RTT lands VC investment from Siemens, adds jobs

Thursday, September 9, 2010 | Source: metromode
Realtime Technology, commonly known as RTT, is picking up a lot of checks these days, and that's a good thing. Revenue up, check. New hires in Royal Oak, check. Venture capital investment from major company, check.

That last check comes courtesy of Siemens Venture Capital GmbH, which recently made a capital investment so it can execute the next phase of RTT's growth strategy. RTT specializes in high-end visualization technology. Three-dimensional visualization software and services are utilized in the automotive, aviation, and consumer goods industries. It will now run at the Siemens Team Center to help improve these products.

"Everything we do these days is moving toward customization," says Peter Stevenson, co-CEO of RTT. "This partnership lends itself toward that."

RTT has also watched its revenue pop this year, up 58 percent in the last six months. It's also adding people in its Royal Oak office, where it has 65 employees, six independent contractors, and 3-4 interns. It has made 20 hires over the last year and expect to add 20 more in the next six months.

Source: Peter Stevenson, co-CEO of Realtime Technology
Writer: Jon Zemke
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