NEW YORK – Inc. revealed today that ProducePay ranks in the top half of the Inc. 5000, annual list of fastest-growing private companies in America for 2023. Additionally, ProducePay ranks No. 17 in the Environmental Services category. The prestigious ranking provides a data-driven analysis of companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. ProducePay joins the likes of Facebook, Chobani, Under Armour, Microsoft, Patagonia, and other household name brands that gained early national exposure as honorees on the Inc. 5000.
“It’s truly an honor to be recognized by Inc., since this not only celebrates our growth but also underscores the vital role of agricultural innovation and technology that is shaping our future,” said Pat McCullough, ProducePay CEO. “We credit our fast-paced growth to delivering solutions that bring greater efficiency and transparency across the entire fresh produce supply chain at a time when escalating challenges such as food waste, climate change, and price volatility are impacting retailers and growers around the globe.”
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”
Being named to 2023’s Inc. 5000 List comes on the heels of ProducePay’s recent ranking in Fast Company’s 2023 World’s Most Innovative Companies, Forward Fooding’s FoodTech 500, and receiving World Finance magazine’s AgTech Sustainability Award this spring. 2022 was also a banner year for ProducePay as the company grew YOY by 85% and grew overall transactions on its marketplace by 279%.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000.
ABOUT PRODUCEPAY
Founded by Pablo Borquez Schwarzbeck, a fourth-generation farmer, ProducePay is transforming the fragmented produce industry into a more connected and sustainable supply chain. ProducePay gives farmers unprecedented access to the market, financial solutions, and insights they need. Buyers and consumers receive fresher produce more efficiently, knowing it is grown and delivered in responsible ways. This simplified and empowering approach is helping to eliminate over 60% of economic and food waste, while creating value for everyone involved. To learn more about ProducePay, please visit https://producepay.com/.
ABOUT INC. 5000
Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always,Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, slated for October 31 – November 2 in San Antonio, visit http://conference.inc.com/.
