It’s been a good news week for us at Modus Create! Inc. Magazine released its 2015 list of the 5,000 fastest-growing private companies in America, and we were #639. What’s better, Modus Create was the top ranked software company in the entire Washington, D.C., Virginia and Maryland area on this 2015 list.
To tout just a little, we’ve had a 715% growth in three years, brought in $5.7 million in revenue in 2014 and ended last year with 45 employees worldwide. In a press release distributed yesterday, Pat Sheridan our co-founder and CEO said that our growth was based on the belief that “innovation and software product development are now synonymous. We help firms build the right thing, by improving their software factory and better estimating risk complexity and scope. And we’re not stopping here. In the next few months, we’ll be announcing big plans to grow our brand even further.” Jay Garcia, our co-founder and CTO, added that “Technical thought leadership and core engineering are the foundation of our growth. Our team is stellar — we’ve gone after the best engineering talent in the world, in over 6 countries and 10 US states. One thing is clear: we all speak software.”
The Inc. 5000 list was revealing in that the Washington D.C. metro area was listed as Inc’s second highest growing metro area, with 279 local companies represented. Virginia was also among the top five fastest growing states. Additionally, the software industry as a whole is showing tremendous growth, ranked number five, only behind energy, media, advertising & marketing and financial services. (But you knew that already, right?)
Here’s how the Inc. 5000 is calculated: It ranks the country’s top 5000 fastest-growing private companies according to percentage revenue growth over a four-year period. To qualify, companies must have been founded and generating revenue by the first week of the starting calendar year, and therefore able to show four full calendar years of sales. Additionally, they had to be U.S.-based, privately held, and independent. Revenue in the initial year must have been at least $200,000, and revenue in the most recent year must have been at least $2 million.