NEW YORK – Two Rhode Island-based companies made the top 100 in Inc. Magazine’s annual ranking of the 5,000 fastest-growing private companies in the country, released Wednesday.
In total, 17 Rhode Island companies made the list in the retail, telecommunications, software, real estate, IT services, marketing, health, construction, education, energy and business services industries.
Alex and Ani LLC, which ranked at No. 94 on last year’s Inc. 5,000 list, moved up to No. 53 this year with three-year revenue growth of 5,221 percent. The Cranston-based jewelry and lifestyle brand brought in $230.1 million in 2013, compared with $79.8 million in 2012 and $4.3 million in 2010.
Founded in 2003, Alex and Ani currently employs 1,106 people, according to Inc., and 1,073 of those jobs were created in the last three years.
This year was Alex and Ani’s fifth year ranking on the Inc. 5,000 list. The company ranked at No. 1,247 in 2010, at No. 470 in 2011 and at No. 246 in 2012. Alex and Ani also ranked as the third fastest-growing retail company in the 2014 ranking.
The only other Rhode Island company to crack the top 100 on the Inc. list was First Point Power LLC, an East Greenwich electricity supplier to residential and commercial customers in five states with four employees. Ranking at No. 74, First Point Power grew its revenue 4,355 percent to $23.4 million in the last three years from $527,448 in 2010, when the company was founded.
First Point Power ranked as the fifth fastest-growing energy company in the U.S.
The No. 1 fastest-growing company on the 2014 Inc. 5,000 list was once again Fuhu, a company that makes a children’s Android tablet and software to make computers kid-friendly, which posted 158,957 percent growth over three years.
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