Impressive sales growth for M2M cloud platform company showcases commitment to innovation and value of connected products.
Axeda Corporation announced today that it was named to the 2011 Inc. 5000 list for the second consecutive year.
The list is an exclusive ranking of the nation’s fastest-growing private companies, and represents a comprehensive look at the most important segment of the economy – America’s independent entrepreneurs.
Axeda was recognized for posting significant three-year sales growth from 2007-2010. The company joins other household names like Dunkin Donuts, Spirit Airlines, and television maker Vizio on this year’s list.
“In a stagnant economic environment, the companies on this year’s list report having created 350,000 jobs in the past three years,” said Inc. president Bob LaPointe. “The aggregate revenue among the honorees reached a remarkable $366 billion, up 14 percent from last year.”
Founded in 2000, Axeda is the leading cloud platform provider for connected products and M2M (machine-to-machine) applications. Its success has been driven by continued innovations that have made Axeda’s award-winning technology the choice for more than 150 major organizations such as Agilent Technologies, Diebold, and EMC. Axeda delivers true bottom-line benefits by making it quick and easy for businesses to connect any product on any network, and manage their connected products through the cloud.
“From vending machines to MRIs, ‘connected’ is becoming the standard,” said Jack Sweeney, CEO of Axeda. “Even the slowed economy has not put a harness on the creativity that we see coming from our customers — we continue to be amazed by the innovative solutions that they are developing on our platform.”
The 2011 Inc. 500 is ranked according to percentage revenue growth when comparing 2007 to 2010. To qualify, companies must have been founded and generating revenue by March 31, 2007. Additionally, they had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2010. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2007 is $100,000; the minimum for 2010 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000.