This June SOTI celebrated another epic birthday milestone as a privately held and 100% Canadian owned tech company. And with that milestone we are also celebrating 108 quarters of consecutive profit and growth. Can you name another privately owned Canadian tech company that’s seen 108 quarters of consecutive profitability? I’ll wait.
We started during the early days of mobility management long before smartphones were attached to our palms, and we worked hard to become the world’s most trusted provider of mobile and IoT device management solutions.
When asked about SOTI’s success, I often emphasize our commitment to scale-up, not sell out. I founded SOTI from the basement of my Mississauga home in 1995. At the time, my goal was to build a small business, pay the bills and work for myself. An initial idea to help people view and manage mobile device screens from a desktop display became the foundation of what is now a global company with over 1,400 employees in 12 offices and a strong ecosystem of 4,000+ industry partners. We are now positioned to serve the world’s largest organizations across the retail, healthcare, field services, transportation and logistics, and emergency services sectors.
We accomplished this with a focus on building a great product and a world-class team at the forefront of tech. We do our best to make decisions based on long-term, strategic thinking in a fast-paced, profit-driven industry. Many tech companies are focused on investor needs, and this can present challenges during times of change and economic uncertainty.
Several tech companies rapidly accelerated during the pandemic, and many of them are now laying off workers, downsizing, being acquired or pushing for profitability as a result. With fears of an economic recession growing and inflation rates rising, these companies are trying to slow down and re-evaluate prior decisions, often to the detriment of employees. According to Layoffs.fyi, 35,000 tech workers have been laid off globally since March 2020.
Investors fear the businesses they invested in are losing steam. Consequently, they are likely to focus on short-term profitability, streamlining and maintaining market share, particularly during acquisitions. While our colleagues in tech are trimming their operations, SOTI is growing and looking to fill several open roles across many of our business units. SOTI's story over the past 26 years has been written by talented and passionate people looking to be a part of something big. Join us and make our story part of yours.