Imagine climbing up over 4,000 places on one the most coveted lists of US companies in order to be placed as one of among the top 500. Crimcheck has accomplished this on the Inc. 5000 list over the course of just one year.
In 2017, our rank on the Inc. 5000 list was #4512. In 2018, our rank shot up to #428. Essentially, we climbed up an incredible 4,084 places in just 12 months. Wow! To make matters even sweeter, being #428 places us in the celebrated Inc. 500.
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The figures which enabled Crimcheck to break into the Inc 500 are impressive by any standard. The company posted a 3-year revenue growth of 1,166%. Basically, this means that the company’s revenue grew by an average of 388.67% per annum over the period from 2015 to 2017.
These are numbers that any company would be proud of. For a company in the background-screening business, these numbers are almost unbelievable. However, given the rigorous process Inc. uses for screening companies, one has no choice but to believe these almost insane figures.
Crimcheck’s impressive figures did more than just get us into the top 500 US companies of 2018. The company also scored top ranks at both state and city level. At the state level, Crimcheck was ranked 6th among the top companies in Ohio. When it came to the city level, Crimcheck was ranked the number one (#1) top company in Cleveland, Ohio. This basically means that we recorded the fastest-revenue growth in Cleveland, OH area over the past three years.
What’s the Big Deal?
Getting into the Inc 500 is the premier goal for most eligible companies in the US. This is because of what the list has grown to represent since 1982. Back then, the list was simply a rank of the best-performing companies in terms of revenue growth. However, nowadays the situation is quite different.
Today, the Inc. 500 celebrates entrepreneurial ingenuity, vision, and business innovation. More than just an editorial award, the list showcases the ultimate embodiments of American enterprise. The top-ranked company in 2018, for instance, is a 5-year-old company (founded in 2013) which grew by jaw-dropping 75,661%
Now, Crimcheck’s 1,166% growth may seem paltry compared to the #1 ranked company (which is called SwanLeap, BTW). However, this is a great achievement for two major reasons:
For starters, this the first time that a background-checks company is breaking into the Inc. 500. No background check company has ever even gotten close to the Inc. 500. Basically, just like we have been blazing trails through innovative service-delivery in the background-checks industry, it seems we’re setting the pace yet again.
Secondly, the sheer competitiveness of the last three years makes our achievement all the more special. The period from 2015 to 2017 was fiercely competitive in the background checks industry. This is because – as job recruitment numbers started rising – companies started jostling to reap the opportunities. Therefore, the competition in the industry was stiff – and we held our own.
What makes this even more special is that we were up against companies from other industries as well. This includes companies in industries like construction (which surged as the US economy boomed between 2015 and 2017). Coming up against such companies and still posting impressive growth figures makes us quite proud.
What is the Inc. 500?
The Inc. 500 is an annual list of US companies published by the iconic business magazine – Inc. The history of the list goes back to 1979 when Inc. published a list of the 100 fastest-growing companies in the US. In 1982, the list was expanded to 500 – and the Inc. 500 was born. An extended version of the list – the Inc. 5000 was created in 2007.
However, the Inc. 500 is still one of the most coveted lists to be included on by US companies. Most companies desire to be on the list – since the Inc. 500 is considered the gold standard of business growth. For a company to qualify to be included on the list, it must be based in the US, privately held and independent (i.e. it shouldn’t be a subsidiary of a bigger company).
All the companies in the Inc. 5000 (of which the Inc. 500 is a subset) are ranked based on one criterion. That is the percentage growth achieved over the previous three years. This means that the 2018 ranks are based on revenue growth from 2015 through 2017. Each company is first pitted against itself – with its percentage revenue growth over the last 3 years calculated. The percentages are then used to rank all the companies.
In order to qualify for the list, a company’s revenue stream has to meet one numerical benchmark. Its annual revenue in the first year of the 3-year period must be a minimum of $100,000. The revenue for the most recent year must be at least $2 million. Only companies whose earnings meet these benchmarks are qualified to be on the Inc. 5000 – and by extension, the Inc. 500 list.
Still A Long Way To Go
We’re just getting started. That’s right. 27 years in the game and we’re just getting started! Although we joyfully celebrate our past achievements, our eyes are really focused on the future. We still want to continue setting the pace. Making our clients happy. Making our staff members proud.
We still have a long way to go. A brilliant future beckons us, and we march steadily towards it. In that future, Crimcheck is striving to be the #1 background check company in the US. In that future, we still blaze the trail. We still set the bar. We’re still the benchmark. And our clients are extremely happy with us, retaining clients at a 98% rate.
We thank you, our clients and employees, for working together to make this happen.