Atlanta-based nurse staffing platform SnapNurse has taken the No. 2 ranking in the 2022 Inc. 5000 Fastest-Growing Private Companies in America list.
SnapNurse had a 146,319% revenue growth between 2018 and 2021, according to the Inc. rankings. BlockFi, a financial services company focused on cryptocurrency, topped the list.
The annual ranking by Inc. Magazine shows the fastest-growing independent and private companies in the nation. Companies must apply to the magazine to be considered.
The ranking comes a year after SnapNurse parent company, SnapMedTech Inc., was named Atlanta’s fastest-growing private company.
The Covid-19 pandemic accelerated the company’s growth as hospitals and other healthcare facilities needed on-demand medical staff. In 2020, about 20,000 nurses used SnapNurse. That number grew to 160,000 the following year.
CEO Cherie Kloss expects the company to grow to a $1 billion valuation, she told Atlanta Business Chronicle in July 2021.
“There’s definitely been a paradigm shift in how hospitals are going to be employing nurses … Over the next five to 10 years, nurses will probably be 100% contractors," Kloss said at the time.
SnapNurse offers daily paychecks to the nurses on the platform, a practice that Kloss said has helped its growth.
In 2020, Atlanta data security company OneTrust LLC made the No. 1 spot with 48,337% three-year revenue growth. That company, which once had a valuation of more than $5 billion, laid off a fourth of its workforce earlier this year.
Last year, holding company Banyan Software topped Georgia businesses with the No. 16 ranking and 18,309% revenue growth.
Eight Georgia companies were included in the list’s top 100 ranked businesses, a decrease from 10 the previous year. Local companies that remained in the top 100 from last year were supply chain startup Stord and insurance platform RateForce.
There were a total of 223 Georgia businesses in the list, an increase from 210 the previous year. Those companies made a total of $14 billion in revenue and created over 21,000 jobs, according to Inc. 5000. Over 130 were repeat winners with 44 companies new to the list, including real estate marketplace PadSplit.
The slight increase of Georgia companies on the list is a result of three factors, said Morris, Manning and Martin technology attorney John Yates. The state maintains a business-friendly environment; there’s a wide range of industries, which protects it from recessionary climates, and Atlanta’s racial diversity attracts companies with diversity initiatives.
“In talking to investors in other sectors of the country, there is a strong feeling that Atlanta is underserved in the capital arena,” said Yates. “Atlanta is seen as a red-hot market for companies to expand because we've not been over-shopped.”
Here are the Georgia companies that made the top 100:
No. 2: SnapNurse - Nurse staffing platform that recruits, credentials, deploys and pays nurses the same day as their shifts.
No. 27: KGM Technologies - Sound suppressor company that specializes in weapon enhancement, material surface and coating technologies, weapon systems and original equipment manufacturing.
No. 36: RateForce - Insurance platform that compares rates for customers.
No. 40: Core Clinical Partners - Physician services company that specializes in emergency and hospital medicine.
No. 57: Stord - Supply chain technology company that helps mid-market businesses manage their deliveries.
No. 66: PrizePicks - Daily fantasy sports platform that allows fans to project statistical player performances.
No. 72: Neighborly Software - Cloud-based software platform that supports housing, economic, and community development program administration.
No. 86: Steady Platform - Financial service company that helps hourly workers decide where and how to work.
