A big lead
FedBiz growth rate puts it well ahead of others
The rapid growth of Leesburg-based FedBiz IT Solutions kicked the Fantastic 50 into overdrive for 2019.
FedBiz led the latest annual list of Virginia’s 50 fastest-growing private companies with revenue growth of 4,375.7% from 2014 through 2017.
By comparison, previous list leaders Ashburn-based B.E.S. Technology Inc. and Winchester-based Darkblade Systems posted growth rates of 2,709.2 and 1,848%, respectively, in 2018 and 2017.
The FebBiz growth rate also was much higher than the the other 49 companies on the 2019 list.
Nonetheless, the median growth rate of all 50 companies on the 2019 list, 404.62%, was slightly below the 2018 rate of 417%.
In addition to FedBiz, three other companies are Vanguard winners on this year’s list. They posted the highest revenue growth rates in their industry groups.
Those companies are:
- Service: U.Group, an Arlington-based advanced technology and creative design firm. Formerly known as ByteCubed, the company rebranded after the acquisition of Chief and two smaller firms.
- Technology: World Services LLC, an Alexandria-based IT services and management consulting company, with a rate of 984.9%.
- Retail/wholesale: Brandito LLC, a Richmond-based promotional marketing and corporate apparel company, with a rate of 268.5%.
No company qualified for the list under the manufacturing category this year.
Northern Virginia companies continued their longtime dominance of the Fantastic 50, occupying 40 of the 50 spots on the list. Seven of the companies are based in Hampton Roads, two are from Central Virginia, and one is from Blacksburg.
To be eligible for the list, a company must have recorded revenue of at least $200,000 in 2014. It also must have posted a profit in 2017 and have revenue of less than $200 million in its most recent fiscal year.
The Fantastic 50 winners were recognized at a banquet hosted by the Virginia Chamber of Commerce in early May at the Westfields Marriott Washington Dulles hotel in Chantilly.