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On August 6, 2024
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2024 Fast Growth 150: The Top 25 Solution Providers
Here are the top 25 companies on this year's CRN Fast Growth 150 list, which ranks solution providers with gross annual sales of at least $1 million by their two-year growth rate. These are challenging times for solution providers as they navigate both ongoing economic uncertainty and a rapidly changing technology landscape as artificial intelligence remakes the IT industry. The annual CRN Fast Growth 150 recognizes solution providers who are not just succeeding today but recording double-digit and triple-digit growth rates. The list ranks solution providers with annual sales of at least $1 million by their average two-year growth rate (this year for 2022 and 2023). The 25 solution providers with the fastest growth rates appear in the following slide show. Some have grown organically while others have grown through a combination of organic growth and acquisitions. Overall, this year's Fast Growth 150 recorded an average two-year growth rate of 135 percent. That's down a bit from the 145 percent average for the 2023 Fast Growth 150 class, but up from the 93 percent growth recorded by the 2022 Fast Growth 150. The 2024 list includes some well-known names in the channel such as Converge Technology Solutions (No. 69), Trace3 (No. 105), Winslow Technology Group (No. 136) and World Wide Technology (No. 150). This year's list also has many solution providers appearing for the first time including the top six. No. 2-ranked Uprise Partners, based in Portland, Maine, provides IT, cybersecurity and software engineering services for small and mid-size businesses. No. 6-ranked RapidScale, headquartered in Raleigh, N.C., offers professional and managed IT services and cloud solutions. Here we present the 25 solution providers with the fastest growth rates, starting with No. 25 and working our way to the solution provider with the fastest growth. The complete Fast Growth 150 list can be found at crn.com.
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Fast Growth 150: No Speed Bumps Here On The Road To Success
Overall, this year's Fast Growth 150 recorded an average two-year growth rate of 135 percent. That's down a bit from the 145 percent average for the 2023 Fast Growth 150 class, but up from the 93 percent growth recorded by the 2022 Fast Growth 150. These are challenging times for solution providers as they navigate both ongoing economic uncertainty and a rapidly changing technology landscape as artificial intelligence remakes the IT industry. The annual CRN Fast Growth 150 recognizes solution providers who are not just succeeding today but recording double-digit and triple-digit growth rates. The list ranks solution providers with annual sales of at least $1 million by their average two-year growth rate (this year for 2022 and 2023). The 25 solution providers with the fastest growth rates appear in this slideshow while the complete Fast Growth 150 list can be found here. Driven Technologies, a New York City-based provider of IT professional and managed security services, tops this year's Fast Growth 150 list with an amazing 4,690.7 percent two-year growth rate. Fueling the company's organic growth is the company's "secure, modernize and connect" strategy and Armor methodology that takes a security- and applications-first approach to customer engagements - unlike legacy resellers that start at the hardware/network level. Driven's growth is also due, in part, to the company's acquisition of New York solution provider Yotta Connect in March 2023. Overall, this year's Fast Growth 150 recorded an average two-year growth rate of 135 percent. That's down a bit from the 145 percent average for the 2023 Fast Growth 150 class, but up from the 93 percent growth recorded by the 2022 Fast Growth 150. The 2024 list includes some well-known names in the channel such as Converge Technology Solutions (No. 69), Trace3 (No. 105), Winslow Technology Group (No. 136) and World Wide Technology (No. 150). This year's list also has many solution providers appearing for the first time including the top six. No. 2-ranked Uprise Partners, based in Portland, Maine, provides IT, cybersecurity and software engineering services for small and mid-size businesses. No. 6-ranked RapidScale, headquartered in Raleigh, N.C., offers professional and managed IT services and cloud solutions. Trace3 is making its first appearance on the Fast Growth 150 since 2019 with a two-year growth rate of 63.7 percent. Some of that growth is due to its purchases of Lasalle Solutions in April 2022 and Set Solutions in April 2023. But much of the solution provider's growth is organic and in September, at the Irvine, Calif.-based company's Evolve conference, CEO Rich Fennessey vowed to grow Trace3's revenue from $2.5 billion to $4 billion by 2026. AI, data and analytics services will be a big part of that growth, Fennessey told CRN in January. "We believe the first set of conversations that we should be having with our clients is about their data. What is your most important data? How are you leveraging data today? How are you turning data into an asset that can help you fuel growth in the company? We believe in data and analytics as a topic. It merges together with security and cloud and is at the heart of this whole AI topic. This is going to be a growing part of our business going forward and it feeds the rest of our business," he said. Coretelligent, a Needham, Mass.