Transfinder expanding into new products as it enters 2024
From The Times Union / By Larry Rulison / Jan 29, 2024
SCHENECTADY — Transportation software company Transfinder announced that it had $35.4 million in revenue during 2023, a 23 percent increase over 2022.
Although Transfinder is a privately held company and is not required to reveal its financial condition to the public, it announces its revenues each year. The company has increased revenue each year for 26 straight years. It is unknown how profitable the company is after expenses since the company does not reveal those costs.
Transfinder makes software used by school districts to plan bus routes and track buses and students. It also has expanded into hardware sales and new software products used by police departments.
Transfinder CEO Antonio Civitella said the company has 2,300 school district customers in North America, up 164 districts in 2023.
Not all districts use bus routing software, although Civitella said that one out of every three districts uses Transfinder software, an amazing market share.
Transfinder has started selling hardware that goes with its software, a move that gives customers one point-of-sale and service, something Civitella said is about convenience more than anything else.
“You just go to one company (with problems),” he said.
Transfinder has also introduced a new school bus fleet maintenance software product and a software package for police departments called Patrolfinder.
The Times Union asked Civitella if the post-COVID practice of parents driving their children to school instead of them having them take the bus had caused any headwinds the company was battling. Civitella said parents might think that they are saving time, but it probably doesn’t save as much time as people think.
And it’s less safe often since parents are in a rush and they have to deal with an influx of other parents in school parking lots at drop-off and pickup times.