CIMdata PLM Industry Summary Online Archive
8 February 2011
Financial News
Knovel Doubles New Business Growth in 2010
Knovel announced it doubled new business revenue in 2010 and annual subscription renewal rates continue 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.
In 2010, Knovel celebrated its 10-year anniversary by expanding its content roster with the addition of two new subject areas, creating four key essential packages and welcoming 10 new publishing partners. A pioneer in the field of online, interactive publishing, Knovel has and continues to transform the way engineers find and use technical reference information. Over the years, Knovel has been able to help engineers cut down the time it takes to research projects by offering its users interactive data and a tight integration of three key elements – validated content, optimized search and data analysis tools.
As the experienced baby-boomer engineers begin to retire, the manufacturing industry is challenged to replenish and educate the raw talent of the next generation. To do this, the next generation of engineers must have access to the most reliable training, resources and tools to remain cutting edge. Companies, like Knovel, are innovating to meet this need in order to support and drive the current and up-and-coming generation of engineers.
Knovel’s 2010 Highlights Include:
· Expansion of Content and Publisher Base: In 2010, Knovel grew the content of its existing subject areas in excess of 17 percent, added 10 new publishing partners and introduced two new subject areas. Knovel incorporated thousands of new interactive tables, graphs and equations bringing the total to nearly 70,000. Knovel also worked closely with key engineering societies and publishing partners, including ASM International, ASME, American Water Works Association (AWWA), SPIE and Chemical Publishing, to ensure its users – 600 companies worldwide and more than 300 leading universities – 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: This year, 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.
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