Metisentry, a successful tech start-up in downtown Akron, has been sold.
Its founder, Marling Engle, told us he sold the business in July so he could focus more on his other businesses, particularly Willco Tech, a business he acquired in 2017.
Engle declined to name the buyer, but said that for the 10 employees of Metisentry, an IT company specializing in software-as-a-service applications, things aren’t expected to change much.
“It was acquired by a Canadian company. They will keep the Metisentry brand and continue to focus on it,” Engle said. “Metisentry has been remote (at work) for about two years now and the company that bought it is fully remote.”
Selling the 16-year-old company was a tough decision, Engle said, because Metisentry was one of his first and perhaps his most successful startups to date.
But Willco, formerly of Missouri, and MilitaryHire.com, a North Carolina company Engle acquired in 2019 and of which he is a board member, are growing rapidly and demanding attention, Engle said. Both of these companies are now based in Akron.
Engle’s private companies do not disclose their finances, but Engle said Willco has seen revenue increase more than 500% since its acquisition, while MilitaryHire has doubled revenue in less than three years.
COVID, labor shortages, global political unrest – a host of factors are driving business for the two companies, which are working with the military, defense agencies and contractors on things like tracking credentials for skills and security clearances; and connecting veterans with employers who need their specific skills.
Even with recent rapid growth, Engle believes both companies are just getting started. “It’s on the first part of the hockey stick,” he said. “The problems we solve are so big – I don’t think people realize this is a small company in Ohio doing it.”
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