After less than a year in business, Indianapolis-based Torchlite has hit another milestone. The digital marketing firm, which recently announced an expansion involving up to 140 jobs, is reporting $2 million in annual recurring revenue.
The announcement comes as Torchlite launches an upgrade to its digital marketing platform, which it says will improve communication between businesses and outside talent. The upgrade gives customers real-time notifications regarding the status of their marketing campaigns.
Torchlite recently expanded its freelance network to more than 500 digital marketing specialists who go through a vetting process before being able to showcase their skills.
"A lot of young companies look to establish proof-of-concept through beta tests with their customers, but we turned the microscope on ourselves," said Shawn Herring, co-founder of Torchlite. "We assembled a team of Torchliters who had the skills we needed and they’ve been the primary engine driving our growth since day one."
The announcement is the latest example of the company’s growth since launching in November. More than a month after starting up, Torchlite had already announced it had reached $1 million in annual recurring revenue.