Powered by strong sales of its network performance management solutions, Wilmington, Delaware-based SevOne posted record revenues and growth numbers in 2011.
The company increased its total revenue by nearly 70 percent compared to 2010 as it added a record number of new customers while expanding its relationships with existing clients. In addition, SevOne increased its bookings by more than 100 percent year-over-year and boosted its total workforce by another 30 percent.
The 50 percent growth of SevOne's customer base can be attributed to the successful introduction of end-to-end 4G LTE (News - Alert), IMS and Ethernet Backhaul solutions, which helped the company add two wireless carriers, a telecommunications carrier in Europe and two North American cable companies. Various new project initiatives like IP telephony monitoring also helped the network performance management vendor sign on two financial services companies and a number of individual enterprises.
Perhaps even more impressive, SevOne did 50 percent more business with its existing customer base in 2011 than it did in the previous year. Companies like Comcast, Metro PCS, Optimum (News - Alert) Lightpath and Time Warner Cable all expanded their relationship with SevOne in 2011.
"SevOne continues to thrive in the market and we delivered strong revenue performance for the year," Mike Phelan, President and CEO of SevOne, noted in a statement. "Customers rave about our all-in-one platform that is easy to buy, deploy and expand."
"We are unique in the industry vs. our competitors that deliver their solutions via multiple products that have been built via acquisitions and therefore are hard to deploy and use, and expensive to operate," he continued. "We are very proud of our growing customer and partner base around the world, and confident in our ability to continue to deliver strong results in 2012."
SevOne's strong 2011 will leave the company's mantle rather crowded heading into 2012 and beyond. SevOne was recognized with a number of industry honors, including being listed number 2 on the Deloitte (News - Alert) Fast 50 List in the Greater Philadelphia Area and number 30 on the Deloitte Fast 500 List. The network performance management specialist also booked a place in the Inc 500 List of Fastest Growing Private Companies.
In addition, SevOne took home a host of individual awards like the 2011 CRN Emerging Technology Vendor award, PACT's Emerging Technology Company of the Year and the Wireless Backhaul Distinction Award from Mobility TechZone.
Beecher Tuttle is a TMCnet contributor. He has extensive experience writing and editing for print publications and online news websites. He has specialized in a variety of industries, including health care technology, politics and education. To read more of his articles, please visit his columnist page.
Edited by Stefanie Mosca