Inc. Magazine Unveils Its 2019 List of America’s Fastest-Growing Private Companies—the Inc. 5000
For the 3rd year in a row, Patra appears on the Inc. 5000, ranking number 2,605 with three-year revenue growth of 150 percent.
Inc. magazine ranks Patra number 2,605 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies, and 30th of the 70 on the list representing the insurance industry. The Inc. 5000 list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success.
The 2019 Inc. 5000 is ranked according to percentage revenue growth when comparing 2015 and 2018. To qualify, companies must have been founded and generating revenue by March 31, 2015 and they had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2018.
“Being part of this prestigious list is an honor. I am unbelievably proud of this company and everyone’s hard work. It absolutely takes all of us to earn a ranking on the Inc. 5000,” says Patra CEO John Simpson. “As Patra continues to evolve and offer more InsurTech solutions, a recognition like this serves as validation that we are doing exactly what we should be.”
Not only have the companies on the 2019 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists. The 2019 Inc. 5000 achieved an astounding three-year average growth of 454 percent, and a median rate of 157 percent. The Inc. 5000’s aggregate revenue was $237.7 billion in 2018, accounting for 1,216,308 jobs over the past three years.
“The companies on this year’s Inc. 5000 have followed so many different paths to success,” says Inc. editor in chief James Ledbetter. “There’s no single course you can follow or investment you can take that will guarantee this kind of spectacular growth. But what they have in common is persistence and seizing opportunities.”