Article originally published on timesunion.com.
Transfinder, the Schenectady-based transportation software company, generated record revenue of $13.67 million in 2017, an 8 percent increase over the previous year when it brought in $12.65 million in revenue.
Transfinder sells bus routing software to school districts but has been branching out into municipal and health care transportation software as it looks to diversify its customer base and keep growing.
The company has more than 2,000 school district customers, adding 184 new clients in 2017.
Typical multi-year contracts for Transfinder’s software and services can range from $19,000 to $50,000 according to a small sample of school district contracts with the company. Transfinder has about 100 local employees and offices in Austin, Texas and China.
Although Transfinder is unusual in making public its revenues (it keeps its bottom line profit figures confidential), CEO Antonio Civitella has said he believes the numbers are a tribute to his employees and are a source of civic pride to them.
Civitella said Wednesday that he unveiled the company’s results on Monday at his annual “state of the union” address he gives each year to his employees. Civitella said he spoke for four hours, with only a short break.
Civitella said he stressed keeping up the momentum at the company, which he demonstrated with the so-called “mass in motion” physics equation that take mass and multiplies it by velocity to get momentum.
The equation, which is written as M x V = P, also spells out MVP, or most valuable player, which Civitella said he called his employees this year after pulling off the 20th year of record results. Civitella said it gets harder every year to keep growing at the same speed.
“It’s a lot of work,” Civitella said.
