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Article

Utah Well Represented on Inc. 500’s 2013 List

By Rachel Madison

August 23, 2013

Eleven companies from Utah are featured on the annual Inc. 500 list of the fastest-growing companies in the United States this year. One company—Goal Zero—even made the top 10.

Goal Zero, a Bluffdale company that makes solar power recharging kits that can recharge everything from smart phones to refrigerators, was No. 9 on the list. The company has experienced a three-year growth of 16,981 percent and had $33.1 million in revenue in 2012. The company was founded in 2009 and currently employees 97 people. Goal Zero was also named one of Utah Business’ Emerging Eight this year.

Lisa Janssen, public relations coordinator for Goal Zero, said it was exciting to be ranked No. 9 on the Inc. 500 list because of the youth of the company.

“To be recognized so early on and to be so young but to be growing fast reassures us that we’re doing the right thing,” she said. “To come from our small roots in Utah and work for a business that has a mission that employees believe in makes it an honor to receive such an accomplishment.”

Janssen said the company has been able to grow quickly and successfully because of the vision of its founder Robert Workman and its president and CEO Joe Atkin.

“We’ve pretty much established a brand-new category for people with solar and portable power,” she said. “Our whole mission of empowering people is such a tip of the iceberg for us. There’s still so much more we can do.”

Salt Lake City-based Equinox Business Solutions was No. 75 on the list and second in Utah. The company provides business services, fuel analysis and consulting for transportation industry companies. The company experienced a three-year growth of 4,235 percent and raked in $82.6 million in 2012. The company employs 140 people. Equinox also made Utah Business’ Fast 50 list this year. The company’s rank on the Fast 50 list will be announced at a luncheon event on Aug. 27.

Sitting at No. 98 on the Inc. 500 list is Salt Lake City-based VRx, a company that provides pharmacy benefit and medication therapy management services to self-insured employers and health plans. Over the last three years, VRx has grown by 3,479 percent and now employs 67 people. It earned $72.4 million in 2012.

No. 145 on the list was a Utah company named Finch. The Lehi-based company provides a managed, cloud-based service that optimizes Google AdWords to help clients gain market share through increased revenue, profits and leads. Finch grew by 2,593 percent over the last three years and earned $2.9 million in 2012. The company employs just six people.

West Valley City-based Silencerco, a company that manufactures firearms silencers, made the list at No. 202. It grew by 2,084 percent over the last three years and earned $6.3 million in 2012. Silencerco employs 51 people. The company was also named to Utah Business’ Emerging Eight this year.

Snap Advances provides business financing in the form of working and expansion capital, merchant cash advances, credit card processing and merchandise financing to small and midsize businesses. It sits at No. 220 on the Inc. list. The Salt Lake City-based company experienced three-year growth of 1,925 percent and had $21.9 million in revenue in 2012. It employs 40 people.

American Fork company iDrive Logistics earned the No. 260 spot on the list. The company helps clients manage shipping costs by auditing invoices to correct overcharging and providing data management and reporting platforms. It grew by 1,653 percent over the last three years and earned $11.3 million in 2012. The company has just seven employees.

Vetora, a company that sells packaging and shipping supplies as well as electronics accessories is No. 329 on the list. The Orem-based company grew by 1,311 percent over the last three years and earned $4.2 million in 2012. The company employs 21 people.

Complete Merchant Services, a company that provides electronic payment processing services to retail, mobile and e-commerce businesses across the country, is No. 341 on the list. It grew by 1,271 percent over the last three years and earned $31.1 million in 2012. The Orem-based company employs 32 people.

HireVue in South Jordan made the list at No. 347. The company provides a digital interviewing platform in which candidates interact with an application instead of a live person and respond to preprogrammed questions with their webcams. Over the last three years, it grew by 1,251 percent and earned $5.8 million in 2012. It employs 83 people.

KT TAPE in Lindon rounded out the Utah companies on the Inc. 500 list at No. 354. The company manufactures a tape that athletes wear to provide support, foster healing and relieve the pain of sports injuries. It grew by 1,239 percent over the last three years and earned $9.1 million in 2012. It employs 19 people.

Inc. magazine determined this year’s list by measuring revenue growth from 2009 to 2012. The companies had to be founded and generating revenue by March 31, 2009, and they had to be U.S.-based, privately held, for profit and independent as of Dec. 31, 2012. Revenue figures and employee counts are as of Dec. 31, 2012. 

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