104 Chicago Companies Make the Inc. 5000 List of Fastest Growing U.S. Companies; Businesses Added 7,461 New Jobs Over Last Three Years
Chicago ranks second in the nation in the number of fast growing small businesses for the second consecutive year according to the annual Inc. 5000 list. This year 104 Chicago companies were named to list, accounting for 7,461 new jobs.
“Small businesses are the economic backbone of Chicago, providing jobs for our residents and helping our neighborhoods to thrive. For the second straight year, the opportunities that exist in Chicago for people to start and grow a successful small business have been acknowledged in the Inc. 5000,” said Mayor Rahm Emanuel. “When our small businesses succeed Chicago succeeds, and we will continue our efforts to make the city a partner in their success.”
The Inc. 5000 provides a comprehensive look at what is considered the “backbone of the economy,” small businesses and the independent entrepreneurs who run them. The 2015 list is considered to be the most competitive in the list’s history, requiring companies in the top 500 to have achieved a minimum of 913 percent sales growth over the previous three-year period. In that time, Chicago’s listed companies added 7,461 jobs to the local economy, generated over $4 billion in revenue and had an average growth of 461 percent; 10 of the companies grew by over 1,000 percent during that time. This year, ten Chicago businesses ranked in the top 500. They are:
- ReVamp Electronics (#50) Wholesale distributor of smartphone and tablet repair parts. $8.2M revenue; 3-year growth rate of 5,261%.
- Signal (#51) Develops software that enables marketers to centralize data and to distribute it in real time to any measurement, marketing, or media endpoint. $17.2M revenue; 3-year growth rate of 5,244%.
- Sprout Social (#78) Social media management platform that enhances communication with customers. $15.2M revenue; 3-year growth rate of 3,918%.
- Spikeball (#139) Sells equipment and apparel for Spikeball, a team sports game that has been described as a cross between volleyball and four square. $3.2M revenue; 3-year growth rate of 2,754%.
- Insureon (#259) Provides a range of insurance coverage to more than 40,000 small businesses, addition to general liability and professional liability insurance. $17.7M revenue; 3-year growth rate of 1,742%.
- CarrierDirect (#261) Consultant for logistics and transport companies that helps develop and execute new strategies for business enhancement and growth. $2.3M revenue; 3-year growth rate of 1,729%.
- CETA Group (#297) Provides health care consulting and software services. $2.9M revenue; 3-year growth rate of 1,536%.
- Falcon Consulting Group (#316) Provides comprehensive IT consulting and implementation for a wide range of healthcare organizations. $11.9M revenue; 3-year growth rate of 1,475%.
- Paramount Lodging Advisors (#419) National hotel advisory team exclusively committed to the hospitality industry. $2.9M revenue; 3-year growth rate of 1,132%.
- Montway Auto Transport (#429) Auto transport management company that delivers cars across all 50 states. $15.7M revenue; 3-year growth rate of 1,090%.
“We are pleased to see so many of our rising stars included on Inc. magazine’s list of fastest growing companies,” said World Business Chicago President & CEO Jeff Malehorn. “Chicago’s independent entrepreneurs are a hugely important segment of the economy, and their representation on Inc.’s list proves our city’s strength.”
“The story of Chicago-based companies on the Inc. 5000 is the story of great leadership. In an incredibly competitive business landscape, it takes something extraordinary to take your company to the top, said Inc. president and editor-in-chief Eric Schurenberg. “Chicago’s feat of topping almost every major city in Inc. 5000 companies speaks to a fertile and encouraging environment, great local talent, and the ‘can-do’ attitude that is a hallmark of the city’s entrepreneurial DNA.”
Since the beginning of his Administration, Mayor Emanuel has instituted a number of reforms to help support small business growth and entrepreneurship in the City of Chicago. This includes launching the Department of Business Affairs and Consumer Protection’s Small Business Center (SBC) to provide a “one-stop-shop” for small businesses, and programs such as the Small Business Opportunity Centers, which have $5 million available for small business loans. Businesses can visit the City’s Small Business Center online at www.cityofchicago.org/sbc.
The full Inc. 5000 list will be published in Inc. Magazine’s September issue. Complete results, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.