CHIGAGO, IL, August 23, 2007. . . Inc. magazine today named Norvax Inc., to the 26th annual Inc. 500 ranking of the fastest-growing private companies in the country. Norvax, Inc. ranks No. 105 with a three-year growth of 1507.5%. The company is among the top ten fastest growing software companies in the nation and is the highest ranking Chicago-based software firm to appear on the list.
"Becoming one of America's fastest growing companies is an important milestone for Norvax and underscores the rapid acceptance of our web-based solutions for the insurance industry, " said Clint Jones, Norvax Chairman and Chief Executive Officer.
"Inclusion in the Inc. 500 substantiates Norvax's role in the health insurance industry," said Brandon Cruz, Norvax President and CTO. "With the launch of our new consumer site, Go Health!, we are the first company to provide sales to brokers and agents while offering multiple channels for consumers to obtain health insurance.
Norvax Inc. is a leading developer of Web-based sales and online insurance marketing tools for the health insurance industry, helping insurance brokers, agents and carriers connect with customers and transact business more efficiently. From insurance websites to insurance software and lead management tools, the Norvax product suite lets insurance agents increase sales, cut administrative time and reduce expenses. Founded in 2001, Norvax is privately held and based in Chicago.
"If you want to find out which companies are going to change the world, look at the Inc. 500," said Inc. Editor Jane Berentson. "These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."
The 2007 Inc. 500, as revealed in the September issue of Inc. magazine (on newsstands August 28 - October 2), reported aggregate revenue of $16 billion and median three-year growth of 939 percent. Most important, the 2007 Inc. 500 companies were engines of job growth, having created more than 64,064 jobs since those companies were founded.
Complete information on this year's Inc. 500, including company profiles and a list of the fastest-growing companies that can be sorted by industry and region can be found at www.inc.com/inc5000.
The most notable median growth categories among Inc. magazine's list of the 500 fastest-growing businesses is in the Environmental Services category (which grew by 1,425.4 percent on average), followed by Food & Beverage (which grew by 1336.8 percent on average), Media (which grew by 1,179 percent on average), Health (which grew by 1,105.5 percent on average), and Telecommunications (which grew by 1,056.5 percent on average).
The largest business category is IT Services, with 55 Inc. 500 companies in this category. Advertising & Marketing and Human Resources (both with 48 companies), Government Services (38 companies), and Software (37 companies) round out the top five industries ranked on the 2007 Inc. 500.
Industries reporting the highest total revenue from 2003 - 2006 are Health ($3.2 billion), Real Estate ($2.1 billion), Advertising & Marketing ($1.14 billion), Human Resources ($883 million), and Retail ($873.6 million).
Founded in 1979 and acquired in 2005 by Mansueto Ventures, LLC., Inc. magazine (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 681,421, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.