Inaugural listing demonstrates LILT’s multi-year market traction and growth
NEW YORK, Aug. 13, 2024 /PRNewswire/ — Inc. revealed today that LILT, the leading AI solution for enterprise translation and content creation, ranks No. 2996 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.
“To be listed on the Inc. 5000 for the first time reflects recent momentum we’ve experienced,” said Spence Green, CEO and co-founder of LILT. “It is an exciting moment for us as it underscores our commitment to growth and excellence. We are grateful to our customers and partners for their unwavering support, and we look forward to building on this success as we scale our next-generation solution.”
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.
“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.”
On a mission to make the world’s information available irrespective of where you’re born or what language you speak, LILT is working towards a world in which language is no longer a barrier to opportunity. As the volume of available global content grows exponentially, LILT enables leading enterprises and public sector organizations to scale and optimize their enterprise-grade translation and content creation with an AI-powered, next-generation solution.
About LILT
LILT is the leading AI solution for enterprise translations. Our stack, made up of our Contextual AI Engine, Connector APIs, and human feedback, enables global organizations to adopt a next-generation AI translation strategy. With LILT, innovative, category-defining organizations like Intel, ASICS, WalkMe, and Canva are using AI technology to deliver multilingual, digital customer experiences at scale.
Visit us at lilt.com or contact us at contact@lilt.com.
More about 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.
For more information on the Inc. 5000 Conference & Gala, to be held from October 16 to 18 in Palm Desert, California, please visit http://conference.inc.com/.
SOURCE LILT