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NCino Tops List Of Local Companies On Inc. 5000 List

By Jenny Callison, posted Aug 17, 2016
Eight Wilmington-area companies made the 2016 Inc. 5000 list of the nation’s fastest-growing privately held companies, which was published Wednesday morning.
 
Topping the list of local companies at No. 220 is cloud-based banking software company nCino, which debuted on the annual rankings this year. Because companies must furnish three-year growth numbers, this was the first year that four-year-old nCino was eligible for consideration.
 
nCino posted a three-year growth of 1,805 percent and annual revenue of $13.1 million last year, according to the list. That made it the No. 5 company in North Carolina on report, and No. 15 among software companies nationally.
 
The other companies and their rankings this year are:

Off the Hook Yacht Sales at 594, with three-year growth of 657 percent and revenue of $14 million. This also was the first appearance on the list for Off the Hook, which was founded in 2012 and placed No. 13 among North Carolina companies this year;

N2 Publishing at 1056, with a 370 percent growth rate and $100 million in revenue. N2, which publishes specialty magazines and newsletters for residential communities, ranked No. 16 among media companies nationally. The company also falls under Inc.'s five-time honoree category, having made the list every year since 2011;

• A.R.C. Transit (formerly LoadMatch Logistics) at 2241, with 162 percent growth and $41.3 million in revenue. This year also marked its entrance to the five-time honoree level for the third-party logistics services company;

• 101 Mobility at 2960, with 116 percent growth and $3.8 million in revenue. 101 Mobility, which provides equipment for the disabled and elderly, first made the list in 2012;

• Filmwerks International at 3327, with 99 percent growth and $15.4 million in revenue. Filmwerks supplies power generators, site lighting, climate control and mobile studios for events and has made the list twice before;

• MyEmployees at 4369, with 60 percent growth and $10.9 million in revenue. Castle Hayne-based MyEmployees works in the human resources industry, providing employee surveys, training and recognition programs;

• and Go Energies at 4734, with 49 percent growth and $32.2 million in revenue. Go Energies, which helps with fuel management for clients, has made the list twice before, peaking at No. 10 overall in 2014.
 
nCino was the only Wilmington-based company that made the cut onto the Inc. 500 list, which since 1982 has highlighted high-profile, high-growth companies such as Zappos, SAS, LinkedIn and Microsoft, according to a news release.
 
Landing on the list is significant for nCino, company officials said.
 
“As we expand the reach of our technology and diversify our customer base, inclusion in the Inc. 500 ranking is an important benchmark that signals our progressive success,” CEO Pierre Naudé said in the release. “This accolade is a true testament to our relevance in the financial services space, and our focus on creating speed, convenience and transparency between banker and customer.”
 
According to company officials, nCino’s growth rate just this past year was 109 percent. The growth stems from expansion of the company’s customer base as well as its development of new products.

N2 officials also responded to the company's inclusion on the list Wednesday as a sign of its continued expansion.

"When N2 Publishing first made the Inc. 5000 list in 2011, the company saw its sales hit $12 million and its workforce reach 29. Six years and half a dozen appearances on the list later, the print powerhouse finds itself on the podium having topped $100 million in sales and 200 in staff," a release from the company stated.

Officials pointed out that N2 was the only media company on this year's list "to record revenues greater than $100 million – just 335 companies on the entire list broke that threshold."

“Being on this list means just as much now as it did the first year,” N2 co-founder and CEO Duane Hixon said in a statement. “While it offers proof that we continue to move the needle at a rapid pace, what it really shows is that we are building the right team to handle and steer that growth.”

For Jason Ruegg, founder of Off the Hook Yacht Sales and a 2011 graduate of the University of North Carolina Wilmington, finding out his firm had made the list has been both exciting and humbling, Ruegg said Wednesday.

"It has been obvious to our team that we have been rapidly growing, but it is nice to be recognized in ways like this," he said in an email. "I was hoping we would make it to the Inc. 5000, but to be ranked [594] was a nice surprise."

Last year, Ruegg moved his business from a small office in Wrightsville Beach to a 6,200-square-foot retail location at 6317 Market St. in Wilmington. He said Wednesday that Off the Hook's staff is nearing 15 full time employees, and he expects that number to grow.

"We have salesmen in North Carolina, Maryland and Florida right now. We opened a service facility down the road from us (we only service our own boats at this time), an office in Annapolis, Maryland, and we have a new office in Maryland under contract right now that is on 4.5 acres on a very busy hwy (Rt. 50)," Ruegg said in the email. "We are also in the process of opening a location in South Florida, and we are looking at potential locations in New Jersey and New York as well.  We are projecting our sales to double this year.  We are looking to hire 20 more brokers in the next year."

Ruegg attributed the company's rapid growth to having a unique environment.

"You have the high level of energy that comes with high-end retail sales, the excitement of helping customers find their dream boat, and of course the adrenaline rush that comes along with flipping boats as fast as we can," he said. "All of these elements contribute to our drive to be the best we can be, and produce as much as we can.  We have a self-motivated team that wants to dominate the marine wholesale industry."

This year's Inc. 5000 list measures revenue growth from 2012 to 2015, according to the magazine. The minimum required 2012 revenue was $100,000, and the minimum for 2015 was $2 million.
 
For more info about nCino and N2 Publishing's growth and future directions, pick up the Aug. 26 edition of the Greater Wilmington Business Journal. Staff writer Cece Nunn contributed to this report. 
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