The pace of life is just a little slower in Maine, and we like it that way. You would feel the same if you came from a state of 89% forest, with 43 people per square mile and 40,000 acres of blueberries. Technology is the one thing that is not slow in Maine. Tech companies are thriving in the region, and startups from within are growing exponentially. The most prominent industries in the area are finance, insurance, real estate, and technology. This article will cover the significant Tech players from the State.
Largest Tech Companies in Maine (Based on Annual Revenue)
Largest Tech Companies in Maine ( Based on Number of Employees)
Tech Companies Founded in Maine?
Blue Marble Geographics
Blue Marble Technologies is a geodetic and GIS software company based in Hallowell, Maine. It started in 1993 and has grown to an annual revenue of $4.5 million and has 36 employees in its main office. They provide cutting-edge software and applications within their industry for use by both professionals and novices. They serve several organizations worldwide including state governments and fortune 500 companies. Their focus over the years has been on coordinate conversion, products dependent on user properties, photogrammetric, and LIDAR point cloud processing. Their best-selling applications are Geographic Calculator, Global Mapper, and Global Mapping LIDAR Module.
The company was established in 1993 in Gardiner, Maine. The founder was Jeffery Bennet Cole, a graduate of the University of Maine that focuses on surveying forests and forestry programs. He worked in the company until 2003 when he retired. Patrick Cunningham took over the management position from there. After the management changes, the company added more employees and refocused the product development processes. In 2008, they received the Technology Company of the year award from the Governor at the TechMaine Awards. Blue marble later moved its headquarters to Hallowell, Maine.
GWI (Great Works Internet)
Great Works Internet is a privately owned telecommunications company based in Biddeford, Maine. They are the biggest provider of dial-up internet, wireless internet, telephone services, and related support services in Maine. It has 131 employees and an annual revenue of $18.1 Million.
The company started in 1994 as Biddeford Internet Corporation, a local internet service provider for Biddeford. Within one year, they had expanded their services to 70% of the Maine Population.
Biddeford Internet Corporation partnered with Casco Cable and New England Cable Vision in 1996 to form the biggest ISP in the American cable industry. In 1997, the company changed its name to Great Works Internet (GWI) after completing a statewide internet connection. The new name originated from the Great Works River in Maine. In 2002, GWI introduced ADSL and GWI Broadband high-speed internet service to Maine and New Hampshire communities. In 2011, GWI brought public and private institutions together in the state to fund the Three-ring Binder open access fiber optic network. The accomplishment brought 21st-century internet access to the state.
INC magazine recognized GWI as among the top 500 fastest-growing companies in the country in 2003 and 2004. It received the same recognition later in 2010 and 2011. MaineBiz awarded the company CEO Fletcher Kittredge the Business Leader award of the Year in 2011.
Largest Tech Companies in Maine
It is a technology company that provides payment processing services and management of information systems to industries and the government. It serves millions of companies and governments in the United States, Canada, Europe, Asia, South America, and Australia. Their core business areas include fleet management, corporate payments, and benefits management. Wex Inc is based in South Portland, Maine. The company’s current market value is 7 billion USD, with over 5500 employees worldwide.
WEX has three sections; WEX Fleet, WEX Virtual, and WEX Health. WEX Fleet’s primary operations revolve around providing vehicle fleet clients with fuel cards, telematics, and data. They, therefore, have partnered with other companies in this field, such as OnDeck Capital, GasBuddy, and Chevron. WEX Virtual works online to help travel agencies process cross-border payments using virtual cards. It, therefore, helps online travel agencies to automate their accounting practices. On the other hand, WEX Health provides payment services for HRAs, HSAs, COBRA, VEBAs, and FSAs contributions, transit plants, and wellness plans.
The company started in 1983 as Wright Express Corporation. Back then, it was a fleet card provider. It has since expanded to provide services in the travel and healthcare industries. They got their first brand partners in 1986, then in 1991. By 1996, they had sold up to 1 million cards. They established WEX Bank in Utah in 1997. WEX made its first IPO in 2005 and reached the 5 million cards mark by 2012. It changed its name in 2012 to WEX Inc. In the same year, it acquired Fleet One and started providing the service of fleet cards to drivers. They also acquired Evolution 1 in 2014 and started providing health industry payments. By 2016, WEXX had reached the 1Billion USD revenue mark. In 2017, they launched a new Telematics platform, naming it ClearView Advanced.
WEX started as a family business as early as 1895, then known as A. R. Wright. The original operations focused on heating oil and coal. They updated their business description and name in 1983. They changed the name to Wright Express and dealt with Fleet fueling. The name WEX originated from the customers shortening the original name. The company embraced the shorter name and rebranded the name and logo.
