42 Connecticut Companies Among Nation's Fastest Growing

Connecticut by the Numbers

Connecticut boasts 42 companies on the Inc.5000 list, including 4 in the top 500.depositphotos.com image

A total of 42 Connecticut companies have earned a place on the 2021 edition of the annual Inc. 5000 Fastest Growing Companies in America, including one featured in the top 10. Widely considered to be the most prestigious ranking of the nation’s fastest-growing private companies, the list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses.

Shelton-based energy startup Budderfly Inc. topped the list in Connecticut – and ranked as the #10 fastest growing private companies. Budderfly, which helps businesses cut energy costs, had a three-year revenue gain of 22,486%, the largest percentage increase in Connecticut, according to the magazine.

Budderfly was one of 42 Connecticut companies that made the 2021 Inc. 5000, and one of four that made the Top 500. Other Connecticut companies earning a slot were Eastern Asset Funding, a Greenwich financial services company formed in 2016 (#58 with 6,069% growth); Norwalk wearable technology company Triax Technologies founded in 2012 (#107 with 3,820% growth); and Bloomfield medical equipment supplier Soma Tech Intl. (#163 with 2,582% growth).

Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year's list also proved especially resilient and flexible given 2020's unprecedented challenges, Inc. officials point out. Inc. ranks the companies based on percentage revenue growth from 2017 through 2020. The leading companies will be featured in the magazine’s September issue.

"The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled," says Scott Omelianuk, editor-in-chief of Inc. "Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we've lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people."

“We are humbled that Inc. 5000 has recognized Budderfly among America’s Top 10 fastest-growing companies,” said Al Subbloie, a serial entrepreneur who is Founder and CEO of the company. “Our sustainable energy solutions continue to deliver bottom-line results for our customers while paying environmentally friendly dividends in the form of carbon reductions.”

During the past year, Norwalk headquartered Triax, which conducts business throughout North America, added many new clients and industry verticals, including energy, mining and manufacturing, to its already established construction client base, according to company officials. At the outset of the COVID-19 pandemic, Triax developed the social distancing and contact tracing solution Proximity Trace, making Triax a critical partner in helping organizations create a safe work environment and keep their doors open.

"As we accelerate our growth using our wearable technology to bring data-driven insights to our clients, our focus remains on the mission of providing solutions to keep workers safer and worksites more efficient," said Robert Costantini, CEO of Triax.

Soma's main mission is to provide high quality new and refurbished medical equipment to healthcare facilities worldwide at affordable costs, according to the company, which was founded in Rocky Hill in 1992 before moving and expanding in Cheshire and then, in 2008, in Bloomfield.

Additional Connecticut companies included on the Inc. 5000 list include Inbox Health Corp. (New Haven), Green Street Power Partners (Stamford), IntelliBoard (Monroe), Waterfront Promotional Merchandixing (Westport), Choice Merchant Solutions (Hartford), Connext Digital (Bethel), Ring2Media (Westport), FCP Groton (Milford), Rebel Interactive Group (Southington), Diameter Health (Farmington), Boost Oxygen (Milford), MindTrust (New Haven), POWWR (Sandy Hook) and ASG Information Technologies (Wallingford). The full list can be seen here.

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