Inc. Magazine Unveils Its First-Ever List of the Midwest’s Fastest-Growing Private Companies —The Inc. 5000 Series: Midwest
Stoneridge Software Ranks No. 237 on the inaugural 2020 Inc. 5000 Series: Midwest With Two-Year Revenue Growth of 96% Percent
Inc. magazine has revealed that Stoneridge Software is No. 237 on its inaugural Inc. 5000 Series: Midwest list, the most prestigious ranking of the fastest-growing private companies in Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the Midwest economy’s most dynamic segment—its independent small businesses.
“It’s always great to be recognized, especially among businesses in the Midwest where our offices are located, but that is never the goal. Our goal is to always focus on being the best partner for our clients. We do that by hiring the right team with not only the necessary skills, but also a strong sense of curiosity and a growth mindset. The world of technology is constantly changing and our team is always looking to stay ahead of the curve and find ways to bring value to our clients’ businesses,” says CEO Eric Newell. “Our success is due to our client-centric focus and a priority of providing a supportive environment for our team to do the best job possible.”
The companies on this list show stunning rates of growth across all industries in the 12 Midwest states. Between 2016 and 2018, these 250 private companies had an average growth rate of 360 percent and, in 2018 alone, they employed more than 27,000 people and added $13 billion to the Midwest’s economy. Companies based in the Chicago, Detroit, and Cincinnati areas brought in the highest revenue overall.
Complete results of the Inc. 5000 Series: Midwest, including company profiles and an interactive database that can be sorted by industry, metro area, and other criteria, can be found at inc.com/inc5000-series-midwest-2020.
“The companies on this list demonstrate just how much the small-business sector impacts the economies of each Midwest state,” says Inc. editor in chief Scott Omelianuk. “Across every single industry, these businesses have posted revenue and growth rates that are beyond impressive, further proving the tenacity of their founders and CEOs.”
Methodology for the Inc. 5000 Regional Series
The 2020 Inc. 5000 Regional Series is ranked according to percentage revenue growth when comparing 2016 and 2018. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2018. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2018 is $1 million.
About Stoneridge Software
The desire to found Stoneridge Software began with the vision of creating an organization that would serve as a strategic business partner, successfully delivering software implementation projects, and in turn helping clients realize a better return on their investment. Stoneridge attributes much of its success to its ability to tackle and deliver complex projects, and a focus on creating a great internal work culture and client self-sufficiency. After just seven years in business, Stoneridge Software serves more than 500 clients.
Stoneridge Software has nearly 200 employees with offices in Barnesville, MN, Fargo, ND and Minneapolis, MN and a large remote workforce. Stoneridge specializes in business technology consulting with a focus on Microsoft Dynamics 365, Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, and Microsoft Dynamics CRM.