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Minor leaguers rack up major revenue gains

ALBUQUERQUE, N.M. — This year’s list of fast-growing technology companies with under $10 million in revenue are not yet smashing balls out of the park, but they’re hitting a steady stream of doubles and triples on their way to the major leagues.

Overall, the 17 firms that made the 2015 roster grew their combined revenue by 140 percent, from $30 million in 2010 to $72 million last year. And together they nearly doubled their workforce, from a combined total of 226 employees five years ago to 448 in 2014.

Nearly all the firms are repeat winners that report steady expansion year after year. That includes this year’s No. 1 batter, InkSoft Inc., which has now topped the list of companies with under $10 million for two years in a row.

InkSoft, which provides business software for screen printers that imprint images on clothing to fully manage their operations online, grew its revenue from just $100,000 in 2010 to $3.46 million last year. That’s a rapid rise for a company that only launched in 2009.

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“We have thousands of customers using our software products now,” said InkSoft founder, owner and CEO Scott Allen. “We’ve hired more sales, support and software development people to stay on track and remain ahead of our competition.”

InkSoft is benefitting from a broad market niche of apparel screen printers looking to take their business online, with about 250,000 such outfits in the U.S. alone.

“We’re addressing that market to allow them to attain their goals,” Allen said.

The company is also expanding into new markets, such as printing on coffee mugs, smartphone cases, mouse pads, and signs and banners. And it has partnered with some industry giants, such as Brother and Epson, which sell machines to print directly on clothing.

“We help drive more customers to them to buy printers and ink,” Allen said. “It’s a win-win-win, because we’re driving more business for them and for us while helping customers with new technology.”

The Burgos Group LLC – which manages construction, safety and facility operations at military installations – also won the No. 2 spot for the second year in a row. That company grew its revenue from $820,000 in 2010 to nearly $8 million last year. That includes a hefty 43 percent jump in revenue last year alone, up from $5.6 million in 2013.

The company increased its workforce from eight people in 2010 to 65 by last December; since then, it’s added another 20 people.

“We expect to be close to 100 employees by the end of the year,” said company President and CEO Mario Burgos. “We haven’t stopped or sat back on our laurels. We’ve got a very strong pipeline of opportunities going back five years and we keep adding to it and increasing our workload.”

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The Small Business Administration named the Burgos Group its 2015 Prime Contractor of the Year for Region VI, which includes New Mexico and five other states. The company has aggressively bid nonstop on military contracts nationwide to maintain a constant workflow.

“The trick is not to focus on just what’s in your backyard,” Burgos said. “Yes, federal budgets are contracting, but the government hasn’t stopped spending and it’s a huge market.”

Other firms reporting impressive, triple-digit growth include the cybersecurity firm RiskSense Inc. – previously Computational Analysis and Network Enterprise Solutions (CAaNES) – and Ideum, the Corrales-based maker of touchscreen computer tables and displays.

RiskSense won the No. 7 spot on the list for the second year in a row. That company reported $4.7 million in revenue in 2014, up from $1.3 million in 2010 and $3 million in 2013.

Ideum grew its revenue from $1.2 million in 2010 to $6 million last year. Its touchscreen tables and displays are now being sold in 31 countries, said CEO Jim Spadaccini.

“For a small company, we’re very global in our approach,” Spadaccini said. “We go where there’s interest and we’re gaining a lot of traction.”

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