The leading restaurant management and bill payment platform grew 224 percent between 2019 and 2021, 75 percent greater than the region’s median growth and fourth among software companies
ARLINGTON, Va., March 1, 2023 /PRNewswire/ — MarginEdge, the leading restaurant management and bill payment platform, today announced it has been ranked number 51 on Inc.’s fourth annual Inc. 5000 Regionals: Mid-Atlantic list, with 224 percent revenue growth between 2019 and 2021.
The Inc. Regionals: Mid-Atlantic is the most prestigious ranking of the fastest-growing Mid-Atlantic private companies based in the District of Columbia, Delaware, Maryland, North Carolina, Virginia and West Virginia. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the Mid-Atlantic economy’s most dynamic segment–its independent small businesses.
“The restaurant industry has proved its resilience over the last few years and MarginEdge has continued facilitating its growth with technology to help restaurant owners profit regardless of the macroeconomic climate,” said Bo Davis, CEO of MarginEdge. “Being named to the Inc. list of fastest growing Mid-Atlantic companies is a result of our team’s commitment to serving the industry we love. We are continuously finding ways to automate manual tasks and increase efficiencies so restaurant operators can do what they love and still enjoy a healthy profit.”
As a team built by operators with over 45 restaurants between them prior to MarginEdge and a sales team with collectively 400+ years of restaurant experience, MarginEdge’s mission is to bring operators the same energy, attention to detail and passion they bring to their guests. The company’s culture is deeply rooted in service because the founders and much of the team came from hospitality roles. MarginEdge designs their software with a deep understanding for the complexity of running a restaurant, and the goal of making the magic just a little easier for operators by taking time consuming back office tasks off their plate and empowering them with real-time data to make decisions in the moment.
“Our mission of empowering restaurant operators with the technology and real-time data has never been more important. With wild price swings month-over-month for eggs, lettuce, chicken and other restaurant staples, being aware of daily food costs is no longer a nice-to-have – it’s a must-have,” said Davis.
In addition, MarginEdge was recently recognized as one of America’s fastest-growing companies on the 2022 Inc. 5000 list, as a top workplace by the Washington Post in both 2021 and 2022 and by the Washington Business Journal in 2022. They also boast a 4.9 rating on both Glassdoor and Capterra.
The companies on this list show a remarkable rate of growth across all industries in the Mid-Atlantic region. Between 2019 and 2021, these 142 private companies had an average growth rate of 381 percent and, in 2021 alone, they added 14,439 jobs and $2.66 billion to the Mid-Atlantic region’s economy. Companies based in the Richmond, Virginia and the Washington, D.C. areas had the highest growth rates overall.
“This year’s Inc. 5000 Regional winners represent one of the most exceptional and exciting lists of America’s off-the-charts growth companies. They’re disruptors and job creators, and all delivered an outsize impact on the economy. Remember their names and follow their lead. These are the companies you’ll be hearing about for years to come,” said Scott Omelianuk, editor-in-chief of Inc. magazine.
Complete results for the 2023 Inc. Regionals: Mid Atlantic can be found at inc.com/mid-atlantic
The 2023 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2019 and 2021. To qualify, companies must have been founded and generating revenue by March 31, 2019. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2021 is $1 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
MarginEdge’s mission is to create a world where restaurant operators can focus on the business they love. By using best-in-class technology to eliminate unproductive paperwork and streamline the flow of operational data, MarginEdge is reimagining the back office and freeing restaurants to spend more time on their culinary offerings and guest experiences. The platform offers market-leading invoice processing, inventory management, recipe analysis, budgeting, performance tracking and supplier bill payment capabilities. Founded by industry veterans, MarginEdge serves a diverse group of operators from single units and small chains to large franchise and hospitality groups, providing a high impact product that resonates across the hospitality industry. For more information visit marginedge.com.
Originally published at https://www.prnewswire.com/news-releases/marginedge-ranks-no-51-on-inc-magazines-list-of-the-mid-atlantic-regions-fastest-growing-private-companies-301759108.html
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