“Our agents and agency partners are among the best in the business and take pride in helping people reduce risk and increase wealth for better outcomes."
-Tyler Rees, IFG Founder and CEO
BY JOHANNA F. STILL, POSTED AUG 16, 2022
Multiple Wilmington businesses were included in Inc. Magazine’s annual ranking of the nation’s top 5,000 fastest-growing companies.
Released Tuesday, the Inc. 5000 ranks companies in the U.S. based on three years of revenue growth, with this year’s list spanning from 2018 to 2021. Companies must be independent and have generated at least $2 million in revenue last year to be eligible.
At the top of the Wilmington-area rankings is Innovative Financial Group, a Wilmington-based company with 50 local employees.
The firm ranked 78th with a massive three-year growth spurt of 5,232%, according to the ranking. The company provides a platform to insurance agents and managers to help grow their brand, according to the Inc. bio. With a national brokerage distribution of over 10,000 agents and more than 3,500 licensed Medicare agents, Innovative Financial Group assisted 13,000 clients in 2020 with navigating benefits. Last year, the company’s client base grew fourfold and will continue to this year, officials project, estimating it will help 175,000 seniors.
Founder and CEO Tyler Rees said the firm’s rapid growth and diverse platforms are unprecedented in the industry.
"When a company is recognized for its tremendous growth, it is always a testament to an incredible team. Our culture is centered around family and relationships. Our organization's support system makes our foundation so solid and tremendous growth possible. We pride ourselves on providing the best possible solutions for agents, clients, and carriers, offering a full-service platform that attracts agents within the Medicare, Life insurance, and retirement planning space,” he said. “Our agents and agency partners are among the best in the business and take pride in helping people reduce risk and increase wealth for better outcomes."
LRB Group, a technology services firm that provides talent for IT and businesses, according to the Inc. bio, ranked 277th. The firm grew nearly 2,000% in a three-year period and was founded in 2018. According to CEO Luke Vasold, LRB Group "helps global companies implement, optimize, and support their enterprise IT/HR systems (i.e., Workday, SAP, etc.)," he said Tuesday. "We achieved the Inc. 5000 milestone by keeping our heads down, building strong relationships with our clients and consultants, and doing quality work, as reputation is everything in this business."
Local startup Vantaca, which is in the midst of an expansion, had nearly 1,000% growth, ranking at 628, up from last year’s ranking at 679.
“We are thrilled that Vantaca has been recognized for the second straight year on the Inc. 5000 list,” CEO Ben Currin wrote in an email. “Our focus on our culture, team, and customer experience has fueled our growth over the past several years – we believe continued investment in these core areas will help us continue to accelerate our growth into the future.”
Topsail Steamer, which expanded into Wrightsville Beach in 2018, landed at 913 on the list. The low-country boil service business has six locations and is opening up a seventh in Florida this fall.
“It is an honor to once again be recognized for our team’s hard work and commitment to growth, as well as be named among leading businesses from across the country,” Danielle Mahon, Topsail Steamer president and CEO said in a release. “Despite constant challenges that have been thrown at our industry, our team has faced them together head-on, and found ways to not only pivot but innovate our product and the experience that we provide to our customers.”
Check out other local companies that made it on the list below or peruse all 5,000 here.