Magna5 Earns No. 90 Spot on the Inc. 5000 Northeast Rankings Amidst Robust Growth

Company's Strategic Focus on Cybersecurity, Cloud Services, and Managed IT Services Yields 196% Two-Year Revenue Increase

PITTSBURGH, March 14, 2024 /PRNewswire/ -- Inc. magazine revealed that Magna5, a national provider of managed IT, cybersecurity, and cloud-based services, is No. 90 on its fourth annual Inc. 5000 Regionals: Northeast list. This prestigious ranking recognizes the most successful companies within the Northeast economy's most dynamic segment — its independent small businesses.

"Magna5 is honored to be recognized not only on the national stage with the Inc. 5000 list of fastest growing private companies, but now also amongst our peers in the Northeast," said Bob Farina, CEO of Magna5. "The demand for cybersecurity, cloud services and managed IT services is growing rapidly and Magna5 continues to win new business by striving to understand our customers' needs and investing in our team, technology and service processes to provide world class solutions to our clients." 

The companies on this list show a remarkable rate of growth across all industries in the Northeast region. Between 2020 and 2022, these 198 private companies had an average growth rate of 155.84 percent; by 2023, they'd also added 14,560 jobs and $15.7 billion to the region's economy. Complete results of the Inc. 5000 Regionals: Northeast, including company profiles, can be found at inc.com/northeast.

"The honorees in our Inc. 5000 network are the Who's Who of private companies. They're energizing regional economies as they engineer the future of their industries. Learn who they are and what they do — they'll be impacting things for a while," said Eric Hagerman, Special Projects Editor at Inc. Media.

About Magna5 

Magna5, a NewSpring Holdings platform, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery, and other advanced IT services to SMB, mid-market and enterprise customers, including leaders within the education, healthcare, government, financial services, manufacturing and other industry segments. Headquartered in Pittsburgh, PA, Magna5 has customers nationally. For more information, visit www.magna5.com.

More about Inc. and the Inc. 5000 Regionals 

Methodology 

The 2024 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2020 and 2022. To qualify, companies must have been founded and generating revenue by March 31, 2020. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2022 is $1 million. As always, Inc. reserves the right to decline applicants for subjective reasons.

About Inc. Media

The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent. 

The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

SOURCE Magna5