Waltham, Mass. – August 23, 2006 – Inc. magazine today announced its 25th annual Inc. 500 ranking of the fastest-growing private companies in the country. OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, ranks No. 22 on the list, with a three-year sales growth of 2,033%. The Inc. 500 list appeared online on August 23 and can also be found in the September print issue which is available on newsstands now and will be available online on September 19.
“OpenPages is extremely pleased to be recognized for the second year in a row by Inc. Magazine as the 22nd fastest-growing private company,” said Michael J. Duffy, president and CEO of OpenPages. “Our exceptional growth again this year is quite an accomplishment for us. We attribute this continued momentum to our passion for success and the fast-growing Business Governance enterprise software market. As more organizations embrace Business Governance as part of their corporate culture, OpenPages is proud to be leading the movement towards the well-run, better governed business.”
The 2006 Inc. 500, as revealed in the September issue of Inc., reported the most robust bunch of companies the magazine has ever compiled, with aggregate revenue of $19.7 billion, up from $16.5 billion last year and $12.9 billion in 2000. The two largest companies on this year’s Inc. 500 are the biggest ever to make the list – No. 170 Western Refining ($3.4 billion in revenue) and No. 376 Newegg.com ($1.26 billion) – and the third and fourth companies in Inc. 500 history to crack the billion-dollar mark. In all, 14 companies topped $200 million in annual revenue, compared with 11 last year.
Most important, the 2006 Inc. 500 companies were engines of job growth, having created more than 90,000 jobs since those companies were founded.
This year’s list is the first to include businesses that started up immediately before and after September 11, 2001 – including the No. 1 company and 20 companies in the top 50 – as well as many companies that had to raise capital after the dot-com bubble burst. In total, 104 companies listed on this year’s Inc. 500 were started after 2000.
“If you want to find out which companies are going to change the world, look at the Inc. 500,” said Inc. Editor Jane Berentson. “These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can’t live without. The Inc. 500 list is Inc. magazine’s tribute to American business ingenuity and ambition.”
Inc. 500 Methodology
The 2006 Inc. 500 list measures revenue growth from 2002 through 2005. To qualify, companies had to be U.S.-based, privately held independent – not subsidiaries or divisions of other companies – as of December 31, 2005, and have at least $600,000 in net sales in the base year.
About Inc. Magazine
Inc., http://www.inc.com, the only major business magazine dedicated exclusively to owners and managers of growing private companies, delivers real solutions for today’s innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Inc., a Mansueto Ventures LLC publication, inspires and informs, with cutting-edge coverage that reflects our readers’ energy, brashness, and imagination.
OpenPages is the leading provider of integrated risk management solutions for global companies. The OpenPages Governance, Risk and Compliance (GRC) Platform empowers a risk-based approach to identify and manage key business risks across the enterprise. This approach enables companies to focus on what’s important and to avoid unexpected outcomes while improving performance. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in the United Kingdom, distribution partners in Japan and South Africa and regional offices throughout North America.
For more information on OpenPages' governance, risk and compliance solutions, please click here or call us at 781.693.5999.
