The 5,000 fastest-growing private companies in the United States in 2022 include 40 in Connecticut; likely businesses that most state residents are completely unfamiliar with. Yet, when Inc. magazine put together it’s highly-noticed annual list, they had each earned a slot, including one to break into the top 100.
The rapidly rising enterprises are in an array of industries, in geographic locations throughout the state, all reflecting accelerated growth at a time of economic uncertainty and an unsteady job market and supply chains. Through it all, more than surviving, they’re thriving.
Leading the local field is Stratford-based Athletic Brewing Co., which produces alcohol-free craft beer, with ranked 26th in the nation with remarkable 13,071% growth. It was the second fastest-growing food and beverage company in the nation, in its first appearance on the Inc. 5,000.
In highlighting the impressive ascent of Athletic Brewing, Inc. pointed out that “Bill Shufelt, 39, started his craft beer business in 2017 in a moribund segment of an otherwise booming industry: non-alcoholic brews. Shufelt bet that there were many nondrinkers like him who wanted lagers and IPAs that tasted better than water, and were fit for fancy dinners as well as the finish line.”
Added Shufelt: “It was very much an ‘If you build it, they will come’ leap of faith. Once the beer started to taste good, we began construction. We opened in May 2018, and there were no easy sales early on. I would go all over New England and do blind taste tests and show up at events.”
There were two additional Connecticut companies to reach the top 200: Point Pickup Technologies, a software company providing same-day fulfillment, delivery and flex worker solutions company (#143), and SponsorUnited, an advertising and marketing company (#145), both based in Stamford. Each experienced growth exceeding 3,000%, according to the data compiled by Inc.
Among the businesses earning a place on the Inc. 5000 are Connecticut companies Hybrid Pathways coming in 917th with 695% growth, CompassMSP ranked 1,095th and Choice Merchant Solutions ranked 1,876th, along with dvertising and marketing firm Newor Media (1,619th), Jumo Health (1,891st) and software company MNDTRST (3,195th). South Windsor financial services business RCN Capital ranked 2,083rd with 287% growth, and Synergy Fire Systems of Bristol ranked number 762 with 835% growth.
In addition to SponsorUnited, firms in the media, advertising & marketing space to reach the Inc. 5000 from Connecticut included Knocking (Fairfield), Quantum Digital Media (Stamford), Connext Digital (Bethel), Ring2Media (Weston), Digital Position (Simsbury), Newor Media (New Haven), and Rebel Interactive Group (Cheshire).
Rounding out the representatives from Connecticut was Monroe-based Church Hill Classics, manufacturer of diploma and award frames, (4,980th) with 81% growth.