With Three-Year Revenue Growth of more than 2,000 Percent, Deako Secures a Spot Within the Top 200 Fastest-Growing Private Companies in America
SEATTLE, Aug. 13, 2024 /PRNewswire/ — Deako, the creator of the modular smart lighting system, today announces it ranked No. 182 on the 2024 Inc. 5000, the annual list of America’s fastest-growing private companies. With an impressive three-year revenue growth of more than 2,000 percent, Deako also secured the No. 3 ranking in the Seattle market, No. 4 within the state of Washington and No. 13 in the nationwide Consumer Products category. 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.
“It’s an honor to be recognized by Inc. and to stand alongside some of the most accomplished companies in the U.S. We built Deako on the belief that smart lighting should be effortless for homeowners, and this recognition reaffirms the work we’ve undertaken to support our vision,” said Derek Richardson, CEO and Founder of Deako. “None of our growth and accomplishments would be possible without our hardworking and innovative team. My gratitude goes out to all our dedicated employees who made this achievement possible. As we look to the second half of the year, we’re thrilled about the solutions and products we’re bringing to more homes across America and the future of our company.”
Deako is an award-winning company trusted by top 100 builders like D.R. Horton, Toll Brothers, Meritage Homes and more. Its modular smart lighting systems are installed in one out of six new single-family homes across the United States and provide convenient and customizable solutions for any home. In the last year, the company found its product installations led to 20 percent faster home sales which translated into considerable financial savings. By helping builders sell homes faster, Deako’s smart switches provided a timely solution that improved the financial health of partners, reinforcing the value of Deako’s product in a high-interest rate market. The company is consistently scaling and looks forward to continued expansion and product innovation in the coming year.
“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 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 more information about Deako, please visit www.deako.com.
About Deako
Deako is a leading innovator in modular smart lighting control systems for homeowners. With a mission to empower homeowners to enhance the ambiance, convenience, and security of their homes, Deako’s modular switches offer unparalleled flexibility and ease of use. The company collaborates with top builders, including D.R. Horton, Meritage Homes, Toll Brothers, Stone Martin, and more, to bring the benefits of smart lighting to American homeowners.
Founded in 2015 by CEO Derek Richardson, Deako is headquartered in Seattle and has received recognition as the #1 Smart Lighting Control System by TecHome Builder, Top 25 Innovative IOT Companies by Entrepreneur, and Top 50 Most Promising Startups by Bloomberg. For more information, please visit www.deako.com.
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.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.‘s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
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