The number of Greater Baltimore companies on the Inc. 5000 list slightly increased this year, showing that some companies were able to achieve massive revenue growth even during the Covid-19 pandemic.
This year’s list, released on Tuesday, featured 63 local companies, up from 62 in 2021. The slightly better performance in Baltimore comes in spite of a decline in Maryland as a whole. 131 Maryland companies made the list, down from 138 in 2021.
The Inc. 5000 list is based on three-year-revenue growth from 2018 to 2021, which includes the two years impacted by the pandemic.
In Baltimore City, 13 companies, down from 14 last year, made the cut. Fintech company Facet Wealth came in at no. 46 and is the top-ranked company in Baltimore, notching a 7,383% growth in revenue in three years.
Facet Wealth provides financial planning services for the moderately wealthy, focusing on households with a net worth between $100,000 and $1 million. The company founded, in 2016, raised $100 million in series C funding in January, one of the largest venture capital raises in the state so far this year. The company had several other big fundraises in the past three years, raising $25 million in 2020, and $33 million in 2018. In January, Facet told the Baltimore Business Journal that it has more than 10,000 clients and employs more than 300 people in 42 states.
The list included 10 newly founded companies and 91 repeat honorees. Companies in Maryland brought in $2.7 billion in cumulative revenue, adding 10,570 new jobs and achieving a median growth rate of 195%.
BlockFi, a Jersey City financial services company, earned the top spot on the list nationwide, with a 245,616% growth in revenue.
Here are the 13 companies in Baltimore City that made the list, and how much their revenue grew over the past three years.
- No. 46 - Facet Wealth (7,383%)
- No. 669 - Chasen Cos. (940%)
- No. 750 - Canton & Co. (843%)
- No. 1794 - Elite Creative (341%)
- No. 2,268 - Pn Automation (258%)
- No. 2457 - Think Systems (236%)
- No. 2853 - Dominion Financial Services (192%)
- No. 2,932 - Fearless (185%)
- No. 3,465 - Mindgrub Technologies (150%)
- No. 3,552 - Contracting Resources Group (104%)
- No. 4,342 - AltvaVista Strategic Partners (104%)
- No. 4,590 - Response Labs (95%)
- No. 4768 - Planit Advertising (88%)
Here are the Maryland companies that ranked in the top 500, including their location, their ranking on the list and their three-year revenue growth.
- No. 46 - Facet Wealth, Baltimore (7,383%)
- No. 131 - 20/20 GeneSystems, Gaithersburg (3,512%)
- No. 182 - ROI Construction,Savage (2,865%)
- No. 254 - Global Alliant, Columbia (2,122%)
- No. 352 - Axiom Consultants, Rockville (1,656%)
- No. 368 - Windsor Group, Chevy Chase (1,603%)
- No. 372 - Trius Lending Partners, Towson (1,593%)
- No. 396 - Mytonomy, Bethesda (1,518%)
- No. 407 - Audley Consulting Group, Rockville (1,492%)
- No. 423 - Uscreen, North Bethesda (1,451%)
- No. 475 - DAS Federal, Gaithersburg (1,317%)
Readers can look at the whole list on the Inc. website.
Note this article has been update to include additional Baltimore companies that made the list.
