Transfr Recognized Among Top 2% of America’s Fastest-Growing Private Companies by Inc.
NEW YORK–(BUSINESS WIRE)–Inc. revealed today that Transfr, Inc. ranks No. 106 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.
“This high-ranking on the Inc. 5000 is a testament to the movement we’ve created with our incredible team, partners and customers across the country,” says Bharani Rajakumar, founder and CEO of Transfr. “We support communities in achieving economic growth by helping students and adult learners discover, explore and train for careers in local industries where employers are desperate to find skilled workers. There is an enormous need and application for Transfr’s VR technology and comprehensive programs and services, which are transforming the classroom-to-career pathway for more and more Americans every day.”
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. All 5000 companies are featured on Inc.com starting Tuesday, August 13, and the top 500 appear in the new issue of Inc. magazine, available on newsstands beginning Tuesday, August 20.
“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.”
Transfr’s innovative virtual reality (VR) based platform hosts more than 300 simulations that focus on careers in industries that do not require a four-year degree, including Automotive, Aviation, Construction, Diesel, Electrical, Hospitality and Tourism, Manufacturing, and Healthcare. Since the company’s founding in 2017, Transfr has facilitated over 500,000 training simulations and has helped place thousands of people in high-demand jobs. Transfr is deployed in over 1,100 locations nationwide, including community colleges, trade schools, employers, prisons and K-12 schools. In 2023, Transfr secured $40 million in Series C funding led by ABS Capital. The funds are being used to further develop Transfr’s training platform and expand its programs to accommodate its rapidly growing customer base, which more than doubled year over year from 2019-2023.
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. 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/.
About Transfr
Transfr is an emerging leader in VR-based vocational career exploration and pre-apprentice training. Transfr provides immersive-simulation training for high growth in-demand careers that give real-world experience in the skills needed for job success, development, and retention. Using a headset, learners are guided through simulations by a digital coach to engage in career exploration, job training, and practice and assessment use cases. Transfr’s innovative platform promotes ever-improving quality and lower development costs of VR simulations. For more information, please visit https://transfrinc.com/.
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Jonathan Gardner
SalientMG
jonathan@salientmg.com