This year’s Inc. 5000 list of the country’s fastest-growing companies comes with some nice surprises for Boston’s innovation economy.
Several of Boston’s rising stars in technology have disclosed their revenues for the first time thanks to the list—among them networking tech firm Acacia Communications and next-gen home security system maker SimpliSafe. And the disclosures show larger-than-expected businesses at the companies (in my view, at least).
Maynard-based Acacia—who I’ve previously pointed to as an IPO contender—reports that revenues for last year reached $77.7 million, up from $374,000 in 2010, landing the company at Inc.’s No. 5 slot overall. That puts the company near the top among Boston’s largest privately held tech companies. (I most recently covered Acacia as one of the region’s “game changers” in tech and as one of Matrix Partners’ portfolio companies to watch in Boston.)
Meanwhile, Cambridge-based SimpliSafe, which raised a a hefty $57 million in May from Sequoia Capital, ranked at No. 119 on the Inc. list. The company’s revenues rose from $1.4 million in 2010 to $38.4 million last year—which places SimpliSafe, which had kept a fairly low profile in Boston until recently, among the largest tech businesses in Massachusetts as well.
The other big surprise on the list was Solectria Renewables‘ $61 million in revenues; it appears that the Lawrence-based solar inverter maker, which has been bootstrapped since its founding in 2005, has quietly grown into one of the biggest cleantech firms in Massachusetts.
A handful of the companies on the list (HubSpot, Wayfair, Bullhorn, Acquia, and Next Step Living) had previously disclosed their revenues for last year, while others, such as DataXu, had only hinted at it (the company’s revenues ended up reaching $118 million).
Here’s the list of 20 companies that we’ve been following at BetaBoston who appeared on the Inc. 5000 list this year.
Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
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