Privately-held companies don’t tend to release sales figures very often – at least not that I’ve seen in the digital signage ecosystem. So it was more than interesting to get a press release from Stratacache – not the noisiest of companies in this business – announcing it did in excess of $400 million in sales last year.
The Dayton, Ohio company says it did $412.5 million in new contracts closed in 2014, a 4X increase over the previous year.
CEO and sole owner (as far as I know) Chris Riegel has told me in the past he was around $100 million in sales, so this syncs up.
This represents dollars in on digital signage software, hardware, content distribution, caching and video acceleration gear – so it’s not all on software licenses. But a lot of it would be that and supporting services. A wily reader, suspicious of the Godzilla sales number, pointed out the “new contracts closed in 2014” number could mean the $400M is the three to five year contract value for deals signed last year.
Whatever the case, Riegel’s endless travelling and support of smart sales guys like Tony Wenzel clearly paid off.
“I am very proud to have led this group of amazing professionals through a year of tremendous growth” says Riegel. “Across our key industry sectors, vertical markets and regions of the world, 2014 came together with the critical mass that we all knew was possible.”
Riegel says his target is $1 billion in sales, going after Fortune 500 clients primarily.
My safe guess is that once you get outside the top 10 or so companies, Stratacache may be doing more revenue than the rest of the companies in the industry, combined.
(Riegel has a picture of Patton in his office, by the way)
Dave Haynes is the founder and editor of Sixteen:Nine, an online publication that has followed the digital signage industry for some 14 years. Dave does strategic advisory consulting work for many end-users and vendors, and also writes for many of them. He’s based near Halifax, Nova Scotia, on Canada’s east coast.