Started in 2014 and growing quickly, Minneapolis-based phData is a tech company whose focus is data and machine learning. PhData brings its “big data” tech expertise to customers that are not as digitally savvy. “I consider us to be the glue between traditional businesses and next-generation data and machine learning platforms,” says CEO Ryan Bosshart.
After a blip in the spring when the pandemic first hit, 2020 turned out to be a very good year for phData. As businesses everywhere started working remotely, the demand for technology ramped up. “Traditional companies were saying, ‘Is there a way that we can digitize our business?’ ” says Bosshart. “By the time midsummer came along, we started to see our pipeline really start to build up again to the point where, this fall, we were superlatively busy. … We were fully back in growth mode.” PhData posted revenue of approximately $21.5 million for 2020. The firm now has about 170 employees, including an office in India, after adding 44 people during 2020.
“We were fortunate to have found a market and a strategy that really works and is scalable,” says Bosshart. “We need to continue to scale what we’re doing today to new customers and new markets.”