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AllCloud Named One of America’s Fastest-Growing Private Companies
San Francisco, CA (GLOBE NEWSWIRE) — AllCloud, the global cloud services provider, has been named to the Inc. 5000 list, published by Inc. magazine. The Inc. 5000 is an annual list of the nation’s fastest-growing private companies. A first-time honoree, AllCloud ranked #1349 on the 2020 list, with three-year revenue growth of 330%.
“Now more than ever, companies are adopting, using and growing their business through the cloud,” said Eran Gil, CEO of AllCloud. “The business value and cost savings have been well-documented, they just need help making it all happen. AllCloud is helping companies use the cloud to transform the way they do businesses. We’ve had a great run these past few years, and we’re just starting to hit our stride.”
Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists as well. The 2020 Inc. 5000 achieved an incredible three-year average growth of over 500 percent, and a median rate of 165 percent. The Inc. 5000’s aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs over the past three years.
“The companies on this year’s Inc. 5000 come from nearly every realm of business,” says Inc. editor-in-chief Scott Omelianuk. “From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism.”
The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
The annual Inc. 5000 event honoring the companies on the list will be held virtually from October 23 to 27, 2020. As always, speakers will include some of the greatest innovators and business leaders of our generation.