-based MSP, has made the Fast Growth 150 list in seven of the last 10 years and is here again in 2024 with a 52.8 percent two-year growth rate. Contributing to that was the September 2023 acquisition of fellow service provider Advanced Network Products, a deal that expanded Coretelligent's mid-Atlantic region presence and brought new expertise and new customers to the company. "The talent level of their team from an engineering prowess basis is very impressive," Coretelligent President and CEO Kevin Routhier told CRN in September. "We all know how hard it is to find tech talent. It's still a very tight job market. And we saw an opportunity to bring in a group that is very well versed in the Microsoft Azure stack and has done more work in terms of depth of integration within the Microsoft technology stack than most MSPs. We felt it was a very nice complement to the engineering structure that we currently have in place for our different practices." World Wide Technology (No. 7 on the CRN Solution Provider 500) made the 2024 Fast Growth 150 list with 48.9 percent two-year growth - impressive given that maintaining rapid growth can be a challenge as companies become significantly bigger. Working with IT startups with leading-edge products and seeing new technologies like generative AI as key opportunities to expand customer engagements are key aspects of WWT's growth, CEO Jim Kavanaugh said in October at the 2023 Xchange Best of Breed Conference.
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CRN's 2024 Fast Growth 150 list highlights the top-performing solution providers in the IT channel. These companies have demonstrated exceptional growth and innovation in a rapidly evolving technology landscape.
CRN's 2024 Fast Growth 150 list has once again spotlighted the most dynamic and innovative solution providers in the IT channel. This annual ranking celebrates companies that have not only survived but thrived in a highly competitive and ever-changing technology landscape 1.
The list's upper echelon, particularly the top 25 companies, has set a blistering pace for growth. These elite solution providers have demonstrated remarkable agility and strategic acumen, with some achieving two-year growth rates exceeding 300 percent 1. Such extraordinary performance underscores the robust demand for cutting-edge IT solutions and services across various industries.
What sets these fast-growing companies apart is their diverse approach to market opportunities. Many have found success by specializing in high-demand areas such as cybersecurity, cloud services, and digital transformation. Others have leveraged strategic partnerships with major technology vendors to expand their service offerings and client base 2.
The IT channel has faced numerous challenges, including supply chain disruptions, talent shortages, and economic uncertainties. However, the Fast Growth 150 companies have demonstrated remarkable resilience and adaptability. Many have implemented innovative hiring and retention strategies to secure top talent, while others have diversified their supply chains to mitigate risks 2.
A key factor in the success of these solution providers has been their early adoption and mastery of emerging technologies. Artificial Intelligence (AI), Internet of Things (IoT), and edge computing have featured prominently in the service portfolios of many Fast Growth 150 companies. By staying ahead of the technology curve, these firms have positioned themselves as invaluable partners to their clients 1.
Despite their rapid growth, many of the listed companies have maintained a strong focus on customer satisfaction. This customer-centric approach has not only led to high retention rates but has also driven organic growth through referrals and expanded engagements with existing clients 2.
As the IT channel continues to evolve, the companies on the Fast Growth 150 list are well-positioned to capitalize on future opportunities. Many are already investing in upskilling their workforce, exploring new technology partnerships, and refining their go-to-market strategies to ensure sustained growth in the years to come 2.
Sure and Klear AI, two innovative tech companies, have been featured on the prestigious 2024 Inc. 5000 list, recognizing their rapid growth and significant contributions to the American business landscape.
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A new ISG report reveals that U.S. public sector organizations are increasingly adopting complex hybrid cloud environments, driving demand for specialized service providers to manage these intricate systems.
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Dell Technologies introduces new solutions to simplify IT management and enhance resilience, while Commvault is recognized as a leader in enterprise backup and recovery software for the 13th consecutive time by Gartner.
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U.S. federal agencies are pushing forward with hybrid cloud strategies, balancing modernization efforts with tight budgets. A new ISG report highlights the challenges and opportunities in this digital transformation journey.
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Recent reports highlight the growing trend of hybrid cloud adoption in the UK and Asia-Pacific regions. Companies are leveraging these diverse cloud environments to address security concerns, ensure compliance, and enable innovative IT strategies.
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