Two Minnesota tech firms among ‘America’s Most Promising Companies’


ForbesAmericasMostPromising1Two Minneapolis tech companies — Magnet 360 & Code42 — are among America’s Most Promising, according to Forbes.

“Over the course of four months we reviewed hundreds of applications from businesses across the country. The final assessment is based on growth (both in sales and hiring), quality of management team and investors, margins, market size and key partnerships. Then we spoke to each company to make sure we didn’t miss anything.”

#34 – Magnet 360: Provides a implementation and consultancy service.

Revenue: $26m as of January 2014
Industry: Business Services & Supplies
Founded: 2008
CEO: Scott Litman
Employees: 95
Founders: Scott Litman, Dan Mallin, Matt Meents
Headquarters: Minneapolis, Minnesota

#44 – Code42: Creates cloud-based back-up systems for consumers or companies.

Revenue: $40m as of January 2014
Industry: IT Software & Services
Founded: 2001
CEO: Matthew Dornquast
Employees: 328
Founders: Matthew Dornquast, Brian Bispala, Mitch Coopet
Headquarters: Minneapolis, Minnesota


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