Minneapolis, MN, Aug. 23, 2012 (GLOBE NEWSWIRE) -- Minneapolis-based mobile and web application development company, MentorMate, was recently honored on the 2012 Inc. Magazine 5000. This marks the company's first appearance on the highly-competitive list.
The Inc. 5000 annually features America's fastest-growing private companies and is one of the most recognizable lists in the business world. Rankings are determined according to percentage revenue growth over a three year time period; in this case, 2008 to 2011. MentorMate's three-year revenue increase elevated them into the top 2000 of all US companies.
With an impressive three-year growth rate of 153 percent, MentorMate is just hitting its stride in response to the mobile tsunami impacting businesses and organizations everywhere. "It's been amazing to see the impact mobile is having on organizations," says MentorMate's CEO and Founder, Björn Stansvik. "They are really having to rethink how they reach their customers and create competitive advantage".
The company's revenue is already up by 141 percent in comparison to last year, and sales are on track to exceed $7.5 million in 2012. Stansvik has grown the business in recent years by targeting larger companies as clients including medical makers and software firms. Even with fierce competition, MentorMate has seen continued success due to sound investment in the business and the promotion of a strong company culture.
MentorMate was also recognized on Five Elms Capital's inaugural fastest-growing companies list, The Flyover 50, earlier in June. The mobile and web tech firm led all Minnesota companies on the list at number 14.
About MentorMate:
Founded in 2001 as a small mobile application development company, MentorMate has expanded its scope to include custom software and web application development services as well. Ancillary services include IT, SEO, design, and business development consulting services. MentorMate is headquartered in the heart of Minneapolis's busy Uptown area and also operates three offices in Bulgaria. The current team consists of just over 135 employees with plans to add an additional 20-40 before the end of the year.
About Inc. Magazine:
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 710,106, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.