BROOMFIELD — Application Experts, a 10-year-old software company commonly known as App-X, has rebranded as Altvia in an attempt to better align its name with its services.
The company’s software helps private-equity and venture-capital firms streamline the flow of communication and information between fund managers, portfolio companies and limited partners or prospective investors.
The first part of the Altvia name, company officials said, is a nod not only to alternative investments, but also to height or ascension. Combined with the Latin via, meaning road or way, they said the new name reflects the company’s drive to help clients create “a path to the top.”
“We have a lot of wind in our sails in terms of momentum, and we felt like now was the right time to do it, to have the name of the company and the branding match what we’ve been doing all along,” CEO and founder Kevin Kelly said in an interview.
Kelly said Altvia is projected to hit revenue of between $4.2 million and $4.3 million this year, up from $2.7 million just two years ago. The company has 27 employees, all based at 590 Burbank St. in Broomfield, where the firm earlier this year nearly doubled its office space.
Kelly said he expects to continue adding two to four employees per year, as well as add offices in other cities known as more-traditional financial centers in the near future.
Altvia went through the Techstars startup accelerator in 2008, but took the course after that of bootstrapping the business rather than raising outside capital.
Kelly said Altvia is actively looking at options for expansion and doesn’t rule out raising capital in the future.
“But we’re a very viable growing concern as we are without that,” he said.