A record 13 Colorado Springs area companies qualified for the Inc. 5000 list of fastest-growing private companies, surpassing the record of 11 set in 2009.
That Colorado Springs has so many fast-growing companies should come as no surprise to anyone tracking the local economy.
In the past two years, area employers have added nearly 14,000 workers and unemployment has fallen to near historically low levels. The booming economy has helped drive rapid population growth, an influx of new businesses and a red-hot real estate market.
“Our local businesses are always making great things happen, and it’s exciting to see their success recognized at a national level,” Dirk Draper, CEO of the Colorado Springs Chamber & EDC, said via email, of the Inc. 5000 rankings. The record number of area firms on the Inc. list “is yet another testament to our region’s thriving business climate.”
E&M Technologies of Monument headed the local list at 424th and was 11th in Colorado with 1,083% revenue growth between 2015 and 2018 to $9.8 million. The company provides information technology, software and application development, intelligence analysis, education and training services to military, civilian and business customers through offices in Colorado Springs, Florida and Virginia.
E&M Founder and CEO Jean Schultz said the company’s 80 employees have “worked hard for the past few years and we are excited to be accepted for this list.”
She said the company’s growth has come as a result of work for intelligence agencies, nearly all secured by Steven Mayhew, E&M chief operating officer who spent nearly 11 years with Lockheed Martin and retired after 20 years with the Army Special Forces.
E&M’s major contracts include those with U.S. Northern Command, the Army Intelligence Command and as a subcontractor to Raytheon in modernizing the Space Defense Operations Center.
Defense contractor Delta Solutions & Strategies made the list for the sixth time since 2007, ranking 2,773rd with 137% revenue growth between 2015 and 2018 to $12.1 million.
That puts the company in a select group of Springs firms that have made the list at least six times — Braxton Science & Technology Group, also six times; Intelligent Software Solutions (now part of Parsons), nine times, and Infinity Systems Engineering, 10 times.
Last year, eight Springs area companies made the Inc. list, up from seven in 2017 and six in 2016. Colorado had 156 companies on the list, headed by Denver-based Cannabidiol provider NuLeaf Naturals, which grew nearly 12,000% between 2015 and 2018.
Among other Colorado metro areas, Denver had 105 companies on the list, Boulder had 22, Fort Collins had four, Greeley had three and Grand Junction and Pueblo had one each. Phoenix-based advertising and marketing firm Freestar topped the national list with three-year revenue growth of 36.680% to $36.9 million.
Other Colorado Springs companies on the list are:
• ConcealFab, which ranked 688th with three-year revenue growth of 634% to $13.7 million. The company was started in 2007 to design and make enclosures to conceal antennas.
• V3Gate, which ranked 752nd with three-year revenue growth of 581% to $225.8 million. The company made the list for the fourth consecutive year, down from 462nd last year. V3Gate was started in 2007 to provide information technology services to government agencies.
• Colorado Health & Rehab, which ranked 1,171th with three-year revenue growth of 353% to $2.9 million. The company was started in 2014 and provides physical therapy services.
• Advance Your Reach, which ranked 1,433rd with three-year revenue growth of 288%. The company was started in 2006 to help consultants and entrepreneurs develop online courses.
• Peak Dental Services, which ranked 1,679th with three-year revenue growth of 244%. The company made the list for the third consecutive year, up from 2,192nd last year. Peak was started in 2008 to provide dental practices with marketing and other services.
• Magneti, which ranked 1,915th with three-year revenue growth of 209%. The company made the list for the second consecutive year, down from 1,666th last year. Magneti was started in 2010 as a digital marketing agency.
• SocialSEO, which ranked 2,122nd with three-year revenue growth of 190% to $7.4 million. The company made the list for the third consecutive year, up from 2,263rd last year. SocialSEO was started in 1997 to provide search-engine optimization, online marketing and social media services.
• Colarelli Construction, which ranked 3,327th with three-year revenue growth of 108% to $49.3 million. The company previously made the list in 2008 at 268th. Colarelli Construction was started in 2003.
• Xtivia, which ranked 4,060th with three-year revenue growth of 79% to $50.7 million. The company previously made the list in 2014 at 4,670th. Xtivia was started in 1992 to provide technology and consulting services.
• The Complete Child, which ranked 4,258th with three-year revenue growth of 72% to $2.2 million. The early education provider was started in 1995.
• Summit Wealth Group, which ranked 4,504th with three-year revenue growth of 65% to $9.2 million. The company previously made the list in 2017 at 4,319th. The financial planning and wealth management provider was started in 2002.
To make the list, companies had to be founded and generating revenue by March 31, 2015, and have 2015 revenue of at least $100,000 and 2018 revenue of at least $2 million.
Contact Wayne Heilman 636-0234 Facebook www.facebook.com/wayne.heilman