Delaware Technology company SevOne, announced that it has been selected by Forbes for the third annual list of America’s Most Promising Companies (AMPC).
SevOne is based in the Pike Creek area west of Wilmington. Its systems monitor the performance and health of information technology systems for companies such as Comcast. The company, according to the Forbes ranking, reported sales of $40 million and 256 employees.
The honor was awarded for SevOne’s business model, rate of growth, market opportunity, margins, management team, customers, partners, and investors. On the Forbes top-100 list of privately-held, high-growth companies, SevOne ranked number 33.
“We are gratified by the recognition from Forbes and believe the award reflects the success of our unique approach to providing performance visibility into network and data center infrastructures,” said SevOne CEO Jack Sweeney. “Our patented SevOne Cluster™ Architecture, the resources we’ve dedicated to supporting scalability in performance monitoring, and the customer footprint we’ve built up across multiple industries have all contributed to our ability to serve a market that will only continue to grow. We are in an outstanding position to expand our business through 2014 and beyond.”
Since closing a $150 million funding round with Bain Capital in early 2013, the company has had three consecutive record-setting quarters. SevOne has also averaged 65 percent year-over-year growth each of the past three years, and has seen 85 percent year-over-year growth within its existing customer base. Customers include many of the world’s largest financial institutions, cable and telecom operators, software enterprises, and pharmaceutical companies.
Sweeney, a former Bain executive, joined SevOne as CEO last summer. Financing for the company has come from venture capital sources. SevOne was co-founded by Chief Technology Officer and University of Delaware graduate Vess Bakalov, who saw the need for better performance monitoring while working in the Delaware banking industry.
As announced earlier, SevOne received a key patent for its system that monitors the performance of information technology systems.
