Augusta Systems Named to Inc. Magazine's List of 500 Fastest Growing Companiesposted - AUG 23, 2007
NEW YORK, August 23, 2007 – Inc. magazine today ranked Augusta Systems as No. 477 on its 26th annual Inc. 500 list of the fastest-growing private companies in the U.S.
“If you want to find out which companies are going to change the world, look at the Inc. 500,” said Inc. Editor Jane Berentson. “These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can’t live without. The Inc. 500 list is Inc. magazine’s tribute to American business ingenuity and ambition.”
Augusta Systems technologies power distributed, intelligent networks. The technologies extend enterprise networks by enabling rapid integration, intelligent processing and enterprise utilization of data from sensors, actuators and other edge systems and devices. Augusta Systems products enable the most efficient and effective convergence and use of data from edge systems and devices for numerous applications, including security, monitoring, automation and asset tracking, among others.
"It is an honor to be included in the Inc. 500,” said Patrick Esposito, president and chief operating officer of Augusta Systems Inc. “This prestigious honor is a testament to our hard work and dedication to building a successful software company that provides innovative, breakthrough technologies to our clients. We look forward to even more success and growth in the coming years.”
In addition to its Morgantown, WV, headquarters, Augusta Systems has a research office in the South Dakota Technology Business Center in Sioux Falls. The company has received venture capital investment from PrairieGold Venture Partners, a Sioux Falls-based venture capital firm that invests in early stage businesses in life sciences, information technology and greentech, primarily in the Midwest.
“This is an exciting time for Augusta Systems,” said Paul Batcheller, a partner at PrairieGold. “With this honor from Inc. magazine, they are ranked among the fastest growing small businesses in America. As investors in Augusta Systems, we are pleased to see such growth and success. This is a great honor for the company and for the communities in which they operate, including Sioux Falls.”
Augusta Systems was founded in 2001 and began operations in 2002. In 2006, Augusta Systems generated revenue of $3.4 million with a three-year sales growth of 620.4 percent. The company is expected to more than double its revenue in 2007. As of the end of 2006 (the period for the Inc. 500 ranking), the Augusta Systems team included 20 professionals. During 2007, the company has now grown to a team of 25.
The 2007 Inc. 500, as revealed in the September issue of Inc. magazine (on newsstands August 28 – October 2), reported aggregate revenue of $16 billion and median three-year growth of 939 percent. Most important, the 2007 Inc. 500 companies were engines of job growth, having created more than 64,064 jobs since those companies were founded.
Complete information on this year’s Inc. 500, including company profiles and a list of the fastest-growing companies that can be sorted by industry and region can be found at www.inc.com/inc5000.
The 2007 Inc. 500 list measures revenue growth from 2003 through 2006. To qualify, companies had to be U.S.-based and privately held, independent – not subsidiaries or divisions of other companies – as of December 31, 2006, and have had at least $200,000 in revenue in 2003, and $2 million in 2006.
About Inc. magazine:
Founded in 1979 and acquired in 2005 by Mansueto Ventures, LLC., Inc. magazine (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 681,421, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.
About Augusta Systems:
Augusta Systems Inc. (www.augustasystems.com) technologies power distributed intelligent networks. The technologies extend enterprise networks by enabling rapid integration, intelligent processing and enterprise utilization of data from sensors, actuators and other edge systems and devices. Augusta Systems® products enable the most efficient and effective convergence and use of data from edge systems and devices for numerous applications, including security, monitoring, automation, and asset tracking among others.
The company's core products are SensorBridge™, EdgeFrontier™, and SensorPort™. SensorBridge is a suite of software components for Microsoft Visual Studio 2005 for building and managing intelligent networks, systems and applications featuring data from edge assets within an integrated development environment. EdgeFrontier provides an extensible edge application server and enterprise service bus for distributed, intelligent networks. SensorPort is a reconfigurable network appliance for distributed, intelligent processing at the edge of the network.
Augusta Systems also offers its core technologies in conjunction with partner technologies to develop advanced, intelligent sensing and control products. One such product is ThreatViewer™, which provides remote monitoring capabilities for industrial, military and homeland security.
Augusta Systems technologies enable sensors, actuators, systems and devices relying on a variety of protocols and systems, including wireless sensor networks (featuring ZigBee and other protocols), RFID systems and imagery devices. The technologies support network-centric systems, IPv6, physical/IT security convergence, M2M communications and other applications. As a result, the technologies reduce the total cost of ownership for distributed intelligent edge networks and maximize enterprise return on investment for enterprise network assets.