SCHENECTADY — Schenectady-based routing software company Transfinder announced its 23rd consecutive year of revenue growth.
The $18.9 million in revenue — a 13% increase over 2019 — came amid the COVID crisis and the widespread shutdown of schools, potentially a damaging situation for a company that relies on school bus fleet operators for most of its business.
But the company adapted to the situation and its clients’ needs, and grew so much that it hired 37 new employees in 2020.
Transfinder also added 131 new clients, 41% of which had previously been using a competitor’s products.
President and CEO Antonio Civitella said he expects more growth in the new year.
“We anticipate our services and solutions will be needed more than ever, which is why we are projecting to close 2021 with $22 million in revenue,” he said in a news release late last month.
The company is privately held. It does not report its profit margin.