Soaring 76 rankings 2022: Greater Philadelphia's fastest-growing companies, Nos. 2-25 – The Business Journals

The economy may have taken some unexpected twists and turns over the past couple of years, but it didn’t stop local companies from continuing to grow. If anything, a number of companies found creative ways to meet the needs of clients and not only grow their own businesses but other businesses, too.
Each year the Business Journal compiles a list of the 76 fastest-growing companies headquartered in the region. Some of the companies on this year’s list make it year after year, while others are newcomers.
To determine the list, the Business Journal sought self-nominations from privately held companies. Qualifying firms had to meet several criteria, including being independently owned; having sustained revenue growth from 2019 to 2021, with revenue in each year greater than the year prior; and revenue of at least $750,000 in 2020 and at least $2 million in 2021.
Once the data was compiled, it was then audited by our accounting partner CLA.
Publicly traded companies were then added to the mix using the same criteria.
The final rankings were determined by averaging the companies’ two-year percent change in revenue from 2019 to 2020 and 2020 to 2021.
Special thanks to Data Reporter Todd Romero for compiling the 2022 Soaring 76 revenue figures.
Below, read about the companies ranked between No. 2 and No. 25 on this year’s list.
No. 2 — LoanStar Technologies
2-year growth rate: 145.93%
Industry: fintech
Headquarters: Swarthmore
Top executive: Andrew Turner, CEO
Total employees: 14
2019 revenue: $574,249
2020 revenue: $1.6 million
2021 revenue: $3.41 million
Over the past three years, LoanStar Technologies has experienced fast growth in both revenue and headcount, jumping from six employees in 2019 to 14 in 2021. The Swarthmore company’s technology platform enables providers like medical practitioners, contractors and retailers to offer financing at the point of sale. Its specific areas of focus include home improvement projects like renewable energy, pools, spas, appliances, lawns and gardens, as well as elective medical procedures and the purchase of recreational vehicles. LoanStar credits the Covid-19 pandemic for part of its growth, as millions of Americans undertook home updates. The company, which partners with local banks and credit unions throughout the U.S., will look to continue increasing staff and its footprint in the year ahead.
No. 3 — AdaptHealth Corp.
2-year growth rate: 115.9%
Industry: health care
Headquarters: Plymouth Meeting
Top executive: Stephen Griggs, CEO
Total employees: 10,700
2019 revenue: $529.64 million
2020 revenue: $1.06 billion
2021 revenue: $2.45 billion
It’s been just over three years since Plymouth Meeting-based AdaptHealth went public and in that time the company more than doubled its revenue, blowing past $2 billion in 2021. The firm, which trades on Nasdaq under the AHCO ticker symbol, provides a “network of full-service medical equipment companies that use tailored products and services to empower patients.” That spans numerous areas of care, including respiratory therapy, sleep therapy, diabetes supplies, plus mobility aids like crutches, wheelchairs, walkers and canes. Its network extends to 47 states and over 750 locations.
No. 4 — FinPay LLC
2-year growth rate: 95.22%
Industry: health care/finance
Headquarters: King of Prussia
Top executive: Tim Kowalski, CEO
Total employees: 62
2019 revenue: $1.1 million
2020 revenue: $2.53 million
2021 revenue: $4.05 million
From 2020 to 2021, King of Prussia-based FinPay doubled its headcount and grew revenue by nearly as much. The managed patient financial management solution firm works with patients and health care providers like mental and behavioral health facilities, recovery treatment centers, home health providers and more. Working with providers so patients have payment alternatives, FinPay’s services include consumer medical loans, automated installment plans, and single payments via check, credit card and health savings accounts. Company CEO Tim Kowalski said the firm plans to increase its staff in the coming months.
No. 5 — CampusESP
2-year growth rate: 94.05%
Industry: information technology
Headquarters: Philadelphia
Top executive: Dave Becker, CEO
Total employees: 21
2019 revenue: $960,078
2020 revenue: $1.77 million
2021 revenue: $3.61 million
Colleges and universities have a number of different demographics they want to get in front of, chief among them parents, whether for student recruitment, donor relