“Despite a tough economic environment, StrikeIron is pleased to experience growth as organizations continue to embrace Web services,” said Richard Holcomb, CEO of StrikeIron. “With today’s budget constraints, we are committed to providing our customers with powerful, valuable, and cost-effective resources so that they can make smarter choices to meet their budgetary needs.”

In addition, several new services have been added to StrikeIron’s already comprehensive catalog. These include a new service from SpeedTax that enables real-time calculation of sales tax rates based on delivery address, jurisdiction, and tax classification category. The service not only provides sales tax information but also validates and standardizes addresses. The jurisdiction mapping functionality uses rooftop mapping to provide the most precise and detailed information available and can be easily integrated into financial solutions, eCommerce shopping carts, or CRM systems. This illustrates the company’s commitment to continually leveraging value-added data sources that promote operational efficiency for organizations.

These services follow closely on the heels of the launch of LiveData for Excel earlier this year. LiveData for Excel makes connections to external or internal live data sources from within the familiar Excel environment.

About StrikeIron:

StrikeIron is the leader in providing innovative solutions for delivering data-as-a-service over the Internet. Business users, application developers and enterprise IT professionals are able to customize and integrate external data sources and additional external functionality from StrikeIron into enterprise, Web, and composite applications. The company provides a technology platform, micro-transaction management, and a consistent interface across many XML-based services from multiple and diverse sources. Currently, StrikeIron offers live data sources and business functionality from organizations such as Cortera, Gale Cengage, MapQuest, Midnight Trader, SpeedTax, and Zacks.

StrikeIron delivers value to over 1,600 customers and partners such as Avaya, BEA, Delivery.com, IBM, Honda Europe, Siemens, Nike, Swarovski, ShoeBuy, and Exclusive Resorts. For more information, visit www.strikeiron.com.

Source: StrikeIron, Inc.