The modeling software spin-off of engineer-construction manager MWH Global clearly loves its clients, and from the array of testimonials displayed on its website, they seem to love Innovyze right back. The firm has carved a lucrative niche as a leading developer of modeling, simulation and operating analysis software for "wet infrastructure"—water and wastewater treatment plants and systems—that has captivated utility executives and even their engineering consultants who may compete with Innovyze's parent in other arenas.
Touting its blend of high-tech prowess and industry-specific expertise, Innovyze offers its customers a more powerful package. "Our software provides a total solution because it allows owners to understand the related issues and risks they face," says Paul F. Boulos, a 20-year MWH veteran who now is Innovyze president and chief operating officer. "IBM can't do that." He says repeat business accounts for two-thirds of its revenue and that 25% of all software orders received in 2010 were by referrals. Innovyze gets 1,200 "thank you" e-mails annually, says Boulos. While the firm does not release numbers, he touts a three-year compounded annual growth rate of 57% in revenue and 30% in operating income and a "fiftyfold" increase in staff. The firm has 104 employees.