Inc. Magazine Unveils its Annual List of America’s Fastest-Growing Private Companies
More good news for DefinedCrowd and artificial intelligence! Today, Inc. magazine announced that DefinedCrowd is the 27th fastest-growing private company in the United States, and the fastest-growing private company in Washington State based on an incredible 8550.28% growth in revenue from 2016 to 2019.
This prestigious ranking of America’s most successful independent small businesses once featured companies such as Intuit, Zappos, Under Armour, Microsoft and Patagonia, who gained their first international exposure as honorees of Inc. 5000. To achieve such a high ranking on this famous list is an incredible achievement for us, especially considering the company was founded only five years ago.
“Since the company was founded in 2015 on an initial investment of $200,000, our growth has been exponential,” said Daniela Braga, DefinedCrowd founder and CEO. “Our fast-growing client base and the rapid expansion of services offered to our existing customers resulted in a staggering 656% growth in revenue, supported by a 176% growth in our global workforce in 2019 alone. To see how far we’ve come in such a short time makes me incredibly proud.”
The 2020 Inc. 5000 list itself reflects incredible growth, compared with previous lists, with a three-year average growth of over 500% and a median rate of 165%. The Inc. 5000’s aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs over the last three years.
Ranked: the methodology behind the list
The 2020 Inc. 5000 was ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies needed to have been founded and generating revenue by March 31, 2016. Qualifying companies also needed to be US based, privately held, for profit, and independent, as of December 31, 2019.
The minimum revenue required for 2016 is $100,000, while the minimum for 2019 was $2 million.
“The companies on this year’s Inc. 5000 come from nearly every realm of business,” said Inc. editor-in-chief Scott Omelianuk. “From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism.”
Demand for AI training data
DefinedCrowd’s growth highlights the value of its product offering – high-quality training data that fuels world-class AI models. It’s our commitment to quality which has resulted in Fortune 50 companies choosing to partner with DefinedCrowd in their AI journey.
“The demand for AI-enabled products is increasing exponentially across almost every industry and geography. With our talent and resources, we are definitely on track to continue on our growth trajectory and become the number one trusted data company for Artificial Intelligence in the world,” concluded Braga.