Business / Roundups

Here’s how a few of Baltimore’s Inc. 5000 honorees think about their growth

Baltimore's metro area tallied 57 companies on the list of fastest-growing companies, with Towson-based Confidio ranking the highest among locals at #81.

Mindgrub's Locust Point offices. (Photo courtesy of Mindgrub)

This year’s Inc. 5000, the annual list of the fastest-growing private companies in the U.S., is out Wednesday, and there are plenty of Baltimore area names are popping up.

In all, the metro area tallies 57 companies on the list, which measures the companies with the largest revenue growth over three years from 2015 to 2018. By definition the list brings in more established companies, as companies had to be up and running and generating revenue back in in 2015.

The highest rank for a company from the area on the list went to Confidio, coming in at #81. The tech-enabled pharmacy benefits consulting firm based in Towson posted three-year growth of 4,035%. For the company that works to reduce pharmacy benefit costs and improve patient outcomes, making the top 100 was a welcome surprise.

“Our team’s deep experience in serving the benefit advisor marketplace coupled with our expertise in addressing the needs of the largest plan sponsors in the U.S., using proprietary analytics, have propelled our growth significantly,” cofounder Scott Vogel said in a statement. “But even we were surprised to achieve such a high ranking. It is a real testament to the skill of our trusted team.”

From Baltimore city, Point3 Security came in at #467 on the list with 966% growth. The company pointed out that the growth numbers posted are also making an impact in the cities where they’re based.

“To be on the Inc. 500 list is an honor,” Erika Johnson, director of marketing and brand engagement, said in a statement. “The most innovative organizations raising the stakes in their respective communities receive this this acknowledgement. We are thrilled to be a part of a list of companies making a difference.”

Locust Point-based Point3 makes a platform, called Escalate, which helps managers recruit, retain and cultivate cyber analysts. Johnson said the growth comes down to the community of members who use the platform.

“Our members are passionate about solving cyber solutions. We provide a real-world experience for them through hands-on challenges. They seek an opportunity to become better at their craft by tackling challenges they would be faced in real-world scenarios,” she said.

The list also highlights companies that have earned a spot over multiple years. Standing out among local companies on this front is Edwards Performance Solutions, which earned a spot for the 10th time. The company recently signed on for space in Columbia’s Merriweather District.

Tech and IT companies like Baltimore-based Audacious Inquiry (nine years), Locust Point-based Mindgrub (seven years), Sykesville-based Alderson Loop (five years), Columbia-based WebMechanix (five years) and Baltimore-based Arch Systems (five years) are among these honorees, as well.

Forest Hill-based event tech company CadmiumCD is in its fourth year on the list, this time posting 107% growth. The company sees the honor as inspiration for the future.

“Inclusion on the Inc. 5000 list means that we can continue to grow into the future. Being recognized for our achievements as a company gives us the motivation to keep building great products, supporting our clients, and hiring great team members,” said Marketing Manager Mike Doane.

When it comes to how they got there, Doane said it’s the result of two things: “The products we build and the people who support them.

“This includes our customers, our staff, and our partners,” he said. “We are constantly striving to create the best possible solutions for real-world industry problems. We have a very aggressive development cycle, releasing new features and updates on a monthly basis. We also strive to build a strong community around our products through our monthly users groups, our annual conferences, and our quarterly training events.”

Here’s a look at some other local tech companies on the list:

  • PositivePsyche.Biz Corp
  • Nyla Technology Solutions
  • Resolute Technologies
  • Motifworks
  • Sonatype
  • Data Canopy Colocation
  • VersaTech
  • RxNT
  • PN Automation
  • ConnectYourCare
  • Strategic Factory
  • MOSAIC Technologies Group
Companies: Mindgrub / Alderson Loop / Cadmium / Webmechanix / Inc.

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