ATLANTA, Aug. 20, 2013 /PRNewswire/ -- Innovolt® Inc., the industry leading provider of intelligent asset management technology, today reports its year to date revenue has increased approximately 50 percent over the previous year. As the company has become deeply entrenched in four key vertical markets and seen increased demand for its solution, it has experienced substantial growth and expanded its employee base, including several senior positions.
"We've grown so rapidly due to the market's response to our technology offering and the escalating need for intelligent asset management solutions, an offering that only Innovolt can provide," says Jim Mitropoulos, CEO of Innovolt. "We know that electronic assets are ubiquitous. They are also vulnerable to a variety of predators and companies must be able to maximize their performance. Innovolt is the most important tool that a company can incorporate when it comes to guarding equipment, saving time and money and increasing brand reputation."
Innovolt's Success by the Numbers
Innovolt has experienced exponential growth across the board. Highlights include:
- Significant double-digit growth of technology deployments from Q1 Fiscal Year 2013 to Q1 Fiscal Year 2014
- Expanded market presence in four target vertical markets: office equipment, vending, parking and casinos/gaming
- Added depth to its employee base which grew 70 percent in calendar year 2012 and more than doubled since the beginning of 2013
New and Noteworthy People and Positions
During the first half of the year, Innovolt expanded its workforce and appointed several senior positions. Noteworthy new hires consist of:
- SVP and Chief Financial Officer Steve Norton, whose experience includes 13 years as an auditor at KPMG and Ernst & Young and subsequently as a senior financial executive at several high-tech companies including Manhattan Associates and Concurrent Computer Corporation
- SVP and General Counsel Matthew H. Smith, whose experience includes Intellectual Property work at King & Spalding and most recently as General Counsel at Comverge
- VP of Engineering Christine Jones, who joins Innovolt after a lengthy post at Siemens
- VP of Channel Sales Todd Baillie, whose experience running Channel Sales is being leveraged to build the recently launched "Power Up" Partner Program which is designed to give additional revenue streams to partners while enabling expansion into additional markets
- VP of Marketing Malinda Wilkinson, who most recently was VP of Marketing Programs at RedPrairie, now part of JDA Software
"Innovolt is poised for continued substantial growth during the remainder of the year. We have aligned a talented team to take our company through this next phase of growth, so we can consistently offer our customers what they need most: intelligent protection and management from environmental and power related disturbances," Mitropoulos concludes.
Innovolt® combines patented electronics protection technology with comprehensive monitoring and analytics applications to deliver the leading Intelligent Asset Management platform. Significantly reducing the cost of electronics ownership, Innovolt intelligently protects and manages the productivity and usable life of the technology that powers today's digital world. The company's proven Remote Optimization Control (ROC™) technology guards valuable electronic assets against the damaging effects of power and environmental disturbances and incorporates a cloud-based platform to give businesses the tools they need to predict, measure, and maximize equipment performance across the distributed enterprise. Innovolt has also been acknowledged as a fastest growing technology company by the Technology Association of Georgia, Atlanta Business Chronicle, American Business Awards, and Lead411 and was a finalist for Forbes list of America's Most Promising Companies in 2013. For more information, visit www.innovolt.com.