IT biz wiz

In 2010, Matt Nachtrab and his five-person software company were faced with a difficult decision. Nachtrab always wanted to have full control of his business, but he was invited to partner his IT systems remote-monitoring and management software with ConnectWise, a provider of professional IT services automation software. The partnership would mean diluting ownership and ultimately losing some of the control.

“We took a leap of faith with Connectwise,” says the 37-year-old CEO of LabTech. So the company moved from Toledo, Ohio, to Tampa in February 2010. “At this point, I know it was a good decision, but at the time, it was like going on a blind date.”

The strategic partnership provided the fuel for LabTech's growth. Over the last three years, the company has grown from 59 employees to its current 210, and to more than $23 million in revenue. The partnership, which was an exchange of an undisclosed amount of cash for equity, has faired well for ConnectWise as well, as it has grown from 75 to 240 employees.