Fremont, CA-- Formac Inc featured in the annual list of America’s fastest-growing private companies—the Inc. 5000. The revered list is considered as the most prestigious ranking for up and coming companies of the nation. Formac registered a three-year 158% revenue growth for the period of 2016 to 2019, as mentioned by the list.
***Formac Inc ranks at No- 2592 with a 158% increase in growth***
The Inc. 5000 are companies based in the USA, privately held, for-profit, and independent. Notably, most of the renowned companies of the world- such as Zappos, Microsoft, and Patagonia- gained exposure by featuring on the Inc. 5000.
“In these uncertain times, validation such as these are proof of our collective efforts. With access to our financial data and expert insights, investors and businesses can make their expert decision as to why they should partner with us,” said Formac Inc President Ram Naresh. He also thanked the “existing stakeholder for their continued support towards ensuring a 158% revenue growth.”
Formac Inc has experienced tremendous growth over the last few years by being at the forefront of the adoption of new DevOps trends and best practices. With the Inc. 5000 exposure, they plan to acquire more clients and increase their collaboration efforts.
The complete results of the Inc. 5000, available on the Inc, magazine website, provides detailed information on company profiles with an interactive database that can be sorted by industry, region, growth percentage, and other criteria. The list states that 2020 Inc. 5000 achieved an incredible three-year average growth of over 500% with a median rate of 165%. The aggregate revenue of the 5000 companies stood at $209 billion in 2019, accounting for over 1 million jobs for the 2016-2019 period.
"The companies on this year’s Inc. 5000 come from nearly every realm of business. From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism." says Inc. editor-in-chief Scott Omelianuk.
About Inc. 5000: The 2020 Inc. 5000 is ranked according to percentage revenue growth with the data comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. The detailed list can be found online at http://www.inc.com/inc5000.The print issue of the magazine, Inc. September Issue will focus on the top 500 companies from the list. The annual Inc. 5000 event honoring the companies on the list will be held virtually from October 23 to 27, 2020. As always, speakers will include some of the greatest innovators and business leaders of our generation.
About Formac Inc: Formac Inc. is a privately-held company based in California, USA with operations in India and the world. The company operates in the software domain with a specialized focus on DevOps. With their industry knowledge, they provide scalable, consistent, and stable solutions to IT companies to guarantee timely and cost-effective software delivery.
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