Second consecutive year of recognition marked by 1,217% three-year revenue growth
MIAMI, Aug. 15, 2023 /PRNewswire/ -- Inc. Magazine has named ClassWallet as the 477th fastest-growing private company in America on its 2023 Inc. 5000 ranking revealed today. It's the second consecutive year ClassWallet has made the list, rising 302 positions from number 779 in 2022.
Between 2019 and 2022, the company achieved 1,217% in revenue growth. In addition to its overall ranking, ClassWallet scores number 58 among Florida companies making the list and number 61 nationwide in software.
"Securing a position on the Inc. 5000 for a second year is a testament to the hard work, support and relentless pursuit of excellence amongst our employees, business partners and investors," said Jamie Rosenberg, founder and CEO, ClassWallet. "Our team is steadfastly focused on ensuring that public funds reach the right people and are used for the right purpose. We are a team of authentic, innovative problem-solvers that value life balance and gratitude. Being true to our mission and our values is why ClassWallet is recognized as the leading purchasing and reimbursement platform for public funds."
"Running a business has only gotten harder since the end of the pandemic," said Inc. Editor-in-Chief Scott Omelianuk. "To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future."
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year's top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year's Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.'s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
About ClassWallet
Founded in 2014, ClassWallet is the leading purchasing and reimbursement platform for public funds. The company's patented digital wallet technology ensures that public funds get to the right people and are used for the right purpose with full compliance safeguards. ClassWallet is used by state government agencies and school districts across 32 states, helping those clients realize the full potential of over $2.7 billion in public funds. Its integrated marketplace of top retailers and service providers includes Amazon, Office Depot, Home Depot, Best Buy, Staples, Michaels, Scholastic, Varsity Tutors and more.
Headquartered in Hollywood, Florida, ClassWallet has been ranked number 477 on the prestigious Inc. 5000 list of the fastest-growing private companies in the U.S. in 2023, and the 61st fastest growing software company in the nation. It also ranks as the 155th fastest growing company in North America according to the Deloitte Technology Fast 500.
CONTACTS:
Doug Wright / Henry Feintuch / Ashley Blas
Feintuch Communications
646-753-5711 / 646-753-5710 / 646-753-5713
classwallet@feintuchpr.com
SOURCE ClassWallet