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TheNextRound Featured in Boston Business Journal
Boston Business Journal
Westborough-based TheNextRound, which makes software for alternative investing firms, said it saw its client base grow by 26 customers in 2004 as revenue tripled.
The privately held firm, founded in 2001 and entirely self-funded to date, said it also doubled its employee count in the development and services areas last year.
“We ended the year with good financials, with high profitability and no debt,” said Andy Barrett, director of business development.
Because the company is private, it would not disclose revenue figures.
The firm sells packaged software to private equity firms, hedge funds and others, offering software that handles everything from contact databases to financial reporting requirements. Barrett said a “significant” portion of the firm's revenue comes from support and other follow-up services in addition to licensing fees.
Barrett said the company's customers range from New York and Boston to California and overseas and include many private equity firms, many of which are expanding again after the tech downturn. “We feel we have a solid outlook,” he added.
© 2005 American City Business Journals Inc.
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