InCircuit Development Corporation, a leading provider of asset, surplus and fleet management software, today announced that it has been named to the 2009 Inc. 5000 list of Fastest Growing Private Companies in America by Inc. Magazine.
“Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate,” said Inc. 5000 project manager Jim Melloan. “That’s why our list is so eagerly anticipated every year.”
The Inc. 5000 is ranked according to percentage revenue growth from 2005 through 2008, and provides the most comprehensive look at America’s independent-minded entrepreneurs. To qualify, companies must be U.S.-based, privately held, and independent. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million. Once qualified, the final list is determined through an extensive screening process administered by Inc. The top 10 percent of companies on the list comprise the Inc. 500, now in its 28th year. Inclusion in this list lands InCircuit in elite company with past honorees including giants such as Microsoft, Oracle, Timberland and Intuit.
“We are honored to receive this distinction,” said Darrin Daigle, President of InCircuit Development Corporation. “This prestigious recognition is a testament to the dedication and hard work of our employees. It’s also a harbinger of the market’s acceptance of our innovative approach to providing enterprise applications in the Software as a Service (SaaS) model.”
InCircuit (incircuit.com) has provided SaaS solutions for over a decade, and has the experience and infrastructure critical to capitalizing on this burgeoning technology. Their unique approach to asset, warehousing and fleet management applications allows customers to deploy and configure enterprise class software in a fraction of the traditional time and cost. By leveraging the efficiencies of the on-demand model, InCircuit can also scale its solutions down to provide enterprise reliability and security to clients as small as one or two users.
The 2009 Inc. 5000 Breakdown
The 2009 Inc. 5000, unveiled today on Inc.com, serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy.
This year’s list also offers a preview of which industries are poised for growth in coming years. With an average growth rate of 667 percent, Insurance ranked as the top industry overall. Government Services was the top industry gainer with 252 companies on this year’s list, up from 135 last year. Health is the top industry by both total revenue ($22.7 billion) and total employment (156,223 jobs).
IT Services had the most companies on this year’s list with 658, followed by Business Products & Services (502), Advertising & Marketing (398), Construction (354), and Manufacturing (342).
About InCircuit Development Corporation
InCircuit Development Corporation (InCircuit.com) is a leading provider of on-demand Enterprise Asset Management (EAS) software solutions. For over fifteen years, InCircuit has worked with managers in government, higher education and businesses of all sizes to manage over $15 billion worth of assets. InCircuit’s modular SaaS approach enables its users to manage assets, inventory, surplus and fleet more efficiently, increasing the profitability and effectiveness of its over 1,200 customers.