Minnesota’s Fastest Growing Private Tech Companies from the 2011 Inc. 500|5000



Inc., the magazine “written for the people who run growing companies” recently released it’s annual ranking list of the country’s top 5,000 fastest-growing, private companies with an emphasis on the top 10 percent of the list—the ‘Inc. 500.’

“The 2011 Inc. 500|5000 is ranked according to percentage revenue growth from 2007 through 2010. To qualify, companies must have been founded and generating revenue by March 31, 2007. Additionally, they had to be based in the United States, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2010.

The minimum revenue required for 2007 is $100,000; the minimum for 2010 is $2 million. Revenue figures given in the company profiles are for calendar years, as are employee counts. Full-time and part-time employees are included in the employee counts; independent contractors are not.”

There’s a total of 82 companies listed from Minnesota, 17 of which we’ve identified as product-based technology companies (down from 20 last year).

E-commerce is well represented in Minnesota, as Bloomington-based ShopJimmy.com ranked 2nd overall in this market (#224/5,000), followed closely by BulkReefSupply.com (#258/5,000) and iBuyOfficeSupply.com (#413/5,000).  The highest ranking Minnesota tech firm from last year (#226), Jobs2Web, remains in the top tier again, coming in at #419.

The information below provides a unique glimpse inside some of Minnesota’s fastest growing privately held high tech companies, according to Inc. Magazine:

Company Rank 3 yr. growth 2010 Rev Employees Founded HQ
ShopJimmy 224 1426% $5.6m 53 2007 Bloomington
BulkReefSupply 258 1248% $3.9m 16 2007 Golden Valley
iBuyOfficeSupply 413 830% $4.6m 8 2005 Plymouth
Jobs2Web 419 824% $9.9m 84 2003 Minnetonka
MetroSpec Technology 439 795% $3.2m 20 2001 Mendota Heights
USI Wireless 514 650% $5m 44 2000 Minnetonka
WaterFilters.net 576 566% $10.3m 25 2002 Zumbrota
Code42 Software 610 536% $11.5m 45 2001 Minneapolis
Mspace 1552 178% $16.3m 38 2002 Minnetonka
Knowledge Marketing 1746
153% $5.8m 27 2004 Plymouth
OATI 3632 44% $51.1 280 1995 Minneapolis
ImageTrend 3759 40% $11m 118 1998 Lakeville
Hanson Communications 3832 38% $27.9m 101 1982 Willmar
MedNet Solutions 4085 30% $11.2m 48 2001 Minnetonka
CotterWeb Enterprises 4452 19% $14.8m 29 2000 Mendota Heights
Video Guidance 4821 8% $9.1m 27 1999 Bloomington
Third Wave Systems 4879 6% $5.9m 35 1995 Minneapolis





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