Forward-looking statements involve risks and uncertainties and our actual results could differ materially from those projected in our forward-looking statements. The company assumes no obligation to update the information provided during today's call to revise any forward-looking statements or to update the reasons actual results could differ materially from those anticipated in forward-looking statements.These risks and uncertainties include risks relating to our ability to attract new customers, the extent to which customers grow their revenue and renew their contracts for our solutions as well as other risk factors that could affect our results which are included in our 10-Q and other filings with the SEC. And with that I am going to turn the call over to Tom. Tom Ebling Good morning and thank you for joining today’s call. As you saw in our press release we had a strong second quarter. Subscription revenue increased 47% to $15.2 million. Again this quarter our subscription growth was driven by an increase in the number of new live customers on our platform as well as by existing customers growing their initial sites and launching new sites. As of June 30th, we have 124 live customers, which was up 59% from 78 a year ago. In addition, we also had 445 live sites, which was up 76% from 253 last year. Our significant new customer wins like Ethan Allen, Godiva, London Drugs, the Apparel Group, Crabtree & Evelyn and Finish Line increased our roster of leading brand name customers and further deepen our diversification in specific verticals and geographies. We were very pleased that they selected Demandware as their cloud based commerce solution last quarter. Later in the call, we will also discuss the Neckermann insolvency filing which happened in July. Since this is our second as a public company, I wanted to remind everyone of our strong industry tailwinds. The paradigm shift in the way consumer spend and communicate online continues to dramatically change the commerce landscape. We have a tremendous market opportunity as the $12 trillion in traditional retail spending continues to shift online. This trend is forcing retailers to change the way they do business.
To remain competitive is imperative that they keep pace with rapid technology innovation not to mention the ever changing consumer expectations. Brands are looking to connect with their consumers through mobile, tablets and through social media. They will also need to respond rapidly to the next trend or technology that emerges such as digital enabled television.With traditional on-premise software keeping up with these changing trends and latest technologies can be very daunting and extremely costly. It also takes significant time away from merchandiser’s core competency connecting and selling consumers. With our cloud based solution we not only make managing this complexity easier and less costly we also help our customers grow. We've seen increases numbers of enterprise organizations turning to the cloud this significant certainly true in our business. As you can see from of the great customers we acquired this quarter, larger retailers and brand manufacturers are embracing the cloud in our unique share success model. Many of our customers choose Demandware for similar reasons. They want to grow faster, they want to innovate faster and they want peace of mind. To know their e-commerce environment is up and running. We have proven that our state of the product sure is reliable and second quarter we achieved $99.99% average up time and have achieved 99.98% availability since the company was founded. To help customers drive their growth, we provide them with extraordinary levels of customization and empower then with best in class merchandising tools. If you look at the customization of sites like Henri Bendel or TaylorMade Golf or Giggle. You would never know that the underlying technology platform is the same. Our customers are able to provide their targeted consumers to unique brand experiences. We also empower our retailers with best in class merchandizing tools, giving them the control and flexibility over their e-commerce environment and they need help and drive growth.
Our unique SaaS platform also makes launching sites in Demandware e-commerce fast, enabling our customers to get to market quickly. As a result our existing customers are seeing dramatic GMV growth. GMW stands for Gross Merchandise Value and represents revenue through the Demandware e-commerce platform.Read the rest of this transcript for free on seekingalpha.com