Minneapolis-based Insite Software has recently grown its leadership team and its international presence in the e-commerce industry.
Now it’s eyeing additional growth.
The company—which provides business-to-business e-commerce software and international shipping services—currently employs 80 at its Minneapolis headquarters and has additional staff in Chicago and Cleveland. The privately held company saw a 40 percent increase in e-commerce software revenue over the last year and is forecasting 100-plus percent growth in 2014, Insite co-founder Brian Strojny told Twin Cities Business.
Insite plans to hire 50 new employees in the next 18 months, Strojny said. The new hires will work primarily on the research and development, dot-net, and global sales teams.
The company attributes its recent growth to its ability to place products and services on the e-commerce market quickly.
“Our time to market is exceptionally faster than other robust business-to-business solutions today,” Strojny said. “For instance, we took a multinational company live in two countries—fully integrated into their enterprise resource planning system [a business management software that uses applications]—within 90 days.”
Strojny added that the company’s fast-paced model has helped it to double its year-over-year growth in the past two years and to expand its client base in North America, Asia, and Europe.
Insite is expecting continued growth amid a larger expansion of the industry in which it operates. Citing industry analysts, the company said that the business-to-business e-commerce market—or using electronic interactions to conduct business—as a whole will exceed $550 billion by 2015.
Insite is “experiencing rapid growth in a very hot market,” Strojny said—and the growth recently led it to make additions to its leadership team.
Insite appointed Ken Holec as chairman in February; he formerly served as CEO at several companies, including St. Paul-based management software company Lawson Software, Inc.; Raleigh, North Carolina-based human resources software firm Peopleclick, Inc.; and Minnetonka-based online recruiting firm Jobs2Web.
In July, Insite promoted former Chief Revenue Officer Steve Shaffer to CEO. Prior to Insite, Shaffer served as chief operating officer and chief financial officer of Jobs2Web.
And earlier this month, Insite appointed David Ricketts senior vice president of sales. Ricketts previously served as vice president of North American sales for Switzerland-based e-commerce company Hybris, where he grew year-over-year revenue by more than 200 percent, according to Insite.
“As founders and entrepreneurs, we [co-founders Brian Strojny, Linda Taddonio, and co-owner Tom Frishberg] have identified a new board and a team of leaders who have experience delivering sustainable growth for companies of our size,” Strojny said. “More important than the growth is the culture of ‘customer success,’ which Steve and Ken bring to Insite.”