MONTREAL, Quebec, May 5, 2022 – The Women Presidents Organization (WPO), in collaboration with JPMorgan Chase, today released the 15th annual ranking of the 50 Fastest Growing Women-Owned/Led Companies. This year's 50 Fastest list is led by companies focused on healthcare, government and technology, and for the second year in a row, the top three companies are run by women of color.
The 15th anniversary of the 50 Fastest heralded a number of firsts and notable trends. The WPO received more applications this year than ever before, and the ranking reflects the largest number of consumer brands since inception. According to this year’s applicant survey, the percent of honorees that reported doing business globally declined to 62%—4% lower than reported in 2021 and a number that had previously risen year over year. Over 96% of honorees report that their businesses have returned to pre-pandemic profitability or were never adversely affected.
“This year's 50 Fastest winners are raising the bar for today's entrepreneurs," said Thelma Ferguson, Vice Chair of JPMorgan Chase Commercial Banking. "These incredible business owners, and countless others, are scaling new technologies, advancing purposeful missions and creating new pathways to success that will benefit generations to come.”
From January to December of 2021, the 50 Fastest generated a combined $6.8 billion in revenue and collectively employed more than 30,000 people.
The top three awardees are:
- SimpleHealth, Inc. in New York, NY, a telemedicine platform focused on reproductive health, returns to the 50 Fastest list this year, moving up from the number two spot in 2021. Helmed by CEO Carrie SiuButt, the company—which has one of the most accessible platforms for accessing birth control products online—has more than doubled in size and increased its revenue by 571% over the past two years.
- Newcomer Highlight Technologies, Inc., based in Fairfax, VA, debuts at number two on the list. Highlight, which is led by Founder and CEO Rebecca Andino, has quadrupled their revenues over the past two years by providing critical development and modernization, secure IT and mission solutions to more than a dozen U.S. federal government customers.
- Fintech start-up Stax also returns at number three on the list, up three spots from 2021 after a whirlwind year of growth. Stax is an all-in-one platform that helps businesses simplify payments with an innovative, flat-fee, subscription-style approach. Based in Orlando, FL and led by 34-year-old CEO and Founder Suneera Madhani, Stax has grown from one to 180 employees in seven years and recently attained “unicorn” status, announcing a $1 billion valuation after its latest round of investment.
“It is an honor to celebrate the talented and innovative leaders of these 50 companies that have experienced exponential growth in both size and revenue in today’s marketplace,” said Camille Burns, CEO of the Women Presidents Organization. “The WPO and JPMorgan Chase are excited to recognize and elevate these inspiring and diverse women-owned and -led companies, which are not only providing valuable products and services and generating economic growth but changing the public perception of, and conversation around, women-owned businesses.”
To qualify for the ranking, businesses are required to be privately held, woman-owned or -led, and must have reached annual revenues of at least $500,000 in each of the past five years. Applicants were not required to join or be members of the WPO. All eligible companies were ranked according to a sales growth formula that combines percentage and absolute growth. The top 50 were selected for the list.
More about this year's 50 Fastest:
- Average honoree age: 51
- Average years in business: 18
- 78% started the business
- 74% provide telecommuting
- 70% provide flex time
- 74% do business with Fortune 1,000 companies
The 50 Fastest companies are being honored during a luncheon and ceremony at the WPO Annual Conference on May 5, 2022, in Montreal, Québec at Fairmont The Queen Elizabeth. Immediately following the ceremony, JPMorgan Chase will also host a discussion and audience Q&A featuring 50 Fastest honorees, who will share insights and advice for WPO members looking to grow their businesses.