Team Go Ventures remains fastest-growing company in state

Thirteen of the 18 Arkansas companies on the 2024 Inc. 5000 are based in Northwest Arkansas. Over the past three years, the state’s 18 fastest-growing companies had a 215% median growth rate and added 4,287 jobs.

For the second consecutive year, Bentonville-based digital marketing agency Team Go Ventures was the fastest-growing company in the state, according to Inc. magazine’s 2024 list of fastest-growing private companies.

The magazine ranks the companies based on three years of annual revenue growth. To be included on the 2024 list, the companies must have been founded and started generating revenue by March 31, 2020, and they must have generated at least $2 million in revenue in 2023. In Arkansas, one newly founded company made the 2024 list. The state also had 11 repeat honorees.

Team Go Ventures moved up to No. 43 from No. 113 last year. Its three-year revenue growth rate rose to 6,271% from 4,213% last year. Founded in 2019, Team Go Ventures is led by CEO Oliver Bogner.

Fayetteville-based engineering firm Telex was the state’s second-fastest growing company, according to Inc. magazine. Telex was ranked No. 171, with a three-year revenue growth rate of 2,232%. Founded in 2014 and led by Mike McDonald, the nationwide company provides testing, commissioning and engineering services for investor-owned electrical utilities.

Ranked No. 487, Bentonville-based financial services company STAT Recovery Services had a three-year revenue growth rate of 905%. Last year, it was ranked No. 583, with a three-year revenue growth rate of 1,007%. Founded in 2018 and led by CEO Casey Roberts, STAT Recovery Services uses data and technology to help retail suppliers recover money contractually owed to them by retailers.

Rogers-based Legacy Retail was ranked No. 1,106, with a three-year revenue growth rate of 463%. Founded in 1999 and led by JD Hayes, the business products and services company has a team with over 200 years of combined retail experience, from small regional chains to the world’s largest retailer.

Ranked No. 1,403, Hot Springs-based Elite Exteriors Roofing & Restoration had a three-year revenue growth rate of 366%. Founded in 2015 and led by Ron Collins, the roofing services company provides roofs, siding, gutters, window installation, inspections, construction, restoration, and remodeling for residential properties. It was ranked No. 3,021 on the 2022 list.

Ranked No. 1,656, Rogers-based SupplyPike had a three-year revenue growth rate of 313%. In August, the software company was acquired by Minneapolis-based SPS Commerce for $119 million in cash and $87 million in stock. SupplyPike was originally part of Fayetteville-based logistics company CaseStack, which was sold to Hub Group in 2018 for $255 million.

Founder and CEO Dan Sanker spun off SupplyPike into a separate company in 2018 and grew the business to more than 500 retail suppliers that use the company’s automated software to provide ongoing monitoring and management of invoice deductions with retailers to recover lost revenue.

Fayetteville-based waste disposal company CARDS was ranked No. 1,670, with a three-year revenue growth rate of 311%. The company, founded in 2017 and led by Dan Christensen, offers residential, commercial and roll-off services.

Ranked No. 1,768, Little Rock-based construction company Bath Makeover of Arkansas had a three-year revenue growth rate of 297%. Founded in 2018 and led by Ron Jumper, the company specializes in remodeling bathrooms, primarily with new bathtubs and walk-in showers. In 2023, it was ranked No. 939.

Following are the rankings of the other Arkansas companies on the 2024 Inc. 5000 list.
• No. 2,086, Rogers-based sales and data agency New Nexus Group.
• No. 2,831, Fayetteville-based restaurant franchise Slim Chickens.
• No. 3,024, Little Rock-based information technology services company Inteliblue.
• No. 3,680, Little Rock-based telecommunications company Servato Corp.
• No. 3,705, Fort Smith-based automotive parts distributor Tri-State Enterprises.
• No. 3,822, Bentonville-based software company Nuqleous.
• No. 3,845, Fayetteville-based insurance company Greer and Greer Independent Insurance.
• No. 4,435, Little Rock-based health services firm Chenal Family Therapy.
• No. 4,624, Lowell-based pest control company Natural State Pest Control.
• No. 4,665, Fayetteville-based business products and services firm ZweigWhite.

The 5,000 companies on the 2024 Inc. 5000 list generated 874,940 jobs and $317 billion in revenue over the past three years. Hoboken, N.J.-based health service company Vytalize Health was ranked No. 1, with a three-year revenue growth rate of 90,779%.