Wireless Matrix’s business may sound like a noble mission to some area residents — in the sense that the company’s technology can be applied toward cutting down the time people experience waiting for notoriously tardy cable providers to install service.
The Reston-based company specializes in using Global Positioning System-based technology for fleet management, helping service companies keep better track of assets and workers and run their jobs more efficiently.
GPS is helpful in this field because it can track things without assets or individuals having to be in cellular range, according to Chief Executive Officer Rich Carlson.
The company has been around since 1993, but has been focusing more on fleet management in the past few years, according to Carlson.
The focus has paid off — Wireless Matrix has been growing by more than 20 percent a year, and makes about $33 million in annual revenue, he said.
“I don’t think I’ve ever felt better about where one of my businesses is in the market,” Carlson said.
Wireless Matrix’s largest customer base has been utility companies that use its technology, but cable companies have become a recent specialty, according to Carlson. Time Warner and Cable One use its service, and the company plans to soon announce a third client in the industry.
The company recently acquired Sapias for $2.7 million, expanding its subscriber base to about 50,000 users, Carlson said.
Kathryn Weldon of Current Analysis said Wireless Matrix is distinctive among GPS-enabled application companies because it has pieced together its own network made up of carrier partners rather than just being a software developer.
It’s a market that is growing, Weldon said
“When it comes to business process mobile applications, we’re just at the tip of the iceberg.”
