Inc. Magazine today ranked Fargo-based mobile app development company Myriad Mobile on its 35th annual Inc., 5000 list, a ranking of the nation’s fastest growing private companies.
Myriad Mobile made the list by achieving 589% revenue growth over the past three years, and a ranking of 667 out of 5000 private companies, putting them in the top 13% in the nation. They were ranked second fastest growing company in North Dakota.
Raguse and Joraanstad
“Ryan [Raguse, co-founder] and I had a goal to be on this list for a long time,” Myriad Mobile CEO and co-founder Jake Joraanstad said.
The Inc. 5000 is an expansion of the Inc. 500, which ranks the country’s top 5000 fastest growing private companies according to percentage revenue growth over a four year period. The minimum revenue required for 2012 was $100,000; the minimum for 2015 was $2 million. The 2016 Inc. 5000 is ranked according to percentage revenue growth when comparing 2012 to 2015.
Myriad Mobile brought in $2.6 million last year and celebrated its fifth birthday in July, making it the first year they were eligible to apply to be considered for the ranking, Joraanstad said.
Myriad Mobile was founded in 2011 by Jake Joraanstad and Ryan Raguse, Chairman and co-founder, while students at North Dakota State University. In five years, Myriad has grown to 40 employees throughout the upper Midwest with headquarters in Fargo and multiple locations in the upper Midwest. Myriad has designed and deployed more than 350 projects for national brands including U.S. Bank, Bobcat, Minnesota Public Radio, American Express, Cargill and Monsanto. It recently launched new regional projects including Midco, Wanzek Construction, General Equipment, Blue Cross Blue Shield of North Dakota and Minnesota State University Moorhead.
“This is an exciting time for technology in the Midwest,” Joraanstad added. “Whether you’re an entrepreneur, company, student, or farmer – leveraging new technologies is translating to increased opportunities.”
“Our goal is to be on the [Inc. 5000] list as many years as possible,” he said.
Other North Dakota companies that made the list are listed here:
