Double-digit revenue growth, merger, growing leadership team, and additional funding drive Harmony’s top tier performance in 2007
RESTON, VA – March 24, 2008 – Harmony Information Systems, Inc. (Harmony), the industry leading provider of software solutions and consulting services for the human services sector, today announced that 2007 was a record-breaking year for the company. The company’s strategic merger with Synergy Information Technology (Synergy), additions to the executive management team and board of directors, Series B funding, and revenue growth fueled its outstanding performance, laying the foundation for expansion in 2008.
During 2007, Harmony grew revenue and net new bookings organically by eighty-one and sixty-four percent, respectively, year-over-year. The company grew its team by over 100%. In addition, Harmony improved customer retention and boosted customer satisfaction levels.
In October, Harmony merged with Synergy, the market leader in the Aging market, to become the leading provider of human services software solutions offering both on-demand and on-premise models. The merger ensures that hundreds of Harmony customers-across multiple provider levels and program areas-have access to the technology and domain expertise they need to maximize client outcomes and meet the performance expectations of their funding sources.
The strong momentum in the company prompted SmartCEO Magazine, a regional business publication read by over 34,000 business owners, to select Harmony as a SmartCEO Future 50 winner, citing the company as one of the fifty fastest growing companies in the Mid-Atlantic region. Tonya J. Harmon also received a SmartCEO Bravo! award for her accomplishments serving as founder and CEO of Harmony for the past ten years.
On the leadership front, Harmony added four new executives including: Senior Vice President of Operations, Patricia T. Boggs; Chief Technology Officer, Derrick D. Cobey; Vice President of Finance, Steve Renkes; and Vice President of Marketing, Andre Kearns.
Harmony’s board of directors also grew as Tommy Thompson, the former Secretary of U.S. Department of Health and Human Services, and John Burton, the Managing General Partner of Updata Partners, were elected to the board following Harmony’s successful Series B round of financing of over $20 million.
In August, the Massachusetts Executive Office of Elder Affairs-a customer of Harmony (formerly Synergy’s) Aging Suite-was awarded the Manuel Carballo Governor’s Award for Excellence in Public Service. The implementation team from Harmony was recognized for excellence in managing this important project.
Tonya J. Harmon, President and CEO, Harmony Information Systems, Inc. “We are pleased with the growth Harmony experienced during the 2007 fiscal year. The company’s success is rooted in the connection our employees have with our customers and prospects, enabling us to build market-leading, best-in-class software solutions that ultimately help improve the lives of clients in our communities. In 2007, we built a foundation for Harmony to expand its products and consulting services across program areas and provider levels, and we look forward to taking the company to the next level in 2008.”
About Harmony Information Systems, Inc.
Harmony Information Systems Inc. is the leading provider of integrated case and financial management solutions for the human services profession. Harmony’s flexible, web-based case and financial management solutions are designed for organizations- public and private – that administer a broad array of programs and services. Harmony’s enterprise approach automates and simplifies case management and financial management processes and creates a centralized, comprehensive client view, resulting in improved client outcomes, more efficient service delivery and compliance with key funding guidelines and requirements. For more information visit www.harmonyis.com.