If you hadn't heard, Utah happens to be an excellent state for business. Home to giants like Adobe, eBay, and Qualtrics, the state has also proved to be fertile ground for countless startups, earning the nickname the Silicon Slopes. Here are the 10 fastest-growing private companies in Utah, fresh off 2018's Inc. 5000 list.
10. Tranont
2018 Inc. 5000 rank No. 321 Three-year growth 1,529% 2017 revenue $11.4M
Tranont distributes dietary supplements, subscriptions, and financial products through a direct-to-consumer model. Like many multilevel marketing companies, the Lehi-based company, led by CEO Lorne Berry, relies on existing members to recruit new members.
9. Beddy's
2018 Inc. 5000 rank No. 270 Three-year growth 1,817% 2017 revenue $4.8M
Making your bed doesn't have to be exhausting. Beddy's takes some of the frustration out of tangled sheets. Helmed by Betsy Mikesell, the West Jordan-based company makes zippered mattress covers with a sheet sewn in.
8. American Business Brokers
2018 Inc. 5000 rank No. 197 Three-year growth 2,257% 2017 revenue $9.6M
Located in Salt Lake City, ABB facilitates the sale of businesses. It also provides services such as a market analysis and appraisals. With mergers and acquisitions breaking historical records in 2017, it's not surprising that ABB has landed itself on the Inc. 5000 list for the second year in a row.
7. Blue Fire Leads
2018 Inc. 5000 rank No. 190 Three-year growth 2,307% 2017 revenue $4.5M
Blue Fire Leads specializes in generating sales for installers of residential solar panels. Headquartered in Provo, the team, which numbered just 10 in 2017, also generates leads for flooring installers, pest control specialists, and several other home-centric industries.
6. Slingshot
2018 Inc. 5000 rank No. 146 Three-year growth 2,857% 2017 revenue $3.4M
Slingshot handles sales and service calls for pest-control companies. The Orem company serves almost a third of the 100 biggest U.S. pest-control companies. Co-founder and CEO Taylor Olson attributes his sales success to his days as a Mormon missionary.
5. iServe
2018 Inc. 5000 rank No. 141 Three-year growth 2,915% 2017 revenue $121.3M
iServe is a one-stop shop for ecommerce. The Lehi company's analytics platform tracks sales performance across all major online marketplaces. Paired with warehousing and distribution services, it's easy to see why brands like Skullcandy (another Utah native) rely on iServe to handle online sales.
4. Boomsourcing
2018 Inc. 5000 rank No. 86 Three-year growth 3,918% 2017 revenue $9.7M
Boomsourcing, once called Teleserve, helps companies scale by outsourcing professional services. The Lehi company provides everything from virtual assistants to remote bookkeeping and accounting. 2018 marks the company's second time on the Inc. 5000.
3. Taft
2018 Inc. 5000 rank No. 56 Three-year growth 4,795% 2017 revenue $5.7M
Taft is a direct-to-consumer men's footwear brand. The Provo company, founded by Kory and Mallory Stevens, started by selling socks exclusively. Today, it sells 52 styles of shoes and boots--and no socks.
2. Funded Today
2018 Inc. 5000 rank No. 27 Three-year growth 8,798% 2017 revenue $11.7M
Funded Today markets crowdfunding campaigns. The South Ogden company helps entrepreneurs get more pledges and provides a range of consulting services.
1. Podium
2018 Inc. 5000 rank No. 13 Three-year growth 13,645% 2017 revenue $30.2M
This Lehi company sells a suite of software services that allow businesses to interact with customers online. The platform began as a way for customers to leave reviews but quickly escalated into a messaging platform where customers can provide feedback and businesses can respond. Currently sites such as Salesforce and Intuit are integrated with Podium.