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What you need to know for 01/19/2017

Transfinder sets sights on Europe

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Transfinder sets sights on Europe

Transfinder in downtown Schenectady had record-breaking revenue and sales growth in 2013 and is look
Transfinder sets sights on Europe
Transfinder CEO Tony Civitella poses for a photo at their offices on State Street in downtown Schenectady on Friday, January 17, 2014.
Photographer: Patrick Dodson

Transfinder in downtown Schenectady had record-breaking revenue and sales growth in 2013 and is looking to open an office in Europe this year.

The software company’s annual revenue increased 10 percent to more than $8 million. Transfinder also landed 157 new customers, adding to its 1,500 existing clients.

“Both our [first and fourth quarters] surpassed $1 million in sales, and we never had a $1 million quarter,” said CEO Antonio Civitella. “That really positions us well going into 2014.”

Transfinder’s software maps bus routes for school districts in the United States, Canada and the Caribbean. The technology also monitors bus driver behaviors, such as if they are speeding, to ensure children’s safety.

“Every year there is greater demand for our type of software. We don’t just eliminate bus routes; we save these school districts money,” Civitella said. “It’s also about the safety of the kids. You can keep track of what is going on with our software.”

Civitella moved his headquarters in October from Erie Boulevard into a new $7 million building on State Street. The move was fueled by the demand for more space as the company hires more staff. The company currently has 77 employees, and the new building can house as many as 125.

But Civitella is also looking to take his business beyond Schenectady and open a second office in Europe.

He said in the past schools in Europe weren’t interested in his product because students used public transportation.

“Public transportation is great, but not for a 10-year-old,” he said. “Now that’s turning. Parents don’t want their kids using public transportation.”

As Transfinder pushes into the global market, Civitella is looking to open a satellite office overseas to provide services for those clients. He said the new location could be established by the end of this year.

“If we land those global opportunities we are working on, that is going to change this company,” Civitella said.

Civitella said his dream is for Transfinder to generate $100 million a year in revenue.

“Schenectady will always be the headquarters, but for us to be at the level I am dreaming of, we are going to have offices throughout the world,” he said. “That is my ultimate goal.”

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