IRVINE, Calif., Oct. 12 /PRNewswire/ -- Inc. magazine has named Sorrento Capital, a private asset management firm with a portfolio of businesses serving institutional customers across the mortgage and real estate industry, to the 29th annual Inc. 500 List that ranks America's fastest growing private companies.
Sorrento Capital, which ranked 641 on the 2009 Inc. 5000 list, has risen to number 357 after nearly tripling its revenue over the previous year, becoming the 20th fastest growing company within the financial services category and the 5th fastest growing company within the state of California. Sorrento Capital posted revenue of $10 million with 81 employees in 2008. During 2009, the company listed its revenue at $29.5 million with 428 employees. Despite the widespread challenges in the U.S. economy, Sorrento Capital has increased sales by 823 percent since 2006, when the company's revenue was $3.2 million.
The Inc. 500 represents a comprehensive look at an important segment of the economy—America's independent-minded entrepreneurs. Companies such as Microsoft, Zappos, Intuit, GoDaddy, Zipcar, Clif Bar, American Apparel, Oracle, and many other well-known names gained early exposure as members of the Inc. 500. This year's companies are smaller but much faster-growing than last year's crop.
"Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous," said Inc. editor Jane Berentson. "The Inc. 500 consists of these just-short-of miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times."
Sorrento Capital's operating subsidiaries focus on helping companies improve the performance and value of residential mortgage loan portfolios and also helping borrowers find solutions to their financial challenges. The company's assets include:
- MOS Group, a provider of loss mitigation services for the mortgage industry and one of the industry's most active participants in the government's HAMP (Home Affordable Modification Program) and HAFA (Home Affordable Foreclosure Alternatives) program. MOS Group is also the creator of the consumer education website, www.MortgageOutreach.org.
- Consumer Outreach, a direct to consumer marketing company that helps borrowers determine the government and lender programs – such as loan modification, forbearance, refinancing, or short sale – for which they may be qualified.
- REO.com, a distressed property marketplace and an asset management firm that provides customized disposition solutions for distressed real estate properties and nonperforming loans nationwide.
- InformationLogix, a provider of decision management workflow solutions to Fortune 50 financial services companies.
Sorrento Capital also holds a majority interest in Zetabid (www.Zetabid.com), a real estate foreclosure, auction and short sale outsourcing company.
"We're honored to be recognized by Inc. magazine for the second year in a row," said Robert Knohl, Chief Executive Officer of Sorrento Capital. "When Sorrento Capital was created, our goal was to create an operating platform that could span across a number of key growth areas within the residential mortgage and real estate markets. We've cultivated a large and loyal base of customers that not only contributed our recent growth, but also provide a platform for future expansion. We will continue to seek acquisitions and expand our service offerings to take advantage of the many opportunities for future growth and profitability."
About Sorrento Capital
Sorrento Capital is a private asset management firm that builds businesses both organically and through acquisition. The company's focus is centered on providing consumer-focused financial services through its business partners and through consumer direct channels. Sorrento Capital's businesses provide consumers with education, tools and resources that help address a wide range of financial related decisions. As a servicing partner to major organizations in the mortgage and real estate industries, Sorrento Capital's businesses offer solutions that directly address the rapidly evolving challenges of lending, debt management, asset retention and property disposition. To learn more about Sorrento Capital, visit www.SorrentoCapital.com or call (866) 408-0420
SOURCE Sorrento Capital