ServiceSource Expansion Announced

Press Release from the State of Tennessee, Dec. 29, 2011:

New Jobs Created in Nashville Sales Center

NASHVILLE – Tennessee Gov. Bill Haslam, Economic and Community Development Commissioner Bill Hagerty and Nashville Mayor Karl Dean along with company officials announced today that ServiceSource® (NASDAQ: SREV), the global leader in service revenue management, is expanding its Nashville Sales Center and regional headquarters. The expansion at ServiceSource’s current downtown location will create hundreds of additional new jobs and represents a multi-million dollar investment over the next three years.

“ServiceSource’s announcement today is further confirmation that existing industries are crucial to economic development in our state and essential to helping reach our goal of becoming the No. 1 location in the Southeast for high quality jobs,” Haslam said. “I appreciate ServiceSource’s growing commitment to Tennessee resulting in more jobs and additional investment in Nashville.”

“We’ve found that existing industries are a significant source of job creation for our state, and ServiceSource’s expansion is proving this to be true once again,” Hagerty said. “In my discussions with ServiceSource leadership, it is clear that the company recognizes the attractive business climate Tennessee offers, and ServiceSource’s additional investment is a vote of confidence in our state and its citizens.”

“Nashville continues to be a great business partner, with a large pool of potential employees with the education and skills that ServiceSource requires,” Mike Smerklo, chief executive officer, ServiceSource, said. “We are excited to move forward with our plans for expansion in Tennessee.”

ServiceSource’s Nashville Sales Center opened in January 2008 and has grown substantially in just four years. The company currently employs almost 500 people in Nashville and occupies nearly 85,000 square feet of office space. The expansion will add additional square footage to the building located on 4th Ave. and Church St. in the heart of downtown Nashville. The newly created positions will include those in accounting, finance, information technology and sales. Expansion plans and hiring are slated to begin in the first quarter of 2012.

“ServiceSource has been growing in Nashville since the company arrived here and has become an integral part of the downtown business landscape,” Dean said. “ServiceSource’s expansion will add hundreds of high-quality jobs and help build our educated workforce – two essential ingredients to the vibrancy and continued growth of our city.

“We’re pleased that Middle Tennessee continues to attract high-quality, technically focused jobs,” Ralph Schulz, president and CEO, Nashville Area Chamber of Commerce, said. “It is a testament to the vibrancy of our region’s economy that an industry leader such as ServiceSource has continued to expand their operations here.”

As the pioneer and leader of the service revenue management industry, ServiceSource works to increase recurring revenue for leading hardware, software, healthcare and life sciences companies.

ServiceSource is headquartered in San Francisco and serves clients in more than 100 countries and 35 languages through its two sales centers in Denver and Nashville in the U.S. and its three sales centers abroad in Dublin, Ireland; Liverpool, United Kingdom; and Singapore.

About ServiceSource

ServiceSource is the global leader in service revenue management, partnering with technology-based companies to optimize maintenance, support and subscription revenue streams, while also improving customer relationships and loyalty. ServiceSource helps customers increase service revenue contract renewal rates, on average, by over 15 percentage points and, in some cases, up to 44 percentage points. ServiceSource delivers these results via a cloud-based solution, combining its Service Revenue Performance Suite™ of applications with dedicated service sales teams, leveraging a proprietary Service Revenue Intelligence Platform™ of transaction data, benchmarks and best practices. ServiceSource offers its service revenue management solution on a unique pay-for-performance business model that enables a success-driven, shared-risk partnership. The Company is headquartered in San Francisco, and manages service revenue performance for customers across the globe in more than 35 languages.

For more information on ServiceSource, visit http://www.servicesource.com. To connect with ServiceSource, visit us at our Power of Renewal blog or on Twitter, Facebook, LinkedIn and YouTube.

About the Tennessee Department of Economic and Community Development

The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. To find out more, go to www.tn.gov/ecd.