No. 3363 in 2024. With a Three-Year Revenue Growth of 145 Percent
NASHVILLE, Tenn., August 13, 2023 – Inc. revealed today that Nashville, TN-based Inova Payroll ranks No. 3363 on the 2024 Inc. 5000, its annual list of the fastest-growing private companies in America. This marks the seventh time in Inova’s 13 years in business that it has been named to the distinguished Inc. 5000.
The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, Patagonia, and many other household-name brands gained their first national exposure as honorees on the Inc. 5000.
“We are delighted to join such an elite group of high growth Inc. 5000 recipients,” stated Joe Schweppe, Inova CEO. “We know this honor is not possible without our associates who take pride in our values and are inspired by our mission to drive people to success through an unwavering dedication to empathy, kindness, superior service, and innovative solutions. The entire Inova organization thanks our loyal clients who recognize the value of personal service and relationships.”
Inova provides a comprehensive unified suite of human capital management (HCM) solutions to employers nationwide while maintaining a personal, high-touch service standard. Through innovative technology and exceptional support, Inova provides its clients all the tools they need to positively engage with their employees, whether through an accurate and timely paycheck, a stress-free benefits enrollment process, or streamlined management of their paid time off. Inova also provides services that enable our clients to operate more efficiently and effectively through Inova Benefits with its full suite of group benefits and HRExperts, our outsourced HR division.
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate is 1,637 percent. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. All 5000 companies are featured on Inc.com starting Tuesday, August 13, and the top 500 appear in the new issue of Inc. magazine, available on newsstands beginning Tuesday, August 20.
“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, who recently joined Inc. as editor-in-chief. “To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”
More about Inc. and the Inc. 5000
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
