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Homeowners associations are well-documented victims of the recession: Across Florida, HOA boards and developer-owned communities are in dire cost-cutting modes, as the amount of homeowners left to pay dues shrinks with every foreclosure.
But Envera, a two-year-old Sarasota-based technology company, has been able to draw opportunity out of the turmoil. Envera, which uses a combination of proprietary software and the Internet to serve as a high-tech security guard for gated communities, has seen its revenues increase 33% in 2009, says Mark Midyett, the firm's business development director.
The company will reach $3 million in revenues this year, says Midyett, up from $2 million in 2008. Envera is also projecting more growth in 2010 in terms of sales, offices and employees. It currently has 35 employees, up from 25 last year.
“We've had fantastic growth the last year and a half,” Midyett tells Coffee Talk. “We present an interesting argument for [HOAs] facing economic difficulty.”
That argument, essentially, is this: By using high-tech cameras and remote access to the gates, Envera claims to be able to solve a big problem for gated communities by taking costly manned gates out of the equation. (See Review, 11/14/08.)
Envera, not surprisingly, has been targeting gated communities for clients, both in Florida and across the Southeast. Midyett is currently in the final stages of opening Envera branches in Naples and Boca Raton. The company is also seeing more growth in the Tampa and Orlando markets, Midyett says.
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