ParetoLogic is one of those success stories that starts with young entrepreneurs working out of a basement (think Bill Gates) who blast into business at an astonishing speed.
The Victoria company was named the 17th fastest-growing technology company in ÎÚÑ»´«Ã½ in the Deloitte Technology Fast 50 Awards announced this week. ParetoLogic develops security and other types of software to help PC users at home.
Five years ago, revenues were $3.9 million -- more than decent for a brand-new company operating out of Elton Pereira's Gordon Head basement. Last year, revenues reached $88.4 million.
Pereira, president and chief executive, said yesterday the company's goal is to "essentially build a global brand."
Back in the first year, ParetoLogic had four founding family members and a few additional staff.
Now it has 145 employees, two locations, a subsidiary and plans for another offshoot next year.
The company was started by Pereira, brothers Adrian and Myron and brother-in-law Don Wharton.
Wharton is the chief operating officer, Adrian chief technical officer and Myron is in charge of sales and marketing.
ParetoLogic is about business and family. Father Julian Pereira showed his sons how to do business online -- the company's continuing focus. "He's the one who kind of inspired us," said Elton, 34.
The company's initial product, XoftSpySE, was created to combat spyware, software that gathers information without the user being aware of it. ParetoLogic sold 350,000 applications in its first year. "We had instant cash flow from Day 1," he said.
Today, ParetoLogic has seven millions customers world-wide and 155 million downloads of its software, Pereira said.
Software products include privacy controls for parents, data recovery and anti-virus technology. Products are designed to be simple to use, operate quickly and not take up much space in the computer's system. ParetoLogic emphasizes customer support and service for average people at home, Elton said. "We are just trying to ensure that their PC experience is as positive as possible."
Family members in the business and the staff are motivated and welcome challenges, he said. "They want to grow. They want to compete."
RevenueWire, spun off from ParetoLogic three years ago, is an affiliate digital product network with 40 employees, Pereira said.
Coming up in the next year is a new business focusing on tracking any vulnerabilities in a business's websites, Pereira said. The aim is to find and block any holes that hackers could use and then give the website customer a certified stamp for its order page, providing in turn, peace of mind to that firm's customers with the aim of increasing sales.
ParetoLogic has collected several business honours. In June, it made Profit Magazine's Profit 100 list, ranking 23rd among Canadian companies by comparing revenue growth between 2004 and 2009.
