With Three-Year Revenue Growth of 3,202 Percent, Fairmarkit Receives Ranking No. 159 Among America’s Fastest-Growing Private Companies
Today, Inc. revealed that Fairmarkit is No. 159 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.
“Appearing on the Inc. 5000 list for the first time, and ranking No. 159 overall, No. 18 in Software, and No. 5 in Boston is a major milestone in Fairmarkit’s growth. The momentum around tail spend management has been building over the past 4 years, and our over 3,000% growth is due to the innovative customers and partners that are committed to revolutionizing the way organizations buy and sell alongside the Fairmarkit team,” said Kevin Frechette, Fairmarkit CEO.
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.
“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.”
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, which will be available on August 23.
Fairmarkit continues to automate sourcing for some of the largest and most innovative procurement departments in the world, including bp, British Telecom, and Cabot Corporation. Fairmarkit has also recently been awarded a Gold Stevie Award winner for Autonomous Sourcing capabilities and has appeared in the Gartner Hype Cycle for Tail Spend Management, Autonomous Sourcing, and Supplier Discovery.