Novient Doing Well Despite IPO Withdrawal

Novient might have pulled its IPO filing earlier this month, but according to Ian Hoffman, vice president of marketing for the Atlanta-based developer of Web-based automated software, 2000 was all about meeting and beating expectations.

“2000 was an incredible year of growth for Novient, and now we are positioned to soundly grow stronger into the future,” Hoffman said. “I believe we exceeded all expectations in 2000.”

Although the company has yet to release its 4Q earnings report, Novient received contracts for software and services of around $20 million during the year, according to published reports. For comparison’s sake, the company recorded over $4 million in revenue in 1999.

In the fourth quarter alone, Novient added 11 new customers, including iXL, Columbus, Ohio-based American Electric Power and Pittsburgh-based Mellon Financial.

According to Hoffman, all of Novient’s offices around the country, which include locations in New York, Boston, Chicago, Los Angeles and San Francisco, among others, performed well in 2000, and have strengthened the company for future growth.

“We have a lot of great things happening and a lot of momentum, some exciting new releases coming out, and hopefully some great partnerships and new accounts to add to the roster very soon,” Hoffman said.

Novient made some key additions to its senior management staff in 2000, with appointments to such executive positions as president, COO, and CEO (R. Halsey Wise), as well as naming Chris Camerieri as its general counsel and Teresa Smith as VP of worldwide customer support.

Novient filed to offer its common stock with the SEC in July, 2000, but withdrew that filing earlier this month, due to current unbalanced market conditions. Hoffman could not say whether or not there are any plans or dates to re-file with the SEC.