More then $140 billion in gift cards are purchased each year, generating more than $1.8 billion in associated transaction fees. SparkBase, a Cleveland company founded in 2004, is the industry leader in software processing of gift cards, reward and loyalty programs. SparkBase's software makes sure purchases are recognized when a gift card is swiped, measures demographics, and tracks buying habits on rewards cards.

This time last year, SparkBase had a handful of customers and seven full-time employees. Today, the company has grown to 20 employees.

"Lately we have grown exponentially," says Andrew Kraynak, vice president of marketing for SparkBase. "In the past six to nine months we have really seen things take off."

In fact, SparkBase is hiring 10 more people to keep up with current needs. The company is looking for everything from client service managers to Java developers. "We're staffing based on current needs," says Kraynak. "We'd like to be ahead of the curve and hire ahead of the curve."

Kraynak attributes SparkBase's success to hard work by the company's founders. "A small company takes time to get traction and for the message to resonate," he says. There was a lot of heavy lifting by the founders and we're beginning to see the fruits of that."

Kraynak also gives a nod to Cleveland's support of small business. "A lot of people believe in us," he says. "Clevelanders are working together and they are supportive of small business here. Many of our investors are from Northeast Ohio."

Source: Andrew Kraynak
Writer: Karin Connelly