Austin software company BidPrime set for growth

Dec 19, 2014
Austin American Statesman

An Austin software company has big growth plans for 2015


BidPrime, which helps businesses find government bids and contracts, has moved into new offices off South Interstate 35 in southeast Austin and plans to potentially double its staff of 14 


next year, company officials say


The company’s software allows users to find government bids and contracts from over 90,000 government agencies, including U.S. federal, state, cities, counties, and schools


Its process is automated, “scraping” such data from a variety of websites, said co-founder and operations officer Stephen Hetzel


That speed is important because bids have an average lifespan of fourteen business days, according to the company. BidPrime’s software captures data almost instantly, while other services, 


the company claims, take at least two business days to provide information to their clients


Since launching in 2009, BidPrime has grown slowly but last year saw its business shoot up


Hetzel wouldn’t disclose revenue figures, but said he went from 900 customers at the end of last year to just over 1,900


As a result, BidPrime will expand substantially this year, adding another five or six engineers, as well as sales and marketing employees. Currently the company has 14 full-time employees, 


most of whom are in Austin but with others in Seattle


At the end of 2015, Hetzel saie, the company hopes to be at a staff of 25 to 30, all consolidated in Austin


The company has competitors, who eventually might catch up to aspects of BidPrime’s technology, Hetzel said, so the company is building up its client base and data analytics tools


As for funding, BidPrime is currently self-funded, but officials will “start having discussions” about accepting outside money next year, Hetzel said


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