IDV Solutions, the Lansing, Michigan-based enterprise risk visualization software company, will celebrate its 10th anniversary on Wednesday, January 22, 2014. The company announced today that it has secured a second round of financing from Plymouth Ventures to fuel future expansion and growth. IDV Solutions was founded by Mark Morrison and Ian Clemens, and had its first office in Grand Ledge, Michigan. A town hall rally, employee events, and a sales conference are among the anniversary week activities that celebrate its past innovations in data visualization and launch it into 2014 and beyond.
Plymouth Ventures investment
Ann Arbor-based Plymouth Ventures has made its second investment in IDV Solutions through its Plymouth Venture Partners Fund II (PVP II). The fund invests in growth-stage companies in the Great Lakes region. This is the tenth investment overall for PVP II; IDV Solutions was the first investment for the fund in 2010. “IDV Solutions has demonstrated its market potential with year-over-year growth in licenses, revenue, and profitability. But more importantly, when you look at the caliber of customers it has signed for its Visual Command Center enterprise risk visualization software and what they are saying about it, we see a very bright future,” said Jeff Barry, Partner, Plymouth Ventures. “Plymouth Ventures’ investment today will accelerate that growth and ensure IDV Solutions’ continued market leadership position.”
Strong demand for Visual Command Center and Visual Fusion fuel record growth in 2013
IDV Solutions’ Visual Command Center physical security and risk visualization software was principal to profitability and record revenues in 2013. The privately-held firm, which does not disclose financial results, projects continued record revenue growth in 2014. “2013 was really a break-out year for IDV Solutions,” said Morrison, CEO. “Licenses for Visual Command Center increased 300% over 2012, and we were successful in adding customers in new market segments such as financial services, transportation, and defense, while deepening our already strong base in technology and telecommunications.”
“Revenue from IDV Solutions’ Visual Fusion data visualization technology platform showed strong year-over-year growth as customers continue to adopt the software to build sophisticated visualization solutions, primarily for business-to-business and government markets,” said Ian Clemens, Chief Technology Officer.
Employment and hiring continue into 2014
IDV Solutions now employs nearly 60 people, primarily at its Lansing, Michigan headquarters. In 2013 it added an Orlando, Florida research and development location, and a suburban Washington, D.C. business development office. The company projects employee head count growth to continue 2014, according to John Dougherty, Executive Vice President for Operations. “We’re actively recruiting talented and creative software developers and deployment engineers,” said Dougherty. “Maintaining our products at the top of their class, satisfying customer project requirements, and supporting our sales growth are driving that need for talent.”
IDV Solutions added five regional business development directors and sales engineers to its team in 2013. “We’ve worked very hard to expand and deepen coverage around the country this past year,” said Scott Sieracki, Executive Vice President, Global Business. “We’ll be rounding out our U.S. team of security and risk industry veterans with additional sales engineering talent in the first half of 2014, with an eye towards international expansion after that.”
Recent promotions and new hires
To position the company for continued growth and product leadership, IDV Solutions announced the promotions of four team members: Merav Nahoom to Senior Software Developer, Riyaz Prasla to Director of Research and Development, George Siegle to Director of Product Management, and Chuck Fields to Senior Director of Product Development. Software marketing pro Scott Morrison has joined IDV Solutions as Executive Vice President of Marketing. Brad Fehnel and Cristine Wick are now on board as regional business development executives, with Fehnel directing the Northeast and Wick in the West. Christie Crichton is now with the company as Quality Assurance Analyst. IDV Solutions welcomes back Jason Venema, who has returned to the company in the new role of Program Manager for Visual Command Center.
A look back, and forward
“Our next ten years are full of fresh challenges, and new opportunities,” said Morrison. “We’re very proud to be where we are. A big thanks to our great team of creative, talented professionals, our partners, customers, investment team, and community for your past and future support.”
About IDV Solutions, LLC
IDV Solutions is an operations-based data visualization software company. Its Visual Command Center enterprise risk visualization software is used in organizational functions such as security, field services, supply chain, and operations. Visual Fusion, IDV Solutions’ data visualization technology platform, empowers organizations to build solutions that accelerate insight and streamline operations. By repeatedly solving key problems for customers in the Global 2000 and government, IDV Solutions and its products have earned a reputation for innovation, speed, and the highest quality user experience. For more information, please visit http://www.idvsolutions.com/
About Plymouth Ventures
Plymouth Ventures is the manager for Plymouth Venture Partners I, Plymouth Venture Partners II, and Plymouth Venture Partners III. The company has four partners, Mark Horne, Ian Bund, Jeff Barry, and Kevin Terrasi. It is headquartered in Ann Arbor, Michigan. For more information, please visit http://www.plymouthvc.com.