Women and Minority-Owned Businesses Make up 34% of the Montgomery County Companies on the Inc. 5000 List
A diverse cross-section of 41 Montgomery County, Maryland companies were recognized this week in the annual Inc. 5000 list of the fastest-growing, privately-owned companies. The 2021 list ranks companies by overall revenue growth over a three-year period from 2017-2020, with a median growth of 246 percent.
The local companies recognized for their significant growth include software, IT systems development, healthcare, biotech, consumer products, advertising & marketing, construction, government services and financial services. The companies on the Inc. 5000 list are dispersed across the county including Rockville, Bethesda, Silver Spring, Gaithersburg, Potomac, Burtonsville, North Bethesda and Germantown. The Montgomery County company profiles can be viewed in the PDF or story map.
Montgomery County’s 41 companies account for one third of the 138 from Maryland on this year’s list, the most of any jurisdiction in the state. The Montgomery County companies registered revenue growth ranging from 43 percent to almost 7318 percent.
Just as Montgomery County is one of the most ethnically diverse counties in the nation, with 138 languages spoken in our area schools, the list features a diverse group of companies as well. Nine of the companies are minority-owned while five are women-owned. Among them are ITegrity of Silver Spring, a federal government IT contractor; Rockville’s Audley Consulting Group, an IT Systems Developer; and Bethesda’s Corewood Care, a home care services company.
A total of 25 companies are ‘repeaters’ who have been on the prestigious list multiple times, including eight that have been recognized for at least three different years. Burtonsville’s INFINITY HR, a payroll and human resource company, has the distinction of making the list nine times. Rockville’s Communicate Health, a communications and design firm that boosts public health education, has enjoyed seven years of Inc. 5000 accolades, as has Rockville’s Transparent BPO, a business process outsourcer.
Among the Montgomery County companies, there is a prevalence in software, healthcare/bio and government services—a natural fit given access to the county’s highly educated workforces. Montgomery County is home to the highest concentration of Ph.D.’s in the country, and to world-class federal research institutions in science, health, medicine and cybersecurity such as the National Institute of Standards and Technology (NIST), the National Institutes of Health (NIH), the Food and Drug Administration (FDA) and the National Cybersecurity Center of Excellence (NCCoE), among others.
Four of the Inc. 5000 companies in Montgomery County have received MOVE grants, a local program designed to assist new businesses forming or moving to the county. It includes a one-time grant upon signing a lease. The MOVE grant recipients who are on the list and show extensive growth over three years: Bethesda’s Mytonomy, with 583% growth, develops remote healthcare platforms; Silver Spring’s Mindoula Health, a health management firm with 124% growth; Silver Spring’s ITegrity with 340% growth and Rockville’s fusionSpan, an IT company that is a CRM implementer and Salesforce partner with 243% growth.
“fusionSpan has had the amazing opportunity to be a part of a community bigger than ourselves. Receiving a MOVE Grant allowed our company to invest in the necessary resources needed to define a presence and establish a company culture,” said Gayathri Kher, Co-Founder & President. “As we grow in the Salesforce ecosystem, fusionSpan continues to look for opportunities to ensure our local community grows and succeeds with us!”
Rehab 2 Perform has made the Inc. 5000 list for the second year. The growing all-in-one physical therapy and performance company will open its sixth location this year. Founder and CEO Dr. Josh Funk is a local himself, having attended Poolesville High School, and says it was never a thought not to open his business in Montgomery County. “We are excited to be named as one of the fastest growing private companies in the U.S. for the 2nd straight year. The business landscape over the past year was extremely challenging, and to be able to continue our growth trajectory while keeping our team and community safe speaks volumes to the culture and dynamic of our team.”
“I’m especially pleased that our 41 recognized fastest-growing companies in the nation represent Montgomery County’s diverse business community so well. They come from all across Montgomery County and the spectrum of industry sectors,” said Benjamin H. Wu, President and CEO of the Montgomery County Economic Development Corporation (MCEDC). “Their recognition is a testament to the community we’re cultivating to develop and support entrepreneurs, startups and innovative growth. We celebrate the success of the companies on this prestigious list and look forward to seeing new additions in future years.”
Featured photo shows logos of successful companies from across the world.