Providence-based Swipely, a maker of payments systems software and small business analytics and marketing tools, announced some of its growth numbers this morning, and they are quite impressive for the five-year-old company.
The $4 billion in annual sales managed by Swipely’s software tools, mainly by restaurants and small retailers, is double what that metric was in May, and four times greater than that amount of sales under management in September of last year. Additionally, the company has about 150 employees which is huge growth since at the start of 2013 when Swipely had a team of 27.
“It’s really exciting growth we’ve seen in the business,” said Swipely chief executive Angus Davis. “The growth continues to support the idea that folks are using big data to make decisions.”
“When you are growing at this pace, that confirms that businesses want what we are selling them,” he added.
In addition to releasing the growth numbers, Swipely also announced two new key hires. Chris Brubaker will be joining the company as its new vice president of marketing, and Dave Hoffman will be Swipely’s new vice president of business development.
Brubaker comes from Demandforce in California, where he helped the Intuit-owned marketing automation company manage its merchant customer base, something that will be helpful for Swipely as it expands to more merchants outside of the restaurant space and continues to develop partnerships with national and regional restaurant brands.
Prior to joining Swipely, Hoffman was at Micros which was acquired by Oracle. At Micros, Hoffman led the company’s point of sales team for restaurants, making him a perfect fit for Swipely.
As chief executive Davis said, “For both Chris and Dave, this is something they are personally passionate about: Helping small business owners succeed using technology.”
All in all, things are good for Davis and Swipely down in Providence, but the company isn’t resting on its laurels any time soon. Davis said that next year he wants to continue growing the team (many of whom live in Boston and commute to Providence), but added that with its employee numbers and sales under management, it will be “challenging to maintain that rate of growth.”
Davis also said that Swipely is working on some “groundbreaking stuff.” “We want to improve the guest experience at restaurants by rethinking the way you pay and interact with the business during dining or afterward.”
In terms of its overall growth, Davis suggested that Swipely is growing faster than any New England-based technology company at the moment. He compared Swipely’s growth to HubSpot, Kayak, and others at the same life-stage for each company, saying: “We’re growing much faster than those companies were at the same maturity level.”