DAVIS, Calif., Aug. 15, 2019 /PRNewswire-PRWeb/ -- Engage3, which helps retailers and manufacturers manage their Price Image through accurate competitive data, data science, and Artificial Intelligence-powered software solutions, today announced that they have been included, for the third year in a row, in the prestigious Inc. 5000 List of Fastest-Growing Private Companies in the U.S.
Inc. editor-in-chief James Ledbetter, said "The companies on this year's Inc. 5000 have followed so many different paths to success. There's no single course you can follow or investment you can take that will guarantee this kind of spectacular growth. But what they have in common is persistence and seizing opportunities."
The list represents a unique look at the most successful companies within the American economy's most dynamic segment—its independent small businesses. Microsoft, Dell, Domino's Pizza, Pandora, Timberland, LinkedIn, Yelp, Zillow, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
Of the tens of thousands of companies that have been considered for this list over the years, only a fraction makes it to the list more than once. A mere 1 in 8 companies has ever made it to the Inc. 5000 list for three consecutive years.
"It's an honor to be awarded this prestigious recognition for a third year in a row. In addition to growing the company on a customer, revenue, and employee basis, we have been investing heavily in proprietary and disruptive pricing capabilities that enable retailers to measure and take control of their Price Image," said Ken Ouimet, Engage3's CEO and Founder. "The innovations will accelerate as we build out our Price Image Management Suite™ offerings," he added.
Not only have the companies on the 2019 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists. The 2019 Inc. 5000 achieved an astounding three-year average growth of 454 percent, and a median rate of 157 percent. The Inc. 5000's aggregate revenue was $237.7 billion in 2018, accounting for 1,216,308 jobs over the past three years.
We are very proud of our team for accelerating the company's growth in the midst of closing our Series C financing, implementing and expanding programs with the world's largest retailers, and adding disruptive capabilities to our product portfolio," said Edris Bemanian, Engage3's Chief Operating Officer. "We're fortunate that our customers and partners are the industry's thought leaders. Through these partnerships, we expect to continue our aggressive growth rate in the years to come," he added.
Engage3 was founded by the creators of KhiMetrics (acquired by SAP), who are credited with inventing the retail price optimization space. Engage3's leadership team is composed of former KhiMetrics, SAP, Revionics, dunnhumby, KSS Retail, and IBM/DemandTec executives.
Engage3's Price Image Management Suite™ helps retailers understand and manage their Price Image and align it with their sales and profitability objectives using predictive modeling. The suite includes Competitive Intelligence Management (CIM) - an AI-assisted, attribute-based, and data science-driven solution that provides accurate, granular competitive data (30 billion product pricing records collected annually in the U.S. and Canada) and like-item-linking visibility. CIM helps retailers reverse-engineer their competitors' pricing and assortment strategies across channels, markets, and items. Also included in the suite is Price Image Optimization (PIO) – a next generation pricing solution that defines the impact of strategic pricing alternatives and unlocks pricing recommendations based on a retailer's objectives for Price Image, sales, and profitability.
For more information, visit http://www.engage3.com.