EverCommerce Accelerated the Digital Transformation of the Service Economy in 2021

Rhea-AI Summary

EverCommerce (NASDAQ: EVCM) increased its global customer base by over 20% in 2021, surpassing 600,000 customers, highlighting strong demand for digital transformation in the service economy. The company also reported a 20% growth in annualized Total Payment Volume (TPV). With 77% of U.S. GDP from service businesses and only 9% utilizing software solutions, EverCommerce aims to enhance customer experience and operational efficiency for small and medium businesses (SMBs). CEO Eric Remer expects continued growth in this sector as digitization accelerates.

Positive

• Customer base increased over 20% to over 600,000.
• Annualized Total Payment Volume (TPV) grew by over 20%.
• Positioned as a leading provider for SMBs in service sectors.

Negative

• None.

EverCommerce increased its global customer base by more than 20 percent to over 600,000, underscoring demand for digital transformation solutions from home service, fitness & wellness, and health service small businesses

DENVER, Jan. 21, 2022 (GLOBE NEWSWIRE) -- EverCommerce (NASDAQ: EVCM), a leading provider of vertically-tailored SaaS solutions for the service economy, continued to advance the digitization of small and medium businesses (SMBs) that provide services across the Field Service & Home Improvement, Fitness & Wellness, and Health Services industries in 2021. From business management and billing & payments, to marketing, customer engagement and lead generation, EverCommerce’s integrated software helps SMB service providers run their day-to-day operations, engage with customers, and streamline operations. By automating and digitally transforming their operations, EverCommerce enables service professionals to focus on growing their businesses with an improved customer experience that results in higher customer retention.

In 2021, EverCommerce’s growth reflected the acceleration of the digital transformation within the service economy. As a leading provider within its verticals, EverCommerce ended the year with more than 600,000 customers, representing a greater than 20 percent increase year-over-year. The company also saw its annualized Total Payment Volume (TPV) increase by more than 20 percent as customers increasingly desire embedded billing and payments capabilities within their business management software to improve customer experience and business efficiency.

“As the world rapidly evolves to a new normal, more and more SMBs are focused on digitizing their businesses, and EverCommerce provides the software and solutions that enables this evolution,” said Eric Remer, Chairman and CEO of EverCommerce. “While we are pleased with the progress made in 2021, we are only at the beginning of what I expect to be a multi-decade trend in the advancement of the service economy.”

Service businesses are the backbone of the economy, accounting for approximately 77 percent of U.S. GDP, while small and medium businesses account for more than 40 percent and over 50 million people in the U.S. are employed by service SMBs. At the same time, only nine percent of these businesses are penetrated with software to transform and modernize their operations. EverCommerce is focused on transforming the end-to-end experience for these businesses and allowing them to digitally transform daily operations, modernize marketing and enhance customer engagement.

To learn more about EverCommerce, visit its website at https://www.evercommerce.com/

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release may be forward-looking statements. Statements including our expectations for future growth of the service economy and the Company’s strategy to support SMBs are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ''may,'' ''will,'' ''should,'' ''expects,'' ''plans,'' ''anticipates,'' ''could,'' ''intends,'' ''targets,'' ''projects,'' ''contemplates,'' ''believes,'' ''estimates,'' ''predicts,'' ''potential'' or ''continue'' or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise.

Investor Contact
Brad Korch
SVP and Head of Investor Relations
720-796-7664
bkorch@evercommerce.com

Media Contact
Meagan Dorsch
VP of Communications
303-915-0823
mdorsch@evercommerce.com

FAQ

What is EverCommerce's stock symbol?

EverCommerce's stock symbol is EVCM.

How many customers does EverCommerce have?

EverCommerce has over 600,000 customers, representing a more than 20% increase.

What sectors does EverCommerce serve?

EverCommerce serves the Field Service & Home Improvement, Fitness & Wellness, and Health Services sectors.

What growth did EverCommerce experience in 2021?

In 2021, EverCommerce saw over a 20% increase in both its customer base and annualized Total Payment Volume.

What percentage of U.S. GDP is accounted for by service businesses?

Service businesses account for approximately 77% of U.S. GDP.