Colorado Governor Joins Rivet Software to Celebrate Its Exceptional Success at Job Creation

DENVER, May 11, 2011 /PRNewswire/ -- Rivet Software, a Denver-based company pioneering the future of global financial transparency, announced today that Governor Hickenlooper will attend its New Employee Welcome Event at noon on May 16. This event, to be held at Rivet's corporate headquarters, will recognize new employees and celebrate the positive impact of their success on the Colorado economy.

In the past year Rivet has become the undisputed industry leader in SEC financial reporting, with 37% market share.  Also, in that time they've hired over 250 employees in Colorado. Working alongside the Colorado Office of Economic Development and International Trade and the Arapahoe/Douglas Works! Workforce Center, recently Rivet Software was able to hire 70 new employees in two weeks. According to a recent report by the Colorado Department of Labor and Employment, Colorado unemployment is at 9.2 percent; Rivet's accomplishments are helpful for the state's economic health.

"Rivet has transformed financial communications through software and services, leading us through incredible company growth in the past year," said Matt Cheroutes, director of communications for the Colorado Office of Economic Development and International Trade. "Colorado is a national leader, attracting hundreds of new companies and thousands of new jobs to the state. Through their success and their commitment to hiring Colorado-based employees, Rivet plays a vital role in this state's ongoing success."

Rivet Software provides public companies with the ability to easily collect, analyze and communicate financial data in eXtensible Business Reporting Language (XBRL).  Over 280,000 development hours went into creating the company's proprietary software platform, Crossfire®, which is used by thousands of Fortune 500 companies to prepare and submit financial filings in XBRL as mandated by the Securities & Exchange Commissions. Rivet has garnered local and national recognition as winner of the Denver Business Journal CIO award and as a finalist for Red Herring's Top 100 companies.

"I am extremely proud of our team's accomplishments.  We've started a whole new industry, and created hundreds of high quality, high paying jobs," said Patrick Quinlan, CEO of Rivet Software. "In the past year, we've gained outstanding revenue growth, new customers and international recognition—thanks to the quality work of our extremely talented employees. By investing in our technology, processes and people, we will continue to lead this industry."

Rivet's New Employee Welcome Event will include the following:

12:00 p.m. – Welcome statement by company CEO, Patrick Quinlan
12:10 p.m. – Remarks by Governor Hickenlooper
12:20 p.m. – Media interviews and photos

The event will be held at the company's headquarters at 4340 South Monaco Street, Denver, CO 80237. For further information, please contact Stefanie Jones at 303-388-8460.

About Rivet Software

Founded in 2002 and headquartered in Denver, Rivet Software is at the forefront of standards-based business reporting and analytics. Rivet empowers companies with control over the collection, analysis, and dissemination of their internal and external financial information to help advance the transformation of business communication worldwide. This privately-owned technology company works with more Fortune 500 companies than any other XBRL vendor and emerged from Q4 of 2010 as the XBRL vendor of choice for companies in search of a cost-effective, reliable solution for SEC reporting compliance. Rivet is a member of the Colorado's Technology Association, CSIA. www.rivetsoftware.com.

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Patrick Quinlan

http://www.profnetconnect.com/patrick_quinlan

SOURCE Rivet Software