Fairmarkit, the autonomous sourcing platform, ranks No. 604 on the 2023 Inc. 5000.
NEW YORK, Aug. 15, 2023 /PRNewswire-PRWeb/ -- Inc. revealed today that Fairmarkit ranks No. 604 on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America. Fairmarkit, the autonomous sourcing platform, transforms procurement and achieves growth by providing automation, AI, and most recently Generative AI solutions, that help our customers meet procurement targets at scale. This is the second year that Fairmarkit makes the list holding the 88th spot in Software, and 22nd place in Boston, where the company is headquartered.
"Appearing on the Inc. 5000 list for the second time is a major milestone in Fairmarkit's growth. What we have achieved over the previous three years is a testament to the innovative customers and partners that are committed to revolutionizing the way organizations buy and sell alongside the Fairmarkit team," said Kevin Frechette, Fairmarkit CEO.
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. In all, this year's Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
"Running a business has only gotten harder since the end of the pandemic," says Inc. editor-in-chief Scott Omelianuk. "To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future."
About Fairmarkit
Fairmarkit is the autonomous sourcing platform that empowers organizations to more efficiently purchase the goods and services they need. By equipping procurement and supply-chain teams with automation and data, Fairmarkit promotes competitive bidding while reducing manual work within existing processes. Leveraged across a number of industries by innovative procurement departments, such as Boeing, BP, Snowflake, Cabot Corporation, and Refinitiv, Fairmarkit aims to revolutionize the way organizations make purchases. Learn more at http://www.fairmarkit.com
More about Inc. and the Inc. 5000
Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 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 reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 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.
For more information on the Inc. 5000 Conference & Gala, slated for October 31 - November 2 in San Antonio, visit http://conference.inc.com/.
Media Contact
Shannon Pham, Fairmarkit, 1 6509961017, [email protected], www.fairmarkit.com
SOURCE Fairmarkit
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