Wellington Financial reported today on their blog that Vancouver’s Vision Critical – a Wellington Financial Fund III portfolio company – celebrated record profits in 2009. And CEO Angus Reid is predicting “another jump in revenue for 2010″.
In a press release earlier this week, CEO Angus Reid reported that revenue increased 50% over the previous year and forecasted an additional 50 per cent growth in revenue for 2010. Reid attributes the banner year in 2009 to the company’s unique, recession-proof balance of ground-breaking technology and outstanding research talent.
Other highlights for 2009 include hired more than 100 new employees an adding a new roster of clients, including Starbucks, MTV Networks and General Motors.
Wellington Financial provided growth and working capital financing for Vision Critica in October 2006 and again in September 2007. Telus Ventures is the only other institutional money that Vision Critical has raised.