This is the firm’s third consecutive appearance on the annual list of America’s fastest-growing private companies
HOUSTON, August 24, 2022 – Today, Inc. magazine revealed that Velentium – a Houston-based professional engineering firm specializing in the end-to-end design, development, manufacturing and post-market support of therapeutic and diagnostic active medical devices – ranked No. 3629 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy’s most dynamic segment—its independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“Our company’s continued growth is a testament to the endless commitment and dedication of Velentium staff to changing lives for a better world,” said Velentium CEO, Dan Purvis. “While growing well past 100 employees, we are proud to preserve an emphasis on culture – efficiency, consistency and open communication – and providing end-to-end solutions for clients and partners in medical devices. Over recent years, Velentium has ventured into new markets and industries, while cultivating relationships with top minds across the country in medtech, energy, and manufacturing. Looking ahead, our team is committed to exceeding the highest standards of today’s manufacturers, regulators, purchasers, and consumers.”
The companies on the 2022 Inc. 5000 have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Among the top 500, the average median three-year revenue growth rate soared to 2,144 percent. Together, those companies added more than 68,394 jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available August 23.
“The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated,” says Scott Omelianuk, editor-in-chief of Inc. “Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today.”
In late 2021, Velentium announced a growth recapitalization in partnership with Connecticut-based Great Point Partners (GPP), a leading health care investment firm. Since then, GPP’s investment has allowed Velentium to scale national operations and fuel emerging opportunities as part of our global expansion and mission to develop life-changing technologies.
Striving to educate next generation of engineers, Velentium also partnered with the University of Colorado Boulder for a medical device cybersecurity course and capstone project this year. Led by Garrett Schumacher, Cybersecurity Lead at Velentium, the course focused on embedded cybersecurity and secure product development, while the capstone project focused on machine learning and artificial intelligence in relation to threat modeling. In addition to this university program, Velentium designed and launched a formal training program last year – Mastering Embedded Cybersecurity – on how to implement cybersecurity best practices, following the publication of the bestselling textbook Medical Device Cybersecurity for Engineers and Manufacturers, co-authored by Christopher Gates, Velentium’s Director of Product Security. Velentium is working with multiple partners to bring this training to the world, recently announcing a masterclass partnership with BIOMEDevice Boston for its upcoming conference September 28-29, 2022.
Velentium is a Houston-based professional engineering firm specializing in the end-to-end design, development, manufacturing and post-market support of therapeutic and diagnostic active medical devices. The company's core competencies include active implantable medical devices, systems engineering, firmware & software, cybersecurity, mobile & cloud, electrical & mechanical engineering, human factors & usability, automated test systems, and CGMP manufacturing. With customers all over the world, Velentium has experience working with all sizes of clients, ranging from startups seeking seed funding to established Fortune 500 companies. For more information, visit www.velentium.com.
More about Inc. and the Inc. 5000
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 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. The top 500 companies on the Inc. 5000 are featured in Inc. magazine’s September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
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 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, visit http://conference.inc.com/.