SaaS Leader Named to Inc. 5000 for Second Consecutive Year; Experiences Notable Growth with Three-year Revenue Increase of Over 740% percent
BOSTON, Aug. 13, 2024 -- Appfire, the leading global provider of software that enhances, extends, and connects the world's leading platforms, today announced that it has ranked No. 617 on the 2024 Inc. 5000. Inc.'s annual list of the fastest-growing private companies in America provides a data-driven look at the most successful companies within the economy's most dynamic segment—its independent, entrepreneurial businesses. Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, Patagonia, and many other household-name brands gained their first national exposure as honorees on the Inc. 5000.
Appfire continues to reach new milestones, embrace innovation, and extend its team and offerings. The company's extensive portfolio of more than 100 apps helps teams tackle today's biggest challenges and adds value to the platforms they already use, including Atlassian, Microsoft, monday.com, and Salesforce. Serving knowledge workers in software development, work management and service management through its authentic and unique people-first approach to business, Appfire's annual recurring revenue (ARR) has grown from $10 million to over $200 million in just four years. This is especially notable given Appfire's product-led growth model. Instead of leveraging a sales team, Appfire's Channel team supports 700 channel partners to facilitate a significant percentage of the company's annual revenue. Additionally, Appfire's team has grown exponentially and has more than doubled in the past three years, going from just over 300 employees in 2020 to more than 800 today. This substantial growth is attributed to Appfire's steady organic hiring and strategic tuck-in acquisitions over the years.
"Appfire's continued growth and success would not be possible without the unwavering support of our partners and customers and the dedication of our incredible team," said Randall Ward, Co-founder and CEO of Appfire. "Great people build great businesses, and we have instilled this people-first mindset in all areas of our operations. To be recognized for a second year in a row by Inc. reinforces that Appfire is on the right path with this approach and fuels us to innovate further."
The Inc. 5000 class of 2024 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 is 1,637 percent. In all, this year's Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
In addition to maintaining its industry leadership and growth momentum, Appfire's number one core value, Be Human, is at the forefront of every decision and extends beyond Appfire and into the communities where its employees, partners, and customers live and work. Through initiatives such as Pledge 1% and Appfire's corporate social responsibility (CSR) program, Appfire Town, the company empowers its employees to give back, supporting the economic viability of its surrounding communities. Last year, Appfire Town impacted more than 940 organizations, with volunteers logging over 4,000 collective hours and donating more than half a million dollars to a range of causes. While the average industry employee engagement rate in CSR programs is roughly 26%, Appfire's team engagement is nearly 80%. Appfire also donated millions in software licenses in 2023. By prioritizing the success and competitiveness of its business—as well as supporting the well-being of its employees and local communities—Appfire demonstrates characteristics that are essential to business longevity and market authority.
"One of the greatest joys of my job is going through the Inc. 5000 list," says Mike Hofman, who recently joined Inc. as editor-in-chief. "To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year's honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce."
For more information on Appfire, visit www.appfire.com and follow along on X, LinkedIn, Life at Appfire, and Instagram. To learn more about job opportunities with Appfire, visit https://appfire.com/careers/open-positions.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 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 Appfire
Appfire is the leading global provider of software that enhances, extends, and connects the world's leading platforms to make work flow any way teams want to work, from planning to product ideation, product development, project delivery, and beyond. Appfire increases the value of platforms such as Atlassian, Microsoft, monday.com, and Salesforce, enabling teams to thrive and do their best work together. With more than one million users, Appfire's popular solutions are helping teams with Enterprise Collaboration, DevOps, Workflow & Automation, Product Portfolio Management, IT Service Management (ITSM), Document Management, Business Intelligence and Reporting, Administrative Tools, Agile Tools, Developer Tools, Time Tracking, Publishing, and Integrations. Appfire has been selling its popular software products on the Atlassian Marketplace since it first launched in 2012, and today Appfire has the most widely adopted portfolio of Atlassian apps across tens of thousands of customers worldwide. Learn more at www.appfire.com.
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 achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 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.
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