eOriginal Sees Record 228-Percent Annual Growth in Platform Use, Strengthens Position as Leader in Digital Transformation
FinTech Company Also Grows Year-Over-Year Annual Recurring Revenue (ARR) 81-Percent for Second Quarter
BALTIMORE – September 8, 2016 – eOriginal, Inc., the experts in digital transactions, today announced record-breaking growth, as customers drove a 228-percent surge in year-over-year (YoY) transaction volume being managed through the eOriginal’s eAsset® Management Platform during the second quarter. The financial technology company also saw an 81-percent increase in YoY annual recurring revenue (ARR) in the quarter.
“It is rewarding to see our customers appreciate our value and take greater advantage of the benefits of efficiency, security and transparency provided by eOriginal’s eAsset Management Platform,” said Stephen Bisbee, president and CEO of eOriginal. “As digital transformation moves along the technology lifecycle, early adopters that have discovered the benefits of efficiency, security and transparency are sharing those experiences with their peers and we are seeing that in our growing ARR.”
Several major new clients have recently selected eOriginal, including Lending Club, J.D. Byrider and Equiant. This recent growth comes in the wake of the company’s announcement in February that it nearly doubled its 2015 sales and revenue YoY goals and grew its customer base by more than 70 percent. To accommodate this growth and increasing market opportunities, eOriginal has expanded its team by 40 percent, including the addition of several key members to its leadership team.
eOriginal also announced several key partnerships this year – Payoff adopted a fully digital financial transaction management solution with eOriginal and Millennium Trust Company; eOriginal partnered with defi Solutions to streamline the digital process for auto lenders; and, Accenture Mortgage Cadence integrated with eOriginal and DocuSign to expedite the mortgage origination process.
Bisbee also noted that he expects this trajectory to continue. According to Aragon Research, a leading technology analyst firm, Digital Transaction Management (DTM) is poised to grow into a $30-billion market by 2020, with the asset management sector showing a significant rise.
eOriginal is positioned as a leader in this space with its eAsset Management Platform, which enables customers to go beyond simple electronic signature functionality to manage the entire lifecycle of a digital transaction in a fully electronic environment. The solution enables end users the control to manage their eAsset documents while securely providing access to additional authorized participants such as lenders, document custodians, investors, auditors and legal counsel.
About eOriginal, Inc.
Founded in 1996, eOriginal is the trusted expert in digital transaction management solutions, specializing in the post-execution management of financial asset documentation. eOriginal SmartSign® and eAsset® Management Services enable an end-to-end solution for fully electronic transactions that must be managed with the highest levels of security and compliance throughout their lifecycle. By treating every transaction as having assets that must be verifiably secure, legally compliant and enforceable, eOriginal provides its customers and partners with eCertainty®. For more information, please visit http://www.eoriginal.com. eOriginal®, eAsset®, eOriginal SmartSign® and eCertainty® are trademarks of eOriginal, Inc. and are registered in the United States or in other jurisdictions.