NASHVILLE, Tenn., Oct. 5, 2021 /PRNewswire/ -- The Women Presidents' Organization (WPO), in collaboration with JPMorgan Chase Commercial Banking, today released the 14th annual ranking of the 50 Fastest Growing Women-Owned/Led Companies. The companies on this year's 50 Fastest list span a range of industries, from consumer products to STEM-related fields. From January to December of 2020, the 50 Fastest generated a combined $4.1 billion in revenue and collectively employed more than 24,000 people.
"This year's honorees exemplify the commitment, determination and ingenuity that is necessary to thrive in today's environment," said Thelma Ferguson, Managing Director & Northeast Segment Head at JPMorgan Chase Commercial Banking. "These exceptional women are living proof that necessity is the mother of innovation. Today, we are proud to support 50 extraordinary leaders who are redefining their industries and driving global economic growth."
The top three awardees are:
Clean lifestyle brand Modere is the fastest-growing woman-owned business, moving up from the number three spot last year. Based in Newport Beach, CA, and led by CEO Asma Ishaq, Modere saw its revenue skyrocket over the past five years, growing by over 1,700 percent from 2016 to 2020.
SimpleHealth, Inc. in New York, NY, a telemedicine platform focused on reproductive health, makes its debut on the 50 Fastest list this year. Helmed by CEO Carrie SiuButt, the company—which has one of the most accessible platforms for getting birth control products online—has doubled in size and more than quadrupled its revenue in the past two years alone.
Pleasanton, CA-based Paxon Energy & Infrastructure Services, a professional services firm in the oil, gas, and utilities industries, is also a newcomer on the 50 Fastest list. Founder and CEO Nooshin Behroyan has grown the company from one to 125 employees in 5 years.
"In a time when the normal course of business has been upended in nearly every sector, we are thrilled to celebrate the talent and resilience of these 50 accomplished leaders," said Camille Burns, CEO of the Women Presidents' Organization. "Thanks to JPMorgan Chase Commercial Banking, we are excited to highlight the crucial role these diverse and vibrant women-owned and -led companies play in creating jobs and growing the global economy."
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: 49
74% started with their own funds
66% do business globally and another 18% plan to go global in the future
76% do business with Fortune 1,000 companies
76% delivered new product or service lines within their traditional portfolio as part of their growth strategy in response to the COVID pandemic
The 50 Fastest companies are being honored during a luncheon and ceremony at the WPO Annual Conference on October 5, 2021, at the Grand Hyatt in Nashville, TN. Immediately following the ceremony, JPMorgan Chase Commercial Banking will also host a panel discussion featuring 50 Fastest honorees, who will share insights and advice for WPO members looking to grow their businesses.
The WPO is the premier peer advisory organization connecting women who own multi-million-dollar companies. In monthly meetings across six continents, chapters of 20 women presidents from diverse industries invest time and energy in themselves and their businesses to drive their corporations to the next level. Local WPO chapters are coordinated by a professional facilitator and meet monthly to share business expertise and experience in a confidential setting. For more information, visit www.womenpresidentsorg.com.
About JPMorgan Chase Commercial Banking
JPMorgan Chase Commercial Banking is a business of JPMorgan Chase & Co., a leading global financial services firm with assets of $3.7 trillion and operations worldwide. Through its Middle Market Banking & Specialized Industries, Corporate Client Banking & Specialized Industries and Commercial Real Estate businesses, Commercial Banking serves emerging startups to midsize businesses and large corporations as well as government entities, not-for-profit organizations, and commercial real estate investors, developers and owners. Clients are supported through every stage of growth with specialized industry expertise and tailored financial solutions including credit and financing, treasury and payment services, international banking and more. Information about JPMorgan Chase Commercial Banking is available at www.jpmorganchase.com/commercial.