San Diego, CA (PRWEB) July 17, 2014
Mtell, a leading asset health software solution company, placed fifth in the San Diego Business Journal’s 2014 ranking of the top 100 fastest-growing private companies in San Diego. To be considered for the ranking, companies had to be in business since 2011 and generated revenues in excess of $200,000 that demonstrate growth from 2011 through the end of fiscal 2013.
The San Diego Business Journal hosted a special awards ceremony at Paradise Point Resort and Spa, July 10, to announce and honor the companies that made the 2014 list. As a top 10 recipient, Mtell was honored with a video showcase highlighting the company and its achievements.
“When Mtell began, I knew we were onto something big,” said Mtell CEO Paul Rahilly. “The Industrial Internet of Things was a space that hadn’t been fully developed. Mtell has filled that space by pioneering technology that predicts asset health to enable proactive maintenance action before catastrophic and costly damage occurs. The results are enhancing reliability and maintenance programs with production and machine ‘saves’ in the millions, leading to many customer success stories and rapid company growth.”
Mtell’s revenues grew 374% between 2011 and 2013, landing the company in the fifth spot of the top 100. The company plans to expand significantly over the next few years, in order to coincide with the demand from industrial organizations for software that predicts machine failure before it causes disruption, losses, safety issues or environmental incidents.
View the entire top 100 list featuring Mtell here: http://www.cbjonline.com/a3sdbj/resources/supplements/PDF/20140714_Fast100.pdf.
Founded in 2006, Mtell is a privately held company that creates software solution products for managing the health of industrial equipment. Making machines smart, Mtell plays an important role in developing the Industrial Internet of Things. In addition to reducing risk to people safety and the environment, Mtell is a significant contributor to equipment performance and profitability. Solutions are deployed globally in the oil and gas, mining, pharmaceutical, and wastewater industries. For more information, visit us online at http://www.mtell.com or email press(at)mtell(dot)com.