SCHENECTADY, N.Y. and AUSTIN, Texas — Transfinder closed 2019 with $16.75 million in revenue, up 15% from 2018, according to the company.
Transfinder reported in a news release that the increase in revenue marked its 22nd consecutive year of sustained revenue growth. Factors contributing to the record year included the addition of 149 new clients and an increasing number of clients turning to cloud-hosting solutions.
Today, 40% of Transfinder’s 2,000-plus clients have their data hosted on Amazon Web Services (AWS), according to the company, and 70% of all new clients have requested their data to be hosted on AWS.
“We believe this is the district’s choice as each school has its own unique needs and comfort levels,” said Antonio Civitella, Transfinder’s president and CEO. “The trend, however, is more and more districts are feeling comfortable having their data in the cloud, and we have cultivated an excellent relationship with Amazon.”
The company reported additional highlights in 2019, including:
- Being named a ‘Best Place to Work’ by the Albany Business Review.
- Announcing plans to open an Innovation Center in India 2020.
- Releasing upgrades to a variety of Transfinder products.
- Expanding its internship program.
“2019 was a very good year despite some challenging conditions,” Civitella said. “2020 will be an even better year. We are projecting a 20% revenue increase, bringing us to $20 million in 2020.”