M2M cloud platform company recognized for 100% three-year sales growth
Foxboro, MA - (September 30, 2010) — Axeda Corporation announced today that it was named to the 2010 Inc. 5000 list. This annual list recognizes the fastest-growing private companies in America and represents the most important segment of the economy—America’s independent-minded entrepreneurs.
Axeda was given this prestigious distinction for posting three-year sales growth of 100% from 2006-2009. The company joins other household names such as 7-Eleven, Radio Flyer, and music Web site Pandora on this year’s list.
“The leaders of the companies on this year’s Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression,” said Inc. president Bob LaPointe. “The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs.”
Founded in 2000, Axeda is the leading M2M cloud platform and applications company for connected products. More than 150 major organizations, including Abbott, EMC, Diebold, and NetApp, rely on the Axeda® Platform to manage, service, and track their mission-critical assets worldwide.
Axeda’s success through the economic downturn is largely attributed to the bottom-line results that its customers have realized with its award-winning technology. Some of these results include:
• 70% reduction in product issue resolution time
• 20% increase in product availability
• 20% reduction in total service costs
• 15% increase in contract renewal rates
"Our success is directly tied to the success of our customers," said Dale Calder, president and CEO, Axeda. "Leading companies are differentiating and cementing their future success through cloud-based, value-added services delivered on our platform. They are just scratching the surface of the potential, and we look forward to the rapid innovation that we expect to see over the next few years."
About Inc. 500|5000
The 2010 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be based in the United States, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2009. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. The top 10 percent of companies on the list constitute the Inc. 500, now in its 29th year.
Axeda Corporation is connecting the world’s products. Its cloud platform and applications enable manufacturers, solution providers, and system integrators to rapidly connect, build, and manage powerful machine to machine (M2M) applications for connected products that drive new business models and revenue opportunities. More than 150 of the world’s leading enterprises, including Agilent, Diebold, and EMC, rely on Axeda’s VeriSign® Security certified solutions today. Join our developer community at:http://developer.axeda.com and learn more atwww.axeda.com.
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