The 2023 Inc. 5000 List of US fastest-growing companies includes 11 language services providers (LSPs) in its latest issue, with eight of them repeating from 2022, and one from 2021. The listing is based on percentage revenue growth from 2019 to 2022.
To be ranked in 2023, privately held American companies must be for profit, independent, founded before 2019, and must have generated a minimum revenue of USD 100k in that same year. The minimum revenue for 2022 is USD 2m.
Piedmont Global Language Solutions (PGLS), an Arlington, Virginia-based company founded by Mohamed Hussein, a Somali American entrepreneur, was listed for the second consecutive year, and in 2023 it is the only LSP listed among the top 500 fastest-growing companies (#424).
In last year’s Inc. 5000 list, Boostlingo was ranked higher than PGLS, an impressive position given that it was the first time the company had made the list. The LSP was listed for a second time (#619) in 2023 and has grown 947% over three years. It was also listed in the Inc. Best Workplaces list for 2023.
A company specializing in media technology services that include localization and accessibility, Blu Digital Group (#963), is also a repeat LSP from last year. It has grown 616% over a three-year period.
Following in descending order is Propio Language Services (#1034). A long-time provider of interpreting and document translation services, the company has made the list several times before. Its percentage revenue growth of 574% is about three times higher this year than in 2022.
Two LSPs Enter the List for the First Time
A Florida company called Bilingual Global, in operation since 2018, has entered the Inc. 5000 list for the first time (#1321). The LSP describes itself as a “business processing outsourcing” (BPO) firm providing multilingual customer service and support in more than 150 languages.
Also newly ranked this year is government business specialist firm FedWriters (#3046). The company, based in Virginia, has been around since 2010 and offers a host of content development services, including translation and interpretation.
Five additional LSPs made this year’s list, all repeating from previous years. Terra Translations climbed the list with 363% growth this year (#1570).
The Spanish Group (#2660) had 202% growth, a figure comparable to its 2022 (#2275) 257% growth. Eriksen Translations (#3866), CQ Fluency (#3878), and GLOBO Language Solutions (#4692) complete this year’s selection of fastest-growing LSPs on the Inc. 5000 list for 2023.
Contact us if you think we missed a company that should be listed. For more financial insights from Slator, check out the Language Industry Investor Map and the latest installment of the Slator Language Industry Buyer Tracker.