Thanks for clearing this out. This is also mentioned in one of their FAQs.

The companies who are our private beta customers have been using the other company's product (and a few others in the market) for long, and they were dissatisfied. We sat down with at least 15-20 of them and figured out what was the reason. We think we have "What do you understand about this that $COMPANY does not?" figured out. And the product has been very well received.

Actually, we ourselves think we are not in competition with them, because although we are trying to solve the same problem, our approach is starkly different from theirs. So, we're prepared for that as well. :)