Orlando, Florida (August 17, 2021) – IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced today that the company has expanded its client roster with two new Fortune 500 companies. IZEA has added a food and grocery wholesaler as a software customer, as well as an entertainment company as a managed services customer. IZEA will be helping both organizations scale their influencer marketing efforts through campaigns utilizing IZEAx.
“We are thrilled to add these megabrands to our roster and look forward to seeing the content that our influencers produce to promote them,” said Ted Murphy, Founder and CEO of IZEA. “We continue to see expansion of our customer base at both ends of the spectrum, serving small agencies and direct-to-consumer brands to the world’s biggest companies. We hit an all-time record for SaaS licensing customer count in Q2 and have already eclipsed that number in Q3.”
IZEA previously announced that July 2021 was the best July in company history for Managed Services bookings. Managed Services bookings for Q3 2021 to date have exceeded all of Q3 2020.
Bookings are a measure of all sales orders minus any known cancellations or refunds in the same time period with respect to such sales orders or refunds. Management uses bookings to inform expectations of total sales activity. Bookings are not always an indicator of revenue for the quarter and could be subject to future adjustment. Revenue from Managed Services bookings are typically recognized over a 9-month period on average, though larger contracts may be recognized over longer periods of time. IZEA recognizes Managed Services revenue based on a percentage of completion.