Inc. Magazine Reveals Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000
HOUSTON, August 18, 2021 – Inc. magazine today revealed that Velentium – a professional engineering firm that specializes in the design and manufacturing of therapeutic and diagnostic active medical devices – is No. 1424 on its annual Inc. 5000 list, leapfrogging the firm’s own previous rank by more than 1,000 places. The Inc. 5000 program is the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent businesses.
“Our cultural emphasis on efficiency, consistency, and open communications, has helped our team grow beyond 100 staff members and meet increasing client demand for our end-to-end solutions,” said Dan Purvis, CEO of Velentium. “This ranking is a testament to the amazing efforts of our dedicated employees during an unconventional year. Furthermore, our growth is evidenced by the company’s expansion into new markets and maturing relationships with the top minds in our industry. As we look ahead, we are committed to meeting the high standards of modern regulators, purchasers, and consumers.”
Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
In late 2020, Velentium acquired Oasis Testing to expand its intelligent testing services in the energy sector and provide expertise in high-pressure, high-temperature testing and automated test systems powered by intelligent real-time data acquisitions and insights. The company also launched an embedded cybersecurity training and certification program to prepare medical device experts for the next generation of cyber threats. For more information, visit www.velentium.com.
Headquartered in Houston, Texas with operations globally, Velentium is a professional engineering firm that specializes in the design and manufacturing of therapeutic and diagnostic active medical devices for Fortune 500 companies and startups. The company offers world-class expertise in software, usability, cybersecurity, electrical and mechanical development for medical equipment. Velentium transforms IP into safe and secure products that will support healthcare professionals, patients and communities, and ultimately, change lives for a better world. For more information, visit www.velentium.com.
Inc. 5000 Methodology
Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2020 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 three decimal places. There was one tie on this year’s Inc. 5000. Companies on the Inc. 5000 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Vision Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
Linda Madden, Pierpont Communications for Velentium, email@example.com, 713-627-2223