Ranking includes 610% revenue growth rate over three-year period
MIAMI, August 14, 2024 – Inc. revealed today that ClassWallet, the leading purchasing and reimbursement platform for public funds, is ranked as the 88th fastest-growing software company on its prestigious annual list of the fastest-growing private companies in America. This marks the third consecutive year that ClassWallet, ranked No. 815 overall, has made the list. Among software companies based in Florida, ClassWallet ranked ninth.
The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment — its independent, entrepreneurial businesses. Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, Patagonia, and many other household-name brands gained their first national exposure as honorees on the Inc. 5000.
“Since our founding, ClassWallet’s growth has always been driven by our team of dedicated employees who are committed to the shared purpose of unlocking the full potential of every public dollar,” said Jamie Rosenberg, ClassWallet Founder and CEO. “Being recognized again on the Inc. 5000 list is a testament to their outstanding customer support and continuous drive for innovation. We are honored to be a part of it, alongside so many thriving businesses that help drive our nation’s economy.”
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate is 1,637 percent. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
ClassWallet was once again recognized for its continued long-term growth, which included a revenue growth rate of 610% over a three-year period.
“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, who recently joined Inc. as editor-in-chief. “To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of Dec. 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 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.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
About ClassWallet
ClassWallet is the leading purchasing and reimbursement platform for public funds. A pioneer in financial and government technology, ClassWallet’s digital wallet technology is used by state and local agencies across 34 states to ensure public funds reach the right people for the right purpose. Since 2014, the ClassWallet platform has been used to securely and efficiently deliver more than $3.5 billion in public funds while maintaining customer loyalty and satisfaction which exceeds some of the world’s largest brands. Headquartered in Hollywood, Florida, ClassWallet ranks as the 88th fastest-growing software company on the prestigious Inc. 5000 list of fastest-growing private companies, and the 21st fastest growing financial technology company on the Deloitte Technology Fast 500 in 2023. In January 2024, ClassWallet was recognized by J.D. Power for Providing “An Outstanding Customer Service Experience” for Phone Support.
CONTACTS:
Jason Hart
Vice President, Communications
jhart@classwallet.com
