Mtell Ranked Number 1297 Fastest-Growing Private Company in the U.S.
SAN DIEGO (September 11, 2014) – Inc. magazine recently ranked Mtell number 1297 on the 2014 Inc. 5000 list (http://www.inc.com/profile/mtell), which acknowledges the fastest-growing private companies in the U.S. The U.S. Census Bureau reports there are approximately 6 million active enterprises within the U.S. as of 2011 (https://www.census.gov/econ/susb/).
Mtell showed a 333% three-year growth in revenue between 2010 and 2013, and was recently ranked as the number 5 fastest-growing private company in the San Diego Business Journal for 2014 (http://www.sdbj.com/supplements/Fast100-2014/).
“Our goal is to exponentially grow while maintaining a superior software product and service that revolutionizes maintenance,” said Mtell CEO, Paul Rahilly. “We have linked industrial manufacturing with the Internet of Things in a predictive way that prevents machine breakdowns and makes maintenance proactive. The solution ultimately improves uptime and saves our clients millions in costs associated with critical asset failures. Earning a spot on the Inc. 5000 confirms our contribution to reducing risk, increasing operational integrity, and greatly improving the bottom line of numerous manufacturing and industrial enterprises.”
The company has continued its growth pattern in 2014 by partnering with global Fortune 500 companies, and by introducing its advanced Machine Learning asset health solution to businesses that aim to improve maintenance operations and extend equipment life.
More about Inc. and the Inc. 5000 Methodology
The 2014 Inc. 5000 is ranked according to percentage revenue growth when comparing 2010 to 2013. To qualify, companies must be founded and generating revenue by March 31, 2010. Companies must be U.S.-based, privately held, for profit, and independent – not subsidiaries or divisions of other companies – as of December 31, 2013. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for qualification in 2010 is $100,000 and for 2013 a minimum of $2 million. Inc. also reserves the right to decline applicants for subjective reasons. The full listing of the Inc. 5000 can be found at http://www.inc.com/5000.
Founded in 2006, Mtell is a privately held company that creates software solution products for managing the health of industrial equipment. Making machines smart, Mtell plays an important role in developing the Industrial Internet of Things. In addition to reducing risk to people safety and the environment, Mtell is a significant contributor to equipment performance and profitability. Solutions are deployed globally in the oil and gas, mining, pharmaceutical, and wastewater industries. For more information, visit us online at www.mtell.com.