Munetrix is starting to hit some significant numbers when it comes to revenue.
The Auburn Hills-based firm, a client of the Macomb-OU INCubator
, is running at 170-percent annual compound growth. That bump in sales comes from the 4-year-old firm's expansion of its municipal transparency software platform. It went from selling it just in Michigan to expanding into Pennsylvania and Florida. Munetrix plans to be in a dozen states by the end of next year.
"Now it's a matter of delivering and executing," says Bob Kittle, president & CEO of Munetrix
Munetrix's software platform makes local municipalities more transparent and information from them more accessible. The platform incorporates social media, web-based financial tools and database management.
Munetrix hired one new person earlier this year, expanding its staff to four people, and is in the process of hiring another one. It also received $34,000 in seed capital from the state of Michigan's Business Accelerator Fund earlier this summer. The funding will help Munetrix conduct a brand and market analysis, develop an intellectual property plan and create a detailed, investor-focused presentation to support company goals.
"It's for help taking the company to the next level and to create jobs," Kittle says.
Source: Bob Kittle, president & CEO of Munetrix
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.