With Three-Year Revenue Growth of 81%, NOW CFO Ranks No. 4786 Among America’s Fastest-Growing Private Companies
NEW YORK, August 13, 2024 – Inc. revealed today that NOW CFO ranks No. 4786 on the 2024 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other households name brands gained their first national exposure as honorees on the Inc. 5000.
Reflecting on NOW CFO’s remarkable journey, our unwavering focus remains centered on prioritizing our clients and fostering an exceptional team spirit. With a dedicated workforce spanning the entire United States, we excel in steering businesses towards financial success. As perpetual learners, we continually enhance our expertise, ensuring we maintain a competitive edge and leave our clients thoroughly satisfied. These sentiments are echoed by Jim Bennett, the visionary Founder & Chairman of NOW CFO.
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 208 percent. In all, this year’s Inc. 5000 companies have added 874,940 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 13th.
“We are honored,” says Mari Llewellyn, co-founder and president of Bloom Nutrition, which debuts on the list at No. 357. “This recognition is a testament to the hard work and dedication of our entire team. From the start, our mission has been to help others bloom into their best selves, and this acknowledgment confirms just that. This inspires us to continue pushing the boundaries of innovation and excellence in the health and wellness industry.”
NOW CFO is a premier consulting and placement firm with a focus on outsourced CFO, Controller, accounting, and finance needs. NOW CFO distinguishes itself through its distinct approach to outsourced accounting, providing comprehensive insights into financial management. With a dedicated team of professionals, spanning from accountants to CFOs, they are committed to delivering customized solutions and exceptional outcomes for businesses of all scales.
CONTACT:
Jordan Novak, Marketing Manger | jnovak@nowcfo.com
More about Inc. and the Inc. 5000
Methodology
Step 1: The application
We collect information such as when the company was founded, who is the CEO, and what the annual revenue is. As you might expect, the application carries a processing fee ($495 for the 2024 edition) to help offset the eight months of work we do in producing the program. This step also helps determine whether a company meets the key requirements.
To be eligible for the Inc. 5000, a company must:
- Be privately held, for profit, and independent (not a subsidiary or a division of another company)
- Have been founded and generating revenue as of March 31, 2020
- Have generated a minimum of $100,000 in revenue in 2020
- Have generated a minimum of $2 million in revenue in 2023
Note that Inc. does not publish revenue figures with the list. However, if our editors decide to write about an honoree, in keeping with journalistic best practices, we will ask to include revenue in the article.
Step 2: Revenue verification
Next up in the Inc. 5000 selection process is revenue verification. All companies applying must provide documented gross annual revenue for the base year (2020) and for year three (2023). We use those figures to calculate the three-year revenue growth rate that determines the ranking. The financial statements provided, which can include redacted tax returns, must be signed by the CEO and a credentialed third party. In cases where a company claims especially fast growth, we typically ask for audited financial statements. We reserve the right to ask for additional documentation to support reported revenue figures.
Step 3: Vetting
Once the data are in order, a draft list comes to the editorial team. We then embark on an intensive secondary vetting process, interviewing select founders and conducting background research to guard against companies with a checkered history appearing on the list. For example, if editors or our research department uncover allegations of fraud, sexual misconduct, or unlawful activity by the company or its leaders, we may disqualify that company. So, while the Inc. 5000 is a purely data-driven list, all companies must pass editorial review.
That’s an important safeguard to protect both Inc.’s reputation and that of the companies on the Inc. 5000. Some household names that have appeared on the list include Intuit, Zappos, Under Armour, Microsoft, GoPro, Timberland, Clif Bar, Patagonia, Oracle, Box, and Grubhub.
The 2024 Inc. 5000 includes companies from every state and Puerto Rico. They range in size from one employee up to 262,079 workers, and from roughly $2 million in 2023 revenue up to $15.5 billion. That staggering figure belongs to Reston, Virginia-based Carahsoft Technology, which provides IT services for federal, state, and local governments, as well as customers in education and healthcare. Carahsoft ranks No. 4,650 this year–its 17th appearance on the Inc. 5000.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com
