Detroit-based fintech ranks #1 in Detroit, #2 in Michigan and #249 overall
DETROIT, Aug. 21, 2023 /PRNewswire-PRWeb/ -- Inc. revealed today that Autobooks ranks No. 249 on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy's most dynamic segment — its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.
"We are honored and humbled to be recognized among some of the most influential companies of our time," said Steve Robert, CEO and Co-Founder of Autobooks. "The rate at which Autobooks continues to grow reflects our team's dedication to helping small business owners realize their full potential. Sending invoices and accepting payments is now standard functionality at more than 1,000 financial institutions, making it easier than ever to get paid and automate the back-office!"
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. Among this year's top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. 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," said 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."
"The last year has been challenging as we, like many high-growth companies have had to recalibrate to reduce cost and increase efficiency. This is a difficult thing for an organization to do," said Steve. "Yet, each time we faced adversity, our team dug in, narrowed focus, and worked cross-functionally and collaboratively to achieve amazing results. We have built a culture of over-achievers: pragmatic and disciplined thinkers that never lose sight of our customers' struggles. This was never more evident than seeing our organization rally around a new product launch — Tap to Pay on iPhone — allowing contactless payment acceptance for small business customers. This recognition is validation of our many teams, and their grit and determination to overcome each and every obstacle that gets in their way!"
More about Inc. and the Inc. 5000
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. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23. For more information on the Inc. 5000 Conference & Gala, slated for October 31 - November 2 in San Antonio, visit http://conference.inc.com.
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 Autobooks
Detroit-based Autobooks is a provider of small business banking solutions that make it easier to get paid, manage cash flow, and automate accounting. Through Autobooks, financial institutions can provide essential back-office tools to better serve small and micro-businesses, directly within their existing digital banking channels.
To learn more, ask your financial institution about Autobooks or visit www.autobooks.co.
Media Contact
Megan Ahee, Autobooks, 1 (866) 617-3122, [email protected], https://www.autobooks.co/
SOURCE Autobooks
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