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Vivint, a Provo-based home automation services company has been listed at number 46 on Forbes magazine’s annual ranking of America’s Most Promising Companies. The list includes one hundred privately held, high-growth companies. This marks the first year that Vivint has been named to the list.
Vivint’s inclusion on Forbes’ list comes after a busy year for the company, during which it crossed the threshold of $30 million in recurring monthly revenue — one of only three companies in its industry to do so. Since 2007, the company has experienced a growth rate of 400 percent.
Acquired in 2012 for more than $2 billion by Blackstone, Vivint was selected to the Forbes list for its growth (in both sales and hiring), the quality of its management team and its investors, product strength, margins, market size and key strategic partnerships.
“This honor is a shared achievement of the entire Vivint team,” said Todd Pedersen, CEO of Vivint. “We are committed to providing our customers with a smarter way to live and connecting them with the aspects of their lives that matter most—their homes, families, health, and businesses.”
Vivint’s offers home automation, home security and energy management. The company also provides Vivint Solar.
For the Most Promising list, Forbes looked for young, privately held companies, trying to pin down their trajectories by looking at a slew of variables. Over the course of six months, Forbes reviewed thousands of applications and turned to CB Insights, a Manhattan-based data research firm that specializes in assessing private companies, to refine the search.
To view the complete 2013 list of America's Most Promising Companies, visit www.forbes.com.