SOURCE: Knovel

Knovel

February 08, 2011 08:30 ET

Knovel Doubles New Business Growth in 2010

Annual Subscription Renewal Rate Continues to Exceed 90%

NEW YORK, NY--(Marketwire - February 8, 2011) -  Knovel, the leading provider of a Web-based application integrating technical information with analytical and search tools, today announced it doubled new business revenue in 2010 and its annual subscription renewal rate continues to exceed 90 percent. Knovel's sustained year-over-year growth will fuel expansion in 2011. The company plans to hire more than 20 new employees this year.

A pioneer in the field of online, interactive publishing, Knovel celebrated its 10-year anniversary in 2010 and continues to transform the way engineers find and use technical reference information. Knovel expanded its partner ecosystem with 10 new publishing partners, added two new subject areas bringing the total offered to 25, and launched four industry essential packages enabling companies to jumpstart their use of Knovel.

As the experienced baby-boomer engineers retire, companies are challenged to replenish and nurture the next generation of engineers who must have access to the most reliable training, resources and tools. Knovel helps engineers to find answers to technical questions, build competency on a variety of subjects and reduces the time it takes to research projects by offering interactive data and a tight integration of three key elements -- validated content, optimized search and data analysis tools.

Knovel's 2010 Highlights Include:

  • Expansion of Content and Publisher Base: Knovel grew the content of its existing subject areas in excess of 17 percent and introduced two new subject areas. Knovel incorporated thousands of new interactive tables, graphs and equations bringing the total to nearly 70,000. Knovel continues to work with authoritative engineering societies and publishing partners, including ASM International, ASME, American Water Works Association (AWWA) and Chemical Publishing, to ensure its users -- more than 600 companies and 300 leading universities worldwide -- have access to the most trusted resources available. 
  • New Chairman to Knovel's Board of Directors: In September 2010, Richard J. Harrington, General Partner of Cue Ball Capital and the former CEO of the Thomson Corporation, now Thomson Reuters, joined Knovel's Board of Directors alongside luminaries from Technology, Publishing and Investment Industries.
  • Challenging the Next-Gen Engineer: A record number of students competed in Knovel's annual University Challenge, a competition that requires students to use Knovel's online technical references and interactive tools to correctly answer engineering questions across multiple disciplines. Knovel is also a team sponsor of the Department of Energy's Solar Decathlon. These programs foster competition and provide students with enhanced training, hands-on learning experiences and problem-solving skills.
  •  Industry Recognition: In January 2010, Knovel was identified by its peers as the Best Online Science or Technology Service at SIIA's 2010 CODiE Awards. In April 2010, Knovel Math was selected as a Best Product Finalist in the 2010 Golden Mousetrap Awards. The Company was also named a finalist in the 2010 American Business Awards and was also recognized in the 2010-2011 EContent 100 Company's list for the fifth time since 2003.

"We are extremely proud to have doubled our new business growth in 2010 in an economy that remains sluggish, and we are excited for growth on the horizon in 2011 that necessitates personnel expansion," said Chris Forbes, CEO and president, Knovel. "We continue to align our offering with how engineers access information, and we remain laser-focused on providing robust content and functionality for engineers. We listen carefully to our customers' feedback to ensure that the content and tools we offer foster innovation in the engineering community."

About Knovel
Knovel is a Web-based application integrating technical information with analytical and search tools to drive innovation and deliver answers engineers can trust. Knovel users include thousands of engineers and applied scientists worldwide. Knovel has more than 600 customers worldwide including 73 of the Fortune 500 companies and more than 300 leading universities. Founded in 2000, Knovel is a private company headquartered in New York City. For more information, visit www.knovel.com or call (866) 240-8174.

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