8 It Company Success Stories [2024]
Ever wondered what it's like to shape the digital world? Starting an IT company offers that very opportunity. In simple terms, an IT company provides technology services and solutions to businesses and individuals, ranging from software development to network management and cybersecurity.
The demand for IT services is undeniable and continues to grow as businesses increasingly rely on technology to operate efficiently. This business idea allows you to leverage your tech skills while addressing real needs in the marketplace.
Think long-term; building an IT company is hard work that involves staying current with fast-evolving technologies and maintaining strong client relationships. If you're ready to dive into a field that combines problem-solving and innovation, starting an IT company may be your next big move.
In this list, you'll find real-world IT company success stories and very profitable examples of starting a IT company that makes money.
1. iContact ($50M/year)
Ryan Allis co-founded iContact by recognizing a pain point early on through his experiences with digital marketing. His journey began as a young entrepreneur who started various ventures, like a computer consulting business when he was 11 and a web marketing consultancy by 16. While handling web design jobs, he noticed how tedious and inefficient existing email marketing solutions were, especially as most were desktop-based and not user-friendly.
This revelation came to a head when he partnered with Aaron Houghton, whom he met through the Carolina Entrepreneurship Club at UNC. The duo discussed creating a web-based email marketing tool that would simplify email newsletter distribution for small businesses. They validated their idea by offering free services to local businesses, such as Jimmy John's Sandwich Shop, to demonstrate the tool's effectiveness. Learning from initial user feedback and adjusting their approach, they managed to generate recurring revenue and acquire paying customers.
One of their early challenges was managing their resources; they bootstrapped the company, working in frugal conditions without a salary for years. Additionally, an instance of a critical server crash taught them the importance of system reliability and customer trust. Surviving these hurdles with persistent efforts and smart pivoting, they refined their product, proving the business model was not only feasible but scalable. By focusing on getting things right with the product and maintaining a close relationship with initial customers, they learned the importance of real-world validation and adaptability in their startup journey.
How much money it makes: $50M/year
How much did it cost to start: $5K
How many people on the team: 250
Discover how Ryan Allis turned a $4,000 server investment into a $169 million acquisition by Vocus, overcoming technical and financial challenges through strategic pivots in email marketing for small businesses.
2. Twelvedevs ($1.2M/year)
Andrey and his co-founder Alexander were working as programmers in a software development outsourcing company when they decided to start their own company. Inspired by stories of small teams achieving success, they came up with the idea of creating a small team of 12 top developers. However, they soon realized that they needed to expand their teams to grow the company, leading to the formation of Twelvedevs, an IT consulting and custom software development company. Since its launch in 2012, Twelvedevs has completed over 70 projects in various industries, including Fintech and logistics, and has become one of the leading custom software development companies with over $100k in revenue per month.
How much money it makes: $1.2M/year
How much did it cost to start: $300
How many people on the team: 50
Twelvedevs, an IT consulting and custom software development company, shares its success story after 9 years of completing more than 70 projects across various industries, having over $100k revenue per month, fifty employees, and a soon-to-be-opened branch in the U.S. for Fintech and logistics.
3. Fli-Fi ($360K/year)
Ashley Smith stumbled upon the idea for Fli-Fi while working as an IT support consultant. After encountering a client who needed temporary internet connectivity for their photo booth at a music festival, Ashley teamed up with the founder, Will Skewes, and saw the potential for the business to grow. With a unique product called the PaW (Portable access WiFi) and a focus on providing exceptional service, Fli-Fi has experienced triple-digit growth each year and attracted clients from various industries.
How much money it makes: $360K/year
How much did it cost to start: $5K
How many people on the team: 2
Fli-Fi is a temporary internet connectivity and WiFi company that has seen consistent triple-digit growth over the last 6 years, with more than 30 jobs and repeat business from clients who trust and rely on their great service.
4. iDigitize ($168K/year)
iDigitize leverages low-code/no-code technologies to help companies overcome their fear of investment by providing cost-effective and efficient services. Mumtaz Kazi, the founder, saw the potential of Microsoft Power Platform during his time in the healthcare sector and decided to spread the word and create a business that offers process automation, training, and analytics services. Through word of mouth and utilizing LinkedIn, iDigitize has attracted and retained customers, and their future plans include becoming a Microsoft Gold Partner and launching a product on the Microsoft Marketplace.
How much money it makes: $168K/year
How much did it cost to start: $1.4K
How many people on the team: 5
iDigitize founder Mumtaz Kazi shares how she started an online business providing process automation, training, and analytics services, becoming a Microsoft Partner and academic partner of prestigious universities in less than a year, and plans for the future including launching a product on Microsoft Marketplace.
5. Common Sense Holdings ($120K/year)
Maanda Mulaudzi, founder of Common Sense Holdings, came up with the idea for his technology solutions startup during a bus trip in South America. After realizing he wanted to leave his corporate job behind, he started the company upon returning to South Africa and now focuses on rapid prototyping to meet client needs. With a turnover of $5,000 a month, Mulaudzi aims to increase monthly revenue by 100% in the coming year.
How much money it makes: $120K/year
How many people on the team: 2
South African startup Common Sense Holdings, founded by Maanda Mulaudzi, specializes in mobile apps, web-based applications, and IT consulting in the education and business sectors and is on track to double its $5,000 monthly revenue with new clients.
6. Apps:Lab ($72K/year)
a team member as a dedicated product manager to handle their project and ensure successful delivery. Our current revenue stands at $3,500 per month, with 85% generated from software development services and the remaining 15% from our flagship on-demand food delivery app, LetaFood. Despite the challenges in the current market, we are focused on expanding our in-house projects and product development to drive future growth and change the narrative of technology adoption in Kenya and Africa.
How much money it makes: $72K/year
How much did it cost to start: $1.2M
How many people on the team: 5
Apps: Lab KE is a software development company generating $3,500 per month, specializing in problem-solving using technology and data for businesses and communities.
7. Rank Trends ($72K/year)
Md. Yousuf Ali, the founder of Rank Trends and Khan, came up with the idea for his business after discovering the potential of digital marketing through oDesk. With his background in web design and development, he launched Rank Trends to provide SEO, web design, and graphics design services. The business quickly gained traction and was recognized as the "Best SEO Service Provider in Bangladesh 2019." Today, Ali is expanding his retail business into the online space and plans to resume activities for Rank Trends soon.
How much money it makes: $72K/year
How much did it cost to start: $5K
How many people on the team: 2
This case study features Md. Yousuf Ali, the founder of Rank Trends, who shares how he started a successful digital marketing agency, which generated a revenue of over $6k per month through SEO and video production services.
8. Marine Digital ($6K/year)
Ivan, the founder of Marine Digital, came up with the idea to create a modern digital service in the marine industry after seeing how outdated and inefficient the industry was during his work in banking, IT, and logistics. With the support of APX VC Fund and a pivot in his business, Ivan and his team developed a fuel optimization system that has garnered interest from clients and generated €60K in revenue from pilot projects. Now, they are launching the production of their digital twin in the EU, with plans for worldwide mass-market scaling in the future.
How much money it makes: $6K/year
How much did it cost to start: $1M
How many people on the team: 12
Marine Digital is a deep-tech company that aims to make modern instruments of decarbonization available for the mass market and has made massive progress in performance digital twin cost reduction (10 times lower than the average market cost), providing opportunities for non-giant marine companies to use it, with 3 pilots earning about €60k.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