GreenPages is a technology consultation service company based in Kittery, Maine. They provide services in the field of cyber-security, cloud, and digital enablement. GreenPages integrate business systems to ensure positive business outcomes that allow their clients to operate competitively in the digital-driven economy. They currently have one hundred employees across different locations and earn an annual revenue of $75.4 million.
After its establishment in 1992, GreenPages forged its way to the top by anticipating shifts in the IT industry faster than its competitors. They have so far developed several registered intellectual properties, including Cloud Management as a Service Portfolio, Greenpages Cloud Xcelerator program, and Recon Business Analytics Platform. Greenpages expanded and has offices in Kittery (HQ), Attleboro, Boston, Norwell, and Tampa.
Over the years, GreenPages have made acquisitions of other companies to help them boost their standpoint in the IT field. In 2012, they acquired LogiscOne; in 2013, they acquired Qoncert and Norwell Technology in 2018.
The company started its operations in 1992 under the stewardship of Kurt Bleicken. The founders saw a niche in the market as companies needed help to source and procure technology products accurately and quickly. He, therefore, set out to improve both IT-related products and the means of acquiring them. The name GreenPages originated from the popular tool in this era, the Yellow pages. Since the Yellow Pages was a tool every business used daily, they would change the name to Green to convey the same function but with positive concepts that came with the color green.
Largest Private Tech Company in Maine?
Covetrus is a global health tech and service company supporting animal and pet veterinary markets. The company is based in Portland, Maine. The company was formed in 2019 from a merger between Henry Schein Animal Health and Vets First Choice Company. After the merger, they were listed on the Nasdaq stock exchange, but their stock dropped to half its share price. Covetrus then decided to go private for three years but wasn’t successful. It was then up for acquisition. The buyers were Cayton, Dubilier & Rice, and TPG Capital. Currently, the company is valued at $2.94 Billion.
Their software products help to create efficient, profitable practices for businesses. One is the vet practice management system that combines all veterinary software applications. Another is the ImproMed software that makes veterinary appointments and prescriptions. Other management systems are AVImark and ImproMed Equine. The company also develops marketing communication tools that help to improve market practice and efficiency in the veterinary-client and pet-owner relationships. The market communication apps they sell include Rapport and Vetstreet. They also sell integrated practice solutions. Their management systems offer other supply chain services such as financial services, business services, and inventory management.
A merger of NLS Animal Health and Vets First Choice created Covetrus. Henry Schein founded NLS Animal Health, a veterinary distribution business, in 2006. The company partnered with Butler Animal Health supply and became the US’s largest distributor of veterinary services. In 2012, Henry Schein acquired AUV Veterinary services. In 2013, the company rebranded to Henry Schein Animal Health. They merged with Scii Animal Care in 2015 and acquired RXWorks in 2016. In 2019, Henry Schein Animal Health merged with Vets First Choice in Portland, Maine, and called the new company Covetrus. At this point, they were listed in the Nasdaq stock market. They were privatized in May 2022 when TPG INC and CD&R purchased the company for 4 Billion.
The company’s founders were Henry Schein from Henry Schein Animal Health and Vets First Choice. Henry Schein is seen as the leading man behind the development of the company from scratch since he purchased NLS Animal Health in 2006
Diversified Communications is a global media company that connects and educates business communities through digital products, market-leading events, and publications. It is a third-generation private family-owned business that started in 1947 in Portland, Maine. Currently, they have more than 500 employees and earn a revenue of $ 100 million. They operate in 5 countries with ten offices.
The company purchased a radio license in 1949 and set up its first TV station in 1953. Later in 1970, Diversified ventured into publishing and trade show business through the acquisition of the Fish Expo Boston and National Fisherman Magazine. It launched Fish eNews, a newsletter for the fishing industry, in 1998 as a digital extension to the National Fisherman Magazine. From there, it grew internationally; in Australia in the year 2000 by acquiring Australian Exhibition services, and Japan in 2009 by purchasing stakes in Asia business events. Currently, the company operates trade fairs on four continents, owns several digital businesses, and produces trade publications.
The company started in 1949 when Horace A. Hildreth purchased a community-based broadcasting service WABU in Bangor. Horace A. Hildreth was a former governor of Maine, U.S ambassador to Pakistan, and President of Bucknell University. He launched Maine’s first TV station WABI-TV in 1953.
The largest Publicly Traded Tech Companies in Maine?
IDEXX Laboratories is a major player in the US-established biotechnology companies. The company’s main focus areas are producing and distributing diagnostic instruments and test kits for animals and ones to test for food and water contamination. IDEXX has its headquarters in Westbrook, rural Maine. As of 2022, IDEXX has customers in 165 countries, has 10,300 employees on a part-time and full-time basis, and serves more than a 2.5billion people. They have established over 80 reference labs and support more than 50,000 veterinary practices worldwide.
What makes IDEXX a technology company is a recent development in their services. They have, in recent years, committed to advanced information-sharing technology. IDEXX has created proprietary practice management systems for veterinarian and testing service companies. They also have education channels such as the IDEXX Learning Center. In 2011, they also created pethealthnetwork.com. It is a platform for veterinarians to connect with pet owners who seek information on how to deal with the health of their animals.
The company started its services in Portland, Maine, in 1983. The startup group consisted of the owner and five employees. Within the first five years of its existence, the company had established itself as a leader in its field. They were also the leading company in providing immunoassay kits and produced the SNAP Tests for cats, dogs, and other animals, a popular product even in today’s market. The company started trading publicly in 1991.
In the initial years, the company only focused on selling test kits to veterinarians. It later developed sophisticated laboratories that allowed it to offer laboratory services in the US, England, and Japan. They collaborated with Cardiopet and started providing consultation services all over the country and in Canada. The company also created several products to measure water, food, and meat safety and gained a new market from the government and food companies. In their journey toward the top, they made essential acquisitions of other companies. These include Vet Test S.A, AMIS Technology Company, Cardiopet, Vet Lab Inc.,
IDEXX was founded by John Shaw in 1983 as a small local business in Portland. John Shaw was addressing a new niche in the market: the detection of diseases in livestock and poultry. He initially worked for Agribusiness Associates Inc. based in Boston while living in Maine. The commute was enormous for him, leading him to think of other opportunities that would work in Maine. After consulting with the company for a while, He noticed some niches in the animal health industry and chased the dream from there.
WEX Inc is also one of the largest public trading Tech companies in Maine. It achieved public trading status on February 16 (2005) on the NYSE, where an initial public offering saw 40 million shares sold at $18.00 per share. Before the IPO, the company’s growth had been organic but was supplemented by acquisitions in the following years. The share price of the company grew to $163.96 in 2022.
Forgotten Tech Companies in Maine
Finetune was a Maine-based startup popular a few years ago for providing AI-Human hybrid solutions in learning and student assessment. The company was known for the production of Generate and Catalog software. These two applications were the first products to use state-of-the-art natural language processing models with artificial intelligence-driven content. Their applications were popular within and outside the country, and as of 2017, they served different US states and 14 countries outside the country. The College Board that administers SATs was also their biggest customer. A Baltimore-based company Prometric acquired the company in 2022, but they had the opportunity to retain its name.
The company started in 2004, founded by an academic merit entrepreneur and educator. The platform would help teachers with opportunities for professional development. The company used artificial intelligence to create education and workforce readiness software products. Finetune spent the first six years in Maine and received seed money from the Maine Venture Fund and the Maine Angels. It shifted to Boston after the management change and became remote in 2017. The company struggled during the Covid-19 pandemic. Baltimore-based Prometric purchased Finetune in August 2022. Since then, they have developed two more applications: Elevate for assessments, Acumen for human scoring, and Converge for inter-rater reliability.
Ogden Morse founded FineTune with the help of his father. Ogden Morse is an entrepreneur and teacher at Falmouth High School. After the startup and growth, he placed it in the management of CEO Steve Shapiro.
Delorme is a satellite tracking and navigation technology company based in Yarmouth, Maine. The company produces GPS units and high-quality maps for personal use, businesses, and government agencies. Their most popular product is the inReach which integrates with satellite and GPS technologies to allow a person to send and receive text messages from anywhere in the world. It also provides access to topographical maps and NOAA Charts. The company was purchased by Garmin in 2016 and allowed to continue with its operations.
David Delorme achieved success with his first two products and went on to create a company. It expanded to 75 employees by 1986. Delorme working point was Quonset Hut in Freeport, Maine. They went on to produce maps for New England and New York. By 1987, they had produced a CD with a detailed world map.
In 1997, they relocated the company headquarters to Yarmouth. In 1999, DeLorme introduced 3D TopoQuad products that featured digitized maps of the US. It became the first company to sell a USB-based GPS device in 2004. In 2007, they created the first stand-alone GPS receiver, which was also sold to other manufacturers to add GPS to their products.
On March 2016, Garmin announced an agreement to purchase Delorme but allow the Yarmouth facility to remain operational.
David DeLorme founded this company in 1976 after seeing the challenge with obsolete back-country maps of the Moosehead Lake region. He then decided to create a better map for Maine.
He collected Federal, state, and country maps and surveys to produce a Maine Atlas and Gazetteer. After printing it in a large book, he marketed the product himself. The Gazetteer proved successful within the first Year.
The image featured at the top of this post is ©Sean Pavone/Shutterstock.com.