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August 17, 2021

42 CT companies make Inc. magazine’s list of fastest-growing firms

Photo | HBJ File Downtown Hartford's skyline.

Forty-two Connecticut-based businesses made Inc. magazine’s latest list of the 5,000 fastest-growing private companies in the country.

Among Connecticut’s share, the Greater Hartford area was well represented, with Bloomfield’s Soma Tech International (No. 163), Hartford’s Choice Merchant Solutions (No. 1,237), Southington-based Rebel Interactive Group (No. 1,842), Diameter Health of Farmington (No. 2,050), South Windsor’s RCN Capital (No. 3,251), Middletown-based Charles IT (No. 3,947), and Realized Solutions of Southington (No. 4,349), among others, making appearances.

Inc. ranks the companies based on percentage revenue growth from 2017 through 2020. 

With combined revenues of $1.7 billion, Connecticut companies on the list posted a median growth of 140% and added 1,647 jobs, according to the magazine. There were 17 repeat honorees.

Shelton-based energy startup Budderfly Inc. came in at No. 10 on Inc.’s list.

Budderfly, which helps businesses cut energy costs, had a three-year revenue gain of 22,486%, the largest percentage increase in Connecticut, according to the magazine. It was also the nation’s second-fastest growing company in the energy category. 

The company implements energy efficiency upgrades such as lighting, HVAC controls and energy intelligence software, at no cost to customers, and then takes a percentage of the savings.

In recent years, no other Connecticut company has broken the Top 10.

In a statement, Budderfly officials attributed its stellar growth to the addition of high-profile customers like KFC/Taco Bell, Subway and Wendy’s franchises and others.

“We are humbled that Inc. 5000 has recognized Budderfly among America’s Top 10 fastest-growing companies,” said Subbloie, who is also the CEO. “Our sustainable energy solutions continue to deliver bottom-line results for our customers while paying environmentally friendly dividends in the form of carbon reductions.”

To be eligible for the list, companies must be U.S.-based, privately held, for-profit companies (not subsidiaries or divisions) as of December 31. 2020. They must also have recorded minimum revenues of $100,000 in 2017 and $2 million in 2020.

The full list of Connecticut companies can be found HERE.

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