Three-year revenue growth of 2,998 percent
Veda Data Solutions, a Madison, Wis.-based company that solves healthcare’s most complex provider data issues was named by Inc. as No. 176 on the 2023 Inc. 5000 list revealed today.
Among software companies, Veda was ranked 22nd and it was the highest-ranked company on the list from Wisconsin.
The Inc. 5000 is an annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the independent, entrepreneurial business segment. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.
“When we started Veda, we set out to make the healthcare industry more efficient and build a company that we could be proud of,” said Meghan Gaffney, CEO and co-founder of Veda. “Being named to the Inc. 5000 list validates our solution and vision and recognizes the Veda team who works tirelessly each day to help people access the care they need.”
Meghan Gaffney, CEO
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. This year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. Veda will also be included in the September issue of Inc. as the magazine highlights the top 500 companies.
About Veda
Veda blends science and imagination to solve healthcare’s most complex data issues. Through human-in-the-loop Smart Automation, our solutions dramatically increase productivity, enable compliance and empower healthcare businesses to focus on delivering care. Veda is simple to use and requires no technical skills or drastic system changes because we envision a future for healthcare where data isn’t a barrier—it’s an opportunity. To learn more about Veda, visit vedadata.com and follow us on LinkedIn.
More about Inc. and the Inc. 5000
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
