Every year Inc magazine releases its Inc.5000, celebrating the 5000 fastest privately held businesses. The Inc.5000 2002 is seen as a benchmark of growth and performance and is determined by percentage revenue growth between 2018 and 2021. With many US companies aspiring to get on this illustrious list, all eyes were on the latest edition.
The 2022 list saw 154 Massachusetts companies making the grade. These companies saw a 203% median growth and a staggering total revenue of $7.3bn. Their addition to the list shows the success and growth these Massachusetts leading lights have experienced in the last few years.
Of the 154 Massachusetts companies featured in the Inc 5000 list, 136 are based in Boston. These businesses' services include everything from financial services to real estate to technology.
Among these 136 companies, the Inc 5000 list 2022 saw six innovative and flourishing Boston tech companies honoured. To celebrate this achievement, we have provided a deeper insight into the Inc 5000 and these six Boston Tech companies awarded this prestigious recognition.
What is the Inc 5000?
In 1982, the Inc 500 was first released by Inc, an American business magazine. The purpose of the Inc 500 was to list the fastest-growing privately held businesses in the US over a three-year period. Since its formation, the list has become prestigious and the hallmark of entrepreneurial success.
In 2007, the Inc 500 list was expanded to the Inc 5000. According to Inc magazine, this is a 'celebration of innovation, a network of entrepreneurial leaders, and an effective public relations showcase'. Furthermore, it shows you are a significant player in your industry and recognises that the business is being run successfully and is poised for continued growth.
With over 6.1 million companies in the US, being part of the top 5000 is an honour for any company. Over the years, some of America's most successful organisations have graced the list, from Microsoft to Patagonia to Oracle.
But what requirements must businesses meet to be added to the list? A company has to be:
- Privately Owned
- Based in the US
- Independent (not a division of another company or subsidiary)
- In year 1, had revenue no less than $100,000
- In year 4, it had revenue of at least $2,000,000.
Advantages of Being on the Inc 5000 List
Being awarded a place on the list brings with it many advantages. Here are three crucial reasons for wanting your business to be on the list:
1. Provides National and Worldwide Exposure
The list provides an opportunity to gain extensive recognition from a highly respected source. This recognition by Inc leads to industry, national, and global media exposure. In addition, all companies that make the list are given their own profile on the Inc's website.
2. Networking Opportunities
Being part of the Inc 5000 list means you join an exclusive community of business leaders. This community allows for greater high-quality networking opportunities leading to sales generation and partnerships. Furthermore, it will enable leaders to share ideas and insights on best practices with each other.
3. Increase Brand Attractiveness in the Jobs Market
Firstly, your addition to the list will help increase employee morale and create a positive working environment. In addition, this heightened employee engagement will lead to improved employee retention and satisfaction.
As part of a recruitment drive, companies can use their place on the list, increased staff engagement, and media exposure to highlight to prospective candidates that they are nationally recognised as a successful business and an excellent place to start a career.
Presenting the Top Six Inc 5000 Boston Tech Companies
Explore the list below to learn more about the top six Boston tech companies proudly leading the way on the Inc.5000 2002 list.
With a revenue growth of 5887%, it's no surprise that Numerated made this distinguished list. They had an overall ranking of #65 and were the number one company in Boston.
Numerated powers over 140 banks and credit unions. Their platform allows them to create a seamless and efficient digital lending experience for financial businesses and their clients, focusing on digital applications, underwriting, and closings.
To discover more about Numerated, explore their website for more information.
Coming up second out of the Boston tech company is HqO, with an impressive ranking of 75% and a staggering revenue growth of 5291%.
Operating in 25 countries and a workforce of over 200 people, HqO experience software is helping companies and commercial property teams create modern 'live, work, play' workplaces to power the new hybrid world and increase the efficiency of building operations.
If you want further information about this highly innovative company, discover their website and how they can support you.
Next on our list is Accelevants, who also made the top 100 at #97 on the Inc.5000 list with a returned revenue growth of 4393%.
Accelevents provide an all-in-one event management platform for virtual, hybrid, and in-person events being used by thinkers, creators, and doers. Over 12,500 companies and organisations put their trust in Accelevents for their events, including Amazon, TED, Salesforce, and Stanford University.
If you want to see if Accelevents can support you with your events, check out their website.
The rise of video communications technology has seen OpenExchange's video solutions for private investors and financial professionals enter the list at #124, returning revenue growth of 3650%, helping them rise from last year's rank of 183.
Their video solutions boost some impressive figures, including the following:
- 1124 virtual conferences
- 310k virtual meetings
- 148m minutes of videos viewed
- 24 time zones covered
- 2800k interactions
- 250m air miles saved
Explore their website for more information about this Boston tech powerhouse.
Number 5 on our Boston list, with revenue growth of 3202%, is Fairmarkit, with its supply chain automation platform. Their success saw the company enter the Inc.5000 list in 2022 at #159.
Fairmarkit's platform allows businesses to be more efficient, save money, increase visibility, and gain more control. As a result, they are trusted by major companies, including BP, BT, and Cabot.
For information about their innovative platform, explore their website.
Sixth on our list and coming in at #167 and with a returned 3064% growth, is the online notarisation, e-signature, and eClosing services company Notarize
Notarize's platforms allow you to connect with a notary 24/7 via your computer, tablet or smartphone. As a result, it is trusted by major companies such as Adobe and Salesforce. It was also awarded Glassdoor's Best Places to Work in 2019 and Builtin's Best Places to Work Boston in 2020.
For more information about Notarize, visit their website.
Our Technology Recruitment Specialists are Here to Support
At the heart of the successes of these Boston tech companies and all the organisations on the Inc.5000 list are their people. Exceptional people are needed to drive a business's success, help it stay innovative, and allow it to continue to grow.
Over the past 14 years, we have developed a proven track record in successfully building and scaling technology teams, from startups and scaleups to major global organisations.
To find out how we can make your recruitment faster, easier, and more effective, visit our dedicated page to see how we support you in transforming how you recruit and overcoming your hiring challenges.