Inc. magazine today revealed that Bushel, Inc. is No. 2144 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment— independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.
“This honor is a direct reflection of the work everyone on our team has done over the past year. While we definitely saw challenges during the 2020 pandemic, there was also tremendous opportunity as we saw the grain industry adopt digital tools such as e-sign capabilities at unprecedented rates,” said Bushel CEO and Co-Founder Jake Joraanstad.
Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020.
Since launching in 2017, Bushel’s platform has grown rapidly, now powering nearly 2,000 grain facilities across the U.S. and Canada with real-time business information for their producers. Bushel’s platform now reaches 40% of grain origination in the United States, resulting in inarguably the largest technology network effect among growers and grain buyers in the U.S. today. $22 billion of grain is contracted annually within Bushel’s ecosystem. Continued recognition on Inc. 5000 indicates that a company has increased revenue by over 100% year over year.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
