Double-Digit Revenue and Staff Growth, Market Expansion and Continued Commitment to Innovation Solutions for K-12 Education Sector
(FOR IMMEDIATE RELEASE) Nashville, Tenn., April 25, 2023 – Technology Lab is pleased to share its remarkable performance in Q1 2023. The company achieved double-digit growth in revenue and overall technical staff, surpassing its quarterly and annual goals by an impressive margin and expanding its geographic footprint. Despite challenges in the K-12 education sector, Technology Lab remains committed to innovative solutions. With a strong recruiting pipeline and new business forecast, the company is optimistic about the 2023 outlook.
“Our outstanding first quarter performance is a testament to our team’s hard work and dedication,” said James Pope, Chief Revenue Officer at Technology Lab. “We are thrilled to have exceeded our quarterly goal by 191%, stretch goal by 127%, and we’re almost halfway to our annual benchmark in this first quarter alone.”
In addition to the exceptional financial performance, Technology Lab celebrated the promotion of four employees to new leadership roles, reflecting the company’s commitment to nurturing talent and recognizing their contributions to its success.
Furthermore, Technology Lab’s expansion into new markets, particularly in Georgia and Florida, has been a tremendous success, with flagship wins driving substantial new revenue growth. Most notably, the sales team finalized an all-encompassing partnership with a large network of schools in Florida that includes 11 campuses. This expansion has further solidified Technology Lab’s position as a leading IT solutions provider for K-12 schools.
Technology Lab continues to lead the pack at K-12 education conferences and association events, providing technical expertise among industry decision-makers, influencers, and attendees, while staying abreast of market challenges, including cybersecurity and technical talent retention.
“Post-COVID-19, schools are keeping their head above water, but leadership must be proactive now that campuses are leveraging more technology and devices than ever. And with rising technology management, maintenance, and security needs, resources are stretched thin. This climate, compounded with a hyper-competitive IT job market, makes it difficult for schools to retain top tech talent, making the situation more cost-effective and secure to explore outsourced solutions, like partnering with Technology Lab, ” said Josh Boyd, President & Founder, Technology Lab.
Despite these K-12 industry hurdles, Technology Lab remains focused on providing innovative solutions to help schools address their IT needs effectively and help them think strategically and long-term regarding technology planning and investments.
“On a somber note, Technology Lab was saddened by the tragic events at Covenant Academy here in our hometown of Nashville,” said Colleen Mollica, VP of HR, Technology Lab. “To support the families and children affected and to stand in solidarity with our community, we did an in-house fundraiser, ‘Caring for Covenant,’ with a company match to employee donations, where proceeds went to Daystar’s counseling.”
Looking ahead, Technology Lab is optimistic about the remainder of 2023. With a stacked recruiting pipeline and the newly renovated Nashville office headquarters slated for August 2023, the company is poised for exponential growth, notching new record growth and goals on the horizon.
About Technology Lab
Technology Lab is a leading IT Managed Service Provider (MSP) focused on independent schools, specializing in Managed IT Services, Technology Strategy Services (Virtual CIO), Security Services, and Products & Services that keep schools compliant and thriving. Founded in 2009, Technology Lab is an award-winning Microsoft and Apple-certified MSP, Google for Education Partner, E-Rate Certified, Channel Futures MSP 501, and CRN Fast Growth 150 company.
A school’s IT responsibilities are all-consuming, regardless of size or location. Time, money, and resources are often stretched thin, making managing the day-to-day technology needs daunting and new initiatives an impossible pursuit. That’s where Technology Lab comes in. Our team of specialists has spent our days and nights in R&D, formulating a proven approach to IT solutions specifically designed for K-12 schools.
Headquartered in Nashville, Tennessee, Technology Lab boasts satellite offices in Alabama, Florida, Georgia, Mississippi, and Louisiana.
Simplified IT Solutions Designed for K-12 Schools — Innovation Awaits. To learn more, visit technologylab.com.
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