A view of the downtown Denver skyline. (Courtesy of Guerilla Capturing)
A Broomfield software company was Colorado’s top company, ranking 10th, on Inc. magazine’s list of fastest-growing private companies.
Alpine IQ said in its bio that it “provides software that revolutionizes customer data compliance in highly regulated industries and addresses critical retail challenges.” The magazine reported that revenue in 2023 increased 16,469 percent year-over-year.
In a separate press release, Alpine IQ said its revenue in 2023 was $26 million, up from $150,000 in 2020. The company was founded in 2019 by Nicholas Paschal, Shahzil Abid and West Paschal.
“When the pandemic brought brick-and-mortar retail to a halt, many retailers struggled. But we saw an opportunity,” CEO Nicholas Paschal said in a statement. “By partnering with leading point-of-sale systems and retail platforms, we have developed a system that not only cleans up dirty data, but sets a new industry standard and provides retailers with accurate customer information.”
Ultimately, 132 Colorado companies made it to the 2024 version of the annual Inc. 5000 list, which published this weekAbout 80 percent of these companies – 104 in total – reported being based in the Denver metropolitan area, and another nine companies listed Boulder as their home location.
Eighty of the Colorado companies had previously been on the list.
Second in Colorado, at No. 54, was The Luxe Room, a medical spa that offers Botox and other treatments at three locations in Denver, Boulder and Fort Collins, which reported 5,017 percent growth over previous years.
To make the Inc. 500 list, a company must have had at least $100,000 in revenue in 2020 and at least $2 million in revenue in 2023. Companies must apply, which costs $495, and submit financial reports. Those that make the cut are ranked by their percentage revenue growth between 2020 and 2023. The published list used to include specific annual revenue numbers, but that is no longer the case.
In addition to Alpine IQ And The Luxe RoomHere are other Colorado companies that rank in the top 500:
Maestro Media (167) based in Denver reported revenue growth of 2,252 percent. The company is, according to its bio, “a full-service strategic product and business development firm focused on driving innovation and growth in the media and entertainment industry.” It ranked 689th on the 2023 list. Head: Javon Frazier
PneumaMedia (170) based in Denver reported growth of 2,241 percent. The company is, according to its bio, “a website design, development and SEO company serving small to mid-sized businesses.” This year it is first on the list. Top performer: David Riggs
Simple houses (193) based in Denver reported 2,028 percent growth. The company said it works “with general contractors and home builders to provide turnkey offsite framing solutions.” It is on the list for the first time. Head: Jeffrey Hopfenbeck
Ensemble Performing Arts (195) based in Louisville reported growth of 2,019 percent. The company offers individual and group music lessons for children ages 5 to 18, according to its bio. Last year it ranked 219th on the list. Top performer: Jeff Homer
Western Veterinary Partners (208) based in Denver reported growth of 1,933 percent. The company has a “fast-growing portfolio of over 240 general veterinary hospitals across the United States,” according to its bio. It was not previously on the list. Head: Carollee Brinkman
Spartan Investment Group (324), based in Golden, reported 1,329 percent growth. The company is a “veteran-owned, values-driven private equity real estate firm focused on commercial real estate investments,” according to its bio. It has been on the list every year since 2020, reaching number 128 in 2022. Head: Scott Lewis
Blazy Susan (382) based in Denver reported growth of 1,155 percent. The company said it produces “innovative products and smoking accessories such as rolling papers, pre-rolled bags and trays.” In 2023, it ranked 97th on the list. Head: William Breakell
Cake insurance (441), based in Denver, reported 1,010 percent growth. The company offers workers’ compensation and other commercial insurance for small businesses in most states, the bio says. It also made the list in 2023 and 2023. Head: John Swigart
Pax8 (442), based in Greenwood Village, also reported 1,010 percent growth. The company said it is “a cloud marketplace where IT professionals buy, sell and manage best-in-class technology solutions for small and medium-sized business customers.” The company has been on the list every year since 2018, when it held the 68th spot. Top performer: John Street
