For the 3rd Consecutive Year, PayBright Makes the Inc. 5000, at No. 716 in 2024, With Record Growth
The Raleigh-based company is empowering agents and independent sales organizations to control their destiny through ‘Merchant Services Done Right’
RALEIGH, N.C., Aug. 13, 2024 (GLOBE NEWSWIRE) — Inc. revealed today that PayBright ranks No. 716 on the 2024 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, Patagonia, and many other household-name brands gained their first national exposure as honorees on the Inc. 5000.
“The Last 3 several years have been nothing short of amazing but we are only getting started. We are excited to continue to accelerate our growth,” said Dustin Magaziner, CEO and Founder of PayBright.
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate is 1,637 percent. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000.
“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, who recently joined Inc. as editor-in-chief. “To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”
“The next 12 months are going to be transformational here at PayBright, as we are going to nearly double our headcount once again. This is critical in order for us to continue to set the standard for top tier customer support in an industry that support is largely lacking,” says CEO Magaziner.
About PayBright
PayBright is a merchant services provider that works with independent agents, ISOs, banks and other strategic partners to provide payment solutions to businesses. By focusing on a ‘merchant services done right’ model, PayBright has become an industry leader by ensuring transparency, affordability and simplicity for agents and their local merchants.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
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