D.C. is a thriving, ever-evolving tech ecosystem which has experienced impressive growth over the past few years. A number of tech companies decided to open offices in D.C. recently, including e-commerce giant Amazon, which plans to open its second headquarters in Metropolitan Park sometime next year.
The tech hub’s proximity to Capitol Hill is a huge draw for tech talent in cybersecurity, IT modernization, climate tech and other industries that are increasingly contracting with the U.S. government. It’s no surprise to see just how much D.C. has grown over the past few years, to the tune of 169 percent in median revenue growth according to Inc. magazine which just released its regional list of fastest growing private companies for 2022.
A spin-off of Inc. magazine’s popular Inc. 5000 list, the Inc. Regionals 2022 ranks privately held companies based on their percentage of revenue growth between 2018 and 2020. The list is split into seven regions: Pacific, Rocky Mountain, Southwest, Midwest, Southeast, Mid-Atlantic and Northeast.
This year, the D.C. area was included as part of the magazine’s Mid-Atlantic regional list. Out of 131 companies featured, 98 were based in the DMV area. D.C. companies also made up much of the top ten of the list, with five ranking in that range. In total, D.C. companies represented on the list brought in $1.4 billion in revenue and added 5,810 jobs. Twenty of the D.C. companies that made the cut were newly founded, and 47 were repeat honorees.
Read on to hear about the top five fastest growing tech companies in the DMV and learn more about their innovative work in their respective industries.
Rank #10, 891% Growth
Rounding out the top ten of the Mid-Atlantic region is IT and management consulting company Diaconia. The company helps government agencies reduce costs and achieve goals through cloud computing, data and implied intelligence, cyber security solutions, and enterprise technology modernization. Between 2018 and 2020, the College Park company experienced 891 percent growth.
Rank #8, 1,129% Growth
Another govtech company making moves in the D.C. area is Dinocrates Group, which offers technology consulting and mission critical enterprise solutions to the federal government. Although best known for its work in the public sector, Dinocrates also helps private companies stay competitive, secure and productive by developing technology strategies designed to help its clients succeed. Over the past two years, the Rockville company has experienced 1,129 percent growth.
Rank #7, 1,139% Growth
Pie Group Holdings, better known as Pie Insurance, provides workers’ comp insurance to small businesses. With Pie Insurance, the aim is for small businesses to get a quote in just minutes, simplifying the workers’ comp insurance process to be, well, easy as pie! The D.C. based company experienced 1,139 percent growth between 2018 and 2020, and raised a significant round of Series C funding — $118 million — just last year.
Rank #6, 1,171% Growth
Global Alliant is a IT consulting company and software development company helping businesses tackle every day project management challenges from Agile practices to DevSecOps and cybersecurity. Between 2018 and 2020, the Columbia-based company experienced 1,171 percent growth. Global Alliant also ranked number 34 in last year’s Inc. 5000 list.
Rank #2, 2,523% Growth
Facet Wealth, an investment advisor and financial planning company, landed an impressive spot as the second-fastest growing company in the Mid-Atlantic region. The company goes beyond retirement and investment planning to help customers make various major purchase decisions and create roadmaps to financial wellness. The Baltimore fintech company experienced a stellar 2,523 percent growth between 2018 and 2020, making it the fastest growing company in the DMV area.