Team led by Ross Wainwright bets on expected expansion and growth
Christopher Katsarov/The Globe and Mail
“It’s really a bet on where we think this business can go under the leadership of the team Ross and the board are assembling,” Vistara managing partner Randy Garg said. “I truly believe this company is set for a pretty interesting expansion phase.”Vision Critical, which sells software used by 750 corporations including Twitter Inc., Condé Nast, LinkedIn and Toyota Motor Co. to tap “communities” of customers through digital channels for their insights, has been in turnaround mode since Mr.
The company has also been only mildly affected by the pandemic. Despite cutting more than 5 per cent of staff , Mr. Wainwright said Vision Critical has almost caught up to its precrisis revenue targets for the year and is generating break-even operating profit. While the company’s annual revenue – believed to be close to $70-million – is little changed, Mr. Wainwright said the company is on track to hit a key target for healthy subscription software companies within three years: a rate of revenue expansion plus operating profit margin that adds up to 40, known in the industry as “the rule of 40.” If it can achieve that level, he said Vision Critical will likely start acquiring companies to accelerate its growth.
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