Virtual Data Room Provider Firmex Announces 2010 Revenue is Up 85%

Toronto, Canada, December 16, 2010 --(PR.com)-- Firmex, a leading virtual data room provider to organizations that share large volumes of documents for corporate transactions, compliance, audits, procurement, litigation and other mission critical exchange, announced recently that Q3 2010 revenue is 85% more than the corresponding period a year ago. The Firmex customer base has also doubled year over year. Firmex momentum continues as it has achieved exponential growth each year since 2006.

Despite a sluggish economy, more organizations are subscribing to Firmex to increase productivity while exchanging critical information. These exchanges require robust document security, full auditing and reporting, with the highest level of 24/7 support and assistance.

"We are seeing an increased breadth of use beyond M&A into vendor management, board reporting, corporate governance, clinical trials and other uses that involve large volumes of highly sensitive documents and sizable numbers of participants," says Firmex CEO, Joel Lessem. "Our growth is attributable to capturing market share and an expanding market. Organizations increasingly prefer to review and distribute sensitive documents in an electronic data room environment versus email, paper or DVD. Firmex customers span a breadth of industries such as financial services, legal, life sciences, energy and technology. We continue to add customers in both established and emerging economies around the globe."

Firmex offers on-demand software with 24/7/365 support and expert advice on managing these processes. "Our users find the product easy-to-use, secure, and can always rely on top-notch customer support no matter where they are. Offering Firmex as software-as-a-service means we are more responsive to our customers, we iterate quickly and remain ahead of the market," says Elizabeth Caley, VP Product Management of Firmex. "Moreover, we offer a highly secure turnkey solution that requires no IT infrastructure. Our business users can be up and running the same day with a mission critical private-label data room."

About Firmex
Firmex provides virtual data rooms designed for law firms, investment banks, private equity firms, accountancies, life sciences organizations and corporations worldwide. Firmex technology facilitates, streamlines, and accelerates the exchange of critical information within a secure online environment. Information about Firmex can be found at Firmex.com.

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