List of fastest growing private companies includes 22 from tri-county region
The Central Coast showcased the diversity of its companies in the latest edition of the Inc. 5000, as 22 companies based in tri-county region made the magazine’s list of the 5,000 fastest growing privately held companies in the country.
Of those 22 companies, seven were in the top 1,000, and they come from a variety of sectors, including health care, construction and food and beverages. The honorees were split throughout the region, with 10 based in Ventura County, nine in Santa Barbara County and three from San Luis Obispo County.
Released Aug. 16, the Inc. 5000 ranks companies that choose to participate based on their revenue growth between 2018 and 2021. Companies must be based in the U.S., privately held, for-profit and independent.
Inc. magazine requires companies to provide verification of their revenue but does not publish the revenue numbers, other than three-year percentage growth. Inc did highlight that the 22 tri-county companies generated $1 billion in revenue, and 14 of them were repeat honorees.
Topping the list, though, was a newcomer: Herbl, a Goleta-based cannabis distributor. Founded in 2018, Herbl is one of California’s largest cannabis supply chain companies, with operations in Goleta, Santa Rosa and Santa Ana, delivering to more than 1,000 dispensaries a day.
Herbl ranked No. 79 on the Inc. list, the only company from the region to crack the top 100, with a three-year growth rate of 5,227%.
Herbl CEO Mike Beaudry told the Business Times in April that by the end of its first full fiscal year in 2019, Herbl had already cleared north of $100 million in sales. It doubled that total in 2020, and its goal is to top $300 million in 2022.
Also new to the list this year is San Luis Obispo-based Precision Construction Services.
An honoree in the Pacific Coast Business Times’ Spirit of Small Business Awards in 2022, Precision ranked No. 266 on the list, the highest of any San Luis Obispo County company, with a three-year growth rate of 2,027%.
“It’s really exciting,” Karl Vaillancourt, principal and CFO at Precision, told the Business Times. “It’s validation of the fact that we’re doing something right and the team that we’re building is extremely effective — to see how we stack up nationally against all these other companies who are doing phenomenal growth, and to be pretty highly placed on that list.”
Precision is just one of 253 construction companies to make the list and, of those, is ranked No. 9. It is the fastest growing construction company based in California, according to Inc.’s rankings.
The company told the Business Times in July that it had cleared $20 million in revenue in 2021 and was on pace to clear upwards of $30 million in 2022.
“One of the reasons why we founded the company and part of our mission is to advance the industry. We see a huge opportunity for the construction industry itself to evolve and improve,” Vaillancourt said.
The complete list of companies in the region that made the 2022 edition of the Inc. 5000, with their overall rank, city and three-year revenue growth:
79: Herbl, cannabis distribution, Santa Barbara, 5,227% revenue growth
259: Tax Hardship Center, Westlake Village, 2,078%
266: Precision Construction Services, San Luis Obispo, 2,027%
502: KOS, Santa Barbara, 1,244%
543: HiView Solutions, San Luis Obispo, 1,154%
609: Advatix, Westlake Village, 1,041%
718: Well Health, Santa Barbara, 880%
1,813: CorpNet.com, Westlake Village, 336%
1,912: Ember, Westlake Village, 316%
1,954: ZeroBounce, Santa Barbara, 308%
2,175: PureSpectrum, Westlake Village, 272%
2,276: Digital Market Media, San Luis Obispo, 257%
2,420: LogicMonitor, Santa Barbara, 240%
2,728: HG Insights, Santa Barbara, 205%
2,735: Pacific OneSource, Simi Valley, 205%
3,061: Invoca, Santa Barbara, 176%
3,404: Leasepath, Westlake Village, 154%
3,858: Mission Wealth, Santa Barbara, 128%
4,337: Giant Partners, Thousand Oaks, 104%
4,355: Wingman Advertising, Westlake Village, 103%
4,455: TalentPerch, Thousand Oaks, 100%
4,622: FastSpring, Santa Barbara, 93%