NEW YORK, Aug. 17, 2022 /PRNewswire/ — Today, Inc. revealed that Fohse is No. 19 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy’s most dynamic segment—its independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
In 2015, Fohse set out to do what no one had been able to do before: build an LED grow light that would match—and surpass—the capabilities of any lighting system ever seen in cannabis grows! Today, Fohse is ranked #19 as the fastest growing private company in America after years of diligence, innovation and massive growth resulting in a three-year revenue growth of 14,708% percent.
Brett Stevens, Fohse Co-Founder and CEO says: “This is such an amazing honor for all of us at Fohse and a clear validation of the amazing growth we have experienced. We are honored to be mentioned on the list of such amazing companies. This is just the beginning for us as we are continuing to grow. We are still a young company and we are constantly developing new technology and new products so we can continue to expand into more markets across the globe. We are so grateful for our loyal customers who utilize our lights and are continuing to see their yields go up giving consumers better cannabis products!”
The companies on the 2022 Inc. 5000 have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Among the top 500, the average median three-year revenue growth rate soared to 2,144 percent. Together, those companies added more than 68,394 jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, which will be available on August 23.
“The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated,” says Scott Omelianuk, editor-in-chief of Inc. “Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today.”
Fohse, the Future of Horticultural Science & Engineering, a leading manufacturer of high-performance LED grow lights, creates lighting fixtures that enable previously unobtainable and unthinkable results. Fohse’s sustainable and innovative first-of-their-kind products create a loyal customer base around the world. Fohse was founded in 2015 and has sold multiple tens of thousands of lights to growers and cannabis brands around the world—without a single customer taking the company up on its promise of refund if their yields did not increase.
Ida Bo Frazier
Senior Communications Supervisor
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 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. The top 500 companies on the Inc. 5000 are featured in Inc. magazine’s September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, visit http://conference.inc.com/.