A Colorado Springs company that produces CBD oil, hemp seeds and related products was among 11 Colorado Springs companies that qualified for the Inc. 5000 list of fastest-growing private companies.
Hemp Depot, started by high school buddies Andy Rodosevich and Luke Pickering in 2015, debuted at 32nd in the nationwide list and fourth in Colorado with a 7,557% revenue growth rate between 2016 and 2019 to nearly $16 million. That is the highest rank achieved by a Colorado Springs company in the rankings that Inc. magazine has published annually since 1981.
The company employs 50 permanent and 200 season employees and is one of the nation’s largest producers of CBD, or cannabidiol, selling 72 products under its brands as well as products under 2,400 house brands for individual retailers.
“The Inc. 500 is something we always aspired to be on. We have huge dreams and ambitions,” Rodosevich said.
“We want to build a team to reach $100 million in revenue in 2021. To win an award for being in the top 50 fastest-growing private companies in all industries is an incredible accomplishment.”
Statewide, 151 companies based in Colorado made the list, including 103 from the Denver area, 19 from the Boulder area and eight from Fort Collins.
Denver-based Brumate, which sells containers designed to keep beer and wine cold, was the highest ranked Colorado firm at 14th overall with nearly 12,000% growth during the three-year period. The national list was topped by Atlanta-based OneTrust, which makes tools that give companies information on user data they accumulate from their websites.
Colorado Springs-based Quantum Metric, which produces software to help companies such as Lululemon, StubHub and United Airlines to design and deliver digital products, ranked 124th nationwide with a three-year growth rate of 2,945%.
The company, which landed $25 million two years ago from a New York venture capital fund, employs between 51-200 employees and made the list in its first year of eligibility.
Three other local companies made the list for four or more consecutive years. Information technology provider V3Gate ranked 2,048th and has made the list every year since 2016.
Online marketing firm SocialSEO and dental practice management firm Peak Dental Services made the list for each of the past four years with SocialSEO ranking 1,901st and Peak Dental ranking 1,963rd on this year’s list by more than tripling in size during the three-year period.
Other local firms on the list included:
• Professional Transition Strategies, which was started in 2009, helps dentists sell their practices, ranked 248th with three-year growth of 1,789%.
• Advance Your Reach, which was started in 2006 and conducts seminars for business owners to help them grow their companies, ranked 529th with three-year growth of 872% after ranking 1,433rd last year.
• SOLKOA, which was started in 2005 and provides risk mitigation, security and resilience services to the military, other government agencies, corporations and nonprofits, ranked 648th with three-year growth of 724%.
• CFG Systems, which operates at ConcealFab and was started in 2007 to manufacture enclosures to conceal cell antennas, was ranked 706th with three-year growth of 666% after ranking 688th last year.
• Colorado Health and Rehab, which was started in 2014 and operates four Strive Physical Therapy clinics, ranked 3,201st with three-year growth of 119% after ranking 1,171st last year.
• Commercial Insurance Group, which was started in 2009 and provides special insurance services nationwide, ranked 3,933rd with three-year growth of 89%.