SWAT Solutions was recognized as the 19th fasting growing private company in the greater Twin Cities area over the past 3 years. This is the second award that SWAT has received from The Business Journal in the past 2 years. SWAT is growing because of the value and expertise they provide to software development organizations. The growth rate for SWAT Solutions over the past two fiscal years has been 132.3%.

Rank 19
SWAT Solutions Inc.

To be eligible for the Growth 50 list, companies must be privately held and based in the 11-county Twin Cities metro area. Eligible firms also had to have at least $1 million in revenue in the first of the three most recent fiscal years and progressive growth in the subsequent two years.

Interview with David Steingart, CEO:

How did your company raise capital to fund its growth?
SWAT's growth has been funded internally by retaining the positive cash flow in the company and increasing its working capital line of credit by its lender.

What has been the primary diver of your revenue growth?
SWAT's revenue growth can be attributed to its talented and hardworking sales team, a strengthening economy, the addition of business-analyst services and the expanded SWAT Lab.

Other than staffing, what has been your biggest business challenge in the past 12 months? What stategy(ies) have you used to offset it?
One of SWAT's biggest challenges has been to gain recognition and credibility with large organizations utilizing vendor management systems. Once we get our foot in the door, we become a valued part of the client's team, but getting in the door has been difficult. Due to positive results with existing clients and partnering with approved vendors, SWAT has been able to overcome this challenge.

Have you ever considered going public? Has your attitude toward a public offering changed in the past year?
[We] believe at this time, the costs of being a publicly held company far exceed the benefits.

What are your business plans for the coming year?
SWAT's business plan for next year includes: further investment in our sales and marketing efforts; expanding service offerings; and continuing the process necessary for geographic expansion. We also plan to be in the Fast 50 again next year.