ATLANTA, Sept. 13, 2016 /PRNewswire/ -- Purchasing Power®, one of the fastest-growing e-commerce voluntary benefit companies offering one of the leading employee purchase programs, today reported record revenue growth across the first half of 2016, increasing 19.8% over the same time period in 2015. Adjusted EBITDA grew by 13.2% compared to the same six-month time period in 2015.
Among new business gains, Purchasing Power has contracted with 24 new employer clients year-to-date, providing 200,000+ potential new customers access to the Purchasing Power platform. Total number of orders placed increased 34.2% over the same six-month time period in 2015. Additionally, the company maintained its 94% client retention rate during the first half of the year.
"Our double-digit growth to date this year proves that our employee purchase program continues to be a very popular employee benefit," said Richard Carrano, President and CEO. "With Purchasing Power, employers can offer a voluntary benefit that helps meet workers' current financial needs and manage their financial future. Employers also benefit by reducing employees' financial stress, which in turn increases productivity. At the same time, employees have a responsible, convenient way to access products and services they need through the ease of payroll deduction," he added.
Available to millions of people as a voluntary benefit at organizations with 1,000+ employees or members, Purchasing Power is offered across more than 20 industry sectors. The client list includes Fortune 500 companies, associations and government agencies. Since its inception in 2001, Purchasing Power has processed nearly $1.9 billion in sales.
About Purchasing Power, LLC
Purchasing Power, LLC, is one of the fastest-growing voluntary benefit companies in the industry, offering a leading employee purchase program for consumer products and services as well as providing financial tools and resources to improve employee financial wellness. Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies. Headquartered in Atlanta, Purchasing Power is 'Powering People to a Better Life™' through its employee purchase program, financial literacy efforts and corporate social responsibility initiatives. Purchasing Power is a Rockbridge Growth Equity, LLC Company. For more information, visit www.PurchasingPower.com.
"A Better Way to Buy" and "Powering People to a Better Life" are trademarks, and "Purchasing Power" is a registered trademark, of Purchasing Power, LLC.
Juliann Kaiser, 770.643.0615
Joe Swaney, 404.609.5630
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SOURCE Purchasing Power