CounterPath was recently profiled in Business in Vancouver as one of their top five fastest growing companies in BC. While originally offering only software for end users to make calls from their computer, CounterPath has grown to 145 employees and provides complete VoIP solutions to an impressive list of big clients including Cisco, AT&T, BT, and Nortel.
The combination of a growing market for Internet telephone technology, quality products, a trio of acquisitions and a multinational clientele has added up to a 39,483% growth rate between 2003 and 2007 for CounterPath Corp.
That’s good enough to put the Vancouver telephony software maker in the No. 2 spot on Business in Vancouver’s list of the fastest growing companies in B.C.
CounterPath was a fledgling startup back in 2003 when it generated a mere $14,500 in revenue. That revenue total hit more than $5.7 million in 2007, and the company’s growth curve has continued upward since then. CounterPath reported almost $9.1 million in revenue in its 2008 fiscal year.
They have made two acquisitions in the last year: Kanata-based FirstHand Technologies and Chicago-based BridgePort Networks. CounterPath CEO Donovan Jones expects that the company will become profitable “within a 12-month time frame. Maybe 18 months”.