Here Are The Fastest-Growing Companies In RI

Growth is something everyone aspires to, and that goes double for new businesses. Inc. magazine, which focuses on small businesses and startups, recently released its annual report listing the 5,000 fastest-growing privately owned companies in the United States, and Rhode Island has five of them.

The 5,000 companies were ranked according to their percentage revenue growth from 2015 to 2018, according to the report. The list include firms in more than 25 different industries, including construction, real estate and software.

To earn a spot on the list, companies must have been generating revenue by March 31, 2015, and had a minimum revenue of $2 million by 2018. All the companies are privately held, for-profit and independent from any other larger company..

Here are the five Rhode Island companies on the fastest-growing list, including their location, national ranking for growth, the type of industry and annual revenue:

• No. 2939: IT Support RI, North Smithfield, 127 percent, IT management, $2.3 million
• No. 3011: Protocol Networks, Johnston, 123 percent, IT management, $5 million
• No. 3859: Best Practice Energy, Wakefield, 86 percent, energy, $3.6 million
• No. 3903: TribalVision, Warwick, 85 percent, advertising and marketing, $7 million
• No. 4908: (Add)ventures, East Providence, 55 percent, advertising and marketing, $15.2 million

The full national list can be seen here.

The top spot on the business magazine’s list goes to the advertising & marketing company Freestar, which is based in Phoenix, Arizona.

Here are the Top 10 fastest-growing companies in the United States:

1. Freestar — Phoenix, Arizona — 36,680 percent growth.
2. FreightWise — Brentwood, Tennessee — 30,548 percent growth.
3. Cece’s Veggie Co. — Austin, Texas — 23,880 percent growth.
4. LadyBoss — Albuquerque, New Mexico — 21,850% growth.
5. Perpay — Philadelphia, Pennsylvania — 18,166% growth.
6. Cano Health — Miami, Florida — 14,183% growth.
7. Bear Mattress — Hoboken, New Jersey — 13,481% growth.
8. Connected Solutions Group — Mechanicsville, Virginia — 12,565% growth.
9. Providence Healthcare Management — Cleveland, Ohio — 12,565% growth.
10. NOM — Los Angeles, California — 11,996 percent growth.

“The beautiful thing is, when you start making people more money and helping them run their businesses better, they typically have pretty big mouths,” says David Freedman, the co-founder of the No. 1-ranked Freestar, a company that sells solutions and services that help publishers make more money online by perfecting advertising operations.

Freestar had a revenue of $36.9 million in 2018.

Patch reporter Gus Saltonstall contributed to this report.