GRAND RAPIDS, Mich., March 17, 2016 /PRNewswire/ -- Modustri, the developer of innovative field technologies for heavy equipment and the industrial Internet, has been recognized as one of the 2016 "Michigan 50 Companies to Watch," an awards program presented by Michigan Celebrates Small Business.
During the past year, Modustri has experienced triple-digit growth, secured strategic investments including an alliance with Caterpillar, attracted new talent to Michigan, quadrupled its staff and expanded its office in downtown Grand Rapids.
The Michigan 50 Companies to Watch Award, sponsored by Michigan Celebrates Small Business, honors growth-oriented businesses, like Modustri, based on market expansion, job creation, technological innovation, and community impact. Nearly 60 companies from across the state, representing a multitude of industries, will be honored at the twelfth annual Michigan Celebrates Small Business event on May 5, 2016, at the Lansing Center in downtown Lansing.
"Modustri is growing quickly, thanks to the productive and collaborative small business ecosystem we have in Michigan," said Brian Steketee, founder, and CEO of Modustri. "Our strategic alliance with Caterpillar created the need to expand quickly last year, and as our product line continues to expand past heavy equipment, we expect to double our numbers by the end of 2016."
Through its alliance with Cat®, Modustri is providing technology that helps heavy equipment fleet owners optimize performance. Modustri's HDE suite of tools has quickly become the leading and most comprehensive mobile inspection solution for measuring wear parts in the field, in many cases, reducing inspection time by up to 50 percent.
Awards presented during the Michigan 50 Companies to Watch program include, Main Street USA, Small Business Innovation, Government Contractor of the Year, Small Business Person of the Year, Small Business Exporter of the Year, and more.
To be considered for Michigan 50 Companies to Watch, companies must be privately held and headquartered in Michigan, have between six and 99 employees and generate between $750,000 to $50 million in annual revenue, or have working capital from investors or received grants in 2015.
Michigan 50 Companies to Watch is presented by Michigan Celebrates Small Business.
Founding underwriters include the Michigan Economic Development Corporation, PNC Bank, Accident Fund Insurance Company of America and Dynamic Edge, Inc.
Contributing Underwriters include Comcast Business Class, Consumers Energy, DTE Energy Foundation, Hungerford Nichols CPAs and Advisors, Edge Partners, Michigan Credit Union League & Affiliates, Rehmann, Michigan Business Network and Varnum Attorneys at Law.
Michigan Celebrates Small Business was founded by Michigan Small Business Development Center, Michigan Economic Development Corporation, U.S. Small Business Administration - Michigan, Edward Lowe Foundation, Chris Holman - Small Business Advocate, and the Small Business Association of Michigan. Information about Michigan Celebrates Small Business can be found at www.MichiganCelebrates.biz.
About Michigan Celebrates Small Business
Michigan Celebrates Small Business was launched in 2005 by the Michigan Small Business Development Center, U.S. Small Business Administration, Michigan Economic Development Corporation, Edward Lowe Foundation, Small Business Association of Michigan, and Chris Holman – Small Business Advocate. MiQuest is the Managing Partner for Michigan Celebrates Small Business. The mission is to highlight the contributions small businesses make to the state's economy. Nearly 1,000 are expected to attend this year's event. For details and to purchase tickets, visit www.michigancelebrates.biz.
Modustri is the inventor and developer of innovative, field technology products that are driven by an in-the-field user-experience approach to rapid prototype solutions. The Michigan-based company's first-to-market mobile hardware-software suite is an upgrade to previous methods of providing the heavy equipment industry with a streamlined system for measurement and data collection. Modustri's mobile and web applications bring sensor and other data inputs to an equipment management platform. For more information, visit modustri.com.