BEN Helps High Growth Video Tech Company’s Drive for Continued Success
How can stores, restaurants and wireless retailers use video in innovative ways to increase sales and improve customer experience? That’s a question that Superior-based Envysion is helping leaders like Chipotle, 4G Wireless, El Pollo Loco, and others realize every day. Founded in 2006, Envysion today has over 100 people on staff, helping some of the nation’s top restaurants, wireless retail stores and others to deliver on their brand promise of ensuring happy customers, high-performing employees and profitable businesses with its video-driven business intelligence service.
But reaching that next level of breakout growth is the Company’s top priority, and something Envysion’s President & CEO Matt Steinfort looked to accelerate when the Company joined the Blackstone Entrepreneurs Network (BEN) in May 2014. Steinfort saw the potential value in BEN’s mission of connecting growth stage companies with successful entrepreneurs and providing peer-to-peer input from experienced executives in relevant industries that may have been through similar circumstances and who are dedicated to the success of high growth companies in Colorado.
In only a few months, Steinfort and other Envysion executives had already had several engagements with BEN, getting outside perspective and making excellent headway on several challenges the Company faced in is path to growth. In particular, BEN’s network offered Steinfort and Envysion insights on: making a difficult transition with a key executive; deciding whether to relocate the business back to Boulder; and, refining its value proposition and messaging with the input from executives and mentors within its target customers’ markets. In addition, Steinfort was able to meet and hire Envysion’s new CFO, its vice president of corporate development, and a very impactful new board member directly as a result of involvement in BEN.
“At Envysion, we have delivered steady and positive growth, but we are constantly looking for ways to get to that next level and to accelerate our progress,” says Matt Steinfort, president and CEO of Envysion. “Working with BEN has definitely helped us, giving us access to a great community of local investors, prospective employees, and other CEOs. It has helped to increase awareness for our company in local hiring markets and has also given me the opportunity to leverage valuable input from experienced executives that are incredibly open and generous in sharing their experience. It has definitely been a valuable relationship, and we look forward to continuing to be a part of the BEN network.”
Through integration with customers’ point of sale systems and sophisticated video analytics, Envysion offers visibility into customer wait times, customer demographics, store cleanliness, execution on company processes, potential fraud and suspect transactions, and more —across all of their locations. The company has been recognized with numerous awards, including a Stevie® Award, a Red Herring Global: Top 100 Winner, the Deloitte Technology Fast 5000™ to name a few. It recently moved to a new, larger facility from Louisville, and it continues to expand and grow employees by 10-20% heading into 2016.