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Wilmington Firms Make Inc. 5000 List

By Christina Haley O'Neal, posted Aug 14, 2019
Four Wilmington companies have ranked on this year’s Inc. 5000 list.

Inc. Magazine’s annual list of the top 5,000 fastest-growing privately held companies in the country was released Wednesday and on this year's list, the local area firms are Untappd (No. 221), Geo Owl (No. 1511), GigSalad (No. 1741) and MegaCorp Logistics (No. 2444). Find an interactive map of national growth based on this year's list here.

Companies on Inc. 5000 are ranked according to percentage revenue growth from 2015 to 2018, states the website.

Wilmington-headquartered Untappd came in sixth in the state in a long list of companies across North Carolina that made the 2019 ranking. The local technology firm was the top-ranked company in the state on last year's list, ranking at No. 150 among all companies in 2018.

Untappd develops social- and data-driven consumer and business software products related to beer.

"We're humbled to make the Inc 500 list for a third straight year. The team at Untappd is incredible. They work hard, believe in the mission and support one another as we continue to grow and face new challenges," said Kurt Taylor, founder and CEO of Untappd, in an email. "We believe this award is a great way to recognize and celebrate their many accomplishments over the past year."

This year Untappd reported its 2018 revenue at $10 million and a 3-year growth of 1,882%. The firm was founded in 2010.

The company has continued to grow at a strong rate so far in 2019, Taylor said Wednesday, adding that the company currently has 104 employees.

"We're excited to release some new products in Q4, and believe those will drive significant growth over the next several years," Taylor said. "This is an exciting time at Untappd. We have new products, new positions open and strong momentum. We think Q3 and Q4 will be the strongest quarters the company has ever had."

Wilmington-based MegaCorp Logistics’ ranking this year is up from its previous rank of No. 4230 on the 2018 list. The logistics and transportation firm this year reported $294.1 million in revenue in 2018 and a three-year growth of 163%. Its employee count is 279, according to the list.

"We are honored and excited to have made the Inc. 5000 list for the fourth time. It’s great to be recognized for our success and growth, which is due to the amazing relationships we have with our customers and carrier partners, and also the hard work and dedication of our fantastic employees; we would not be where we are today without each and every one of our team members," Ryan Legg, MegaCorp Logistics CEO, said in an email.

The company has "grown exponentially" since last year, he said. It has expanded its Cincinnati, Ohio office and is in the process of moving its Jacksonville Beach, Florida office to a larger location, expecting to be in by the fall.

MegaCorp Logistics is currently renovating its Elkins, West Virginia office to "better utilize the space," he said.

The company has also moved into its new, more than 45,000 square-foot headquarters on Ashes Drive in Wilmington, which features "a state-of-the-art gym with a personal trainer, on-site restaurant, on-site salon and barbershop, and so much more," Legg said. 

MegaCorp Logistics has celebrated 10 years since Legg and his wife founded the company in 2009, Legg said, adding that the company still maintains its family-like work culture a decade later.

This year the company is looking forward to continued growth, he said.

"We are revamping our technology to even better serve our team and clients. Our Florida office will be moving to a larger location in the fall and we will complete the additional amenities we are beginning to work on here in Wilmington ... we are looking forward to the road ahead," Legg said.

In another Inc. Magazine ranking, both Untappd and MegaCorp Logistics were among four Wilmington companies to make its list of Best Workplaces in 2019.

GigSalad, an online gig booking firm, made it on the Inc. 5,000 list for the fifth year. The company has two locations, in Wilmington and Springfield, Missouri. 

"This is our fifth time and it's just thrilling because it says that we're not one-hit wonders ... In fact, our growth has been consistent since our inception as a company back in 2007. We've always grown. We've always been profitable. It was only five years ago that we started publicly going out and sharing our numbers with places like Inc. 5,000," said Mark Steiner, co-founder and CEO of GigSalad.

The company reported $14.4 million in revenue in 2018 and a three-year growth of 233%. It has 26 employees. Steiner said, and there are about six employees at its development base in Wilmington. 

"My goal is to hit the [Inc.] 500, so that we could actually be featured in the magazine itself," Steiner said, adding that the company is on track for a record year.

New to the Inc. 5,000 list this year is Geo Owl, a geospatial intelligence operations company. Geo Owl reported $8.4 million in revenue in 2018 and a three-year growth of 273%. The company has 72 employees, according to the list.

“The inclusion of Geo Owl in the Inc. 5000 list is another indicator that we are making a huge impact for our customers by upsetting the status quo, truly valuing our team members, and believing in our craft," said Nick Smith, Geo Owl CEO, in an email.

Veterans and military spouses make up 95% of Geo Owl’s team. The company is projecting a 60% growth for 2020 based on its 2019 newly awarded contracts, officials said.

Geo Owl provides solutions to its mission partners in the United States through expert analysts. Its a provider of full-motion video (FMV), geospatial, intelligence, surveillance and reconnaissance (ISR), and IT services to the Department of Defense and intelligence community, officials said.

In March, the company opened up an office in Fuquay Varina to accommodate its team working out of the Fort Bragg area.

"Additionally, due to our rapid growth, Geo Owl is expanding its Wilmington presence and recently acquired a new office building that is currently set to open later this fall," officials said in an email.

Geo Owl was founded in Fayetteville in April 2013 and moved its headquarters to Wilmington in the summer of 2016, according to officials with the company.

“Geo Owl continues to drive innovation and growth by bridging the gap between operational needs and technology insertion. The world around us is constantly changing and Geo Owl continues to help leaders in both the defense and commercial markets make sense of the world and ensure they make solid strategic decisions," said Jim Moore, Geo Owl's chief growth officer. "Geo Owl will continue to expand our capabilities in the ISR and Geospatial market and is specifically growing into the Agricultural and Energy markets."

Local companies on the list last year that did not make the latest list include Off the Hook Yacht Sales, High-Speed Welding, N2 Publishing and Proficient Learning.
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