Minneapolis is home to more than just the Minnesota Twins and the Artist Formerly Known as Prince. The 14th-largest metropolitan area in the U.S., is also home to 85 companies on this year's Inc. 5000.
Minneapolis is the largest city in the state of Minnesota, nurturing industry giants such as Target, Best Buy, Pillsbury and General Mills. It's also the second-largest economic center in the Midwest--lagging just behind Chicago--with major business sectors including publishing, milling, food processing, education, and more.
The 2014 Inc. 5000 tracked company performance, including the three-year revenue growth rate, between fiscal years 2010 and 2013. Here's a list of the top 10 companies that are benefitting from all that this Twin City has to offer:
10. Mainstream Boutique
A franchisor of boutiques that sell women's clothing, accessories, and giftware, Mainstream reeled in an impressive $11.3 million in revenue in 2013, a 219 percent rate of growth over its sales in 2010. As of this year, Mainstream, which is headed by CEO Marie DeNicola, has added 160 jobs since 2010.
9. True Source IT
Headed by CEO Brad Arthur, True Source has been providing IT services to local businesses throughout Minnesota since its founding in 2007. The company looks to be on the right track. This year, True Source claims No. 1,786 on the Inc. 5000, having grown its revenue by 232 percent to $6.9 million in 2013 from 2010.
8. Trexin Consulting
The eighth fastest-growing, Minneapolis-based startup is another IT services company (are we detecting a trend?), offering specialized management and business technology consulting to its customers. With the slogan "Big Ideas, Big Results," Trexin has grown its revenue to a massive $18.1 million in 2013, with an overall three-year growth rate of 244 percent. (Incidentally, it added 56 jobs during that time.)
Founded in 2005, under the leadership of CEO Marvin Richardson, Trexin clocks in at No. 1,717 on the overall Inc. 5000.
7. The Nerdery
Founded in 2003, the Nerdery is true to its name: It's an interactive production shop that engineers and executes websites, social media, and mobile apps. Begging potential customers to "talk nerdy to us" on its website, the Nerdery is more than a fun, hip brand name--it solidly earns its' spot as No. 1,600 on the Inc. 5000, with a three-year growth rate of 266 percent.
Adding 298 jobs over the period, the Nerdery is led by CEO Mike Derheim.
This startup, which filed for IPO in April 2014, buys unwanted life insurance policies and pays five to eight times more than the surrender value offered by the insurance company. Founded in 2006, GWG has grown its revenue by 272 percent over the past three years, ringing in at No. 1,570 on the Inc. 5000.
Headed by CEO Jon Sabes, this is GWG's debut appearance on the list, with an impressive 2013 revenue of $33.1 million. "Financial decisions are part of life," the company trumpets on its site, and customers certainly seem to agree.
The third of four IT services firms to make it onto our top 10 fastest-growing companies in Minneapolis, Agosto is thriving under the leadership of CEO Irfan Khan. The fifth fastest-growing company in the metro area, and No. 1,343 on the Inc. 5000, Agosto caters to more small and midsize businesses, with a focus on Google services such as Google Apps, Google Cloud Platform and Google Enterprise Search services.
Boasting an impressive $7.7 million in 2013 revenue, the 13 year-old company has grown by more than 322 percent over the past three years.
4. Code 42
Founded in 2001, Code 42 added 285 jobs over the past three years, with CEO Matthew Dornquast at the helm.
The third fastest-growing startup in Minneapolis, PowerObjects is another IT services company, and provides Microsoft Dynamics customer relationship management. Clocking in at No. 1,260 on the Inc. 5000, PowerObjects was founded way back in 1993: Today, it can boast a 3-year growth rate of over 344 percent, and Inc. calculates its’ revenue for 2013 to be $15.1 million. This is the company’s debut appearance on the Inc. 5000, under the leadership of CEO Dean Jones.
MentorMate is a seasoned honoree of the Inc. 5000, making its third appearance at No. 833. This software company specializes in full-scale mobile and Web application development, and also lays claim to the title of 2nd fastest-growing company based in Minneapolis.
Led by CEO Bjorn Stansvik, MentorMate has grown its revenue by a whopping 545 percent over the past three-years, though it was founded in 2001. It also created 111 jobs during that time, and Inc. calculates that it earned $9.6 million in revenue in 2013.
1. Field Nation
The fastest-growing private company in Minneapolis is Field Nation, an online platform that operates much like a social network for employers and independent contractors around the globe. With CEO Mynul Khan at the helm, Field Nation has grown by more than 1,073 percent since 2010, earning $43.3 million in revenue in 2013. This year marks the company's second appearance on the Inc. 5000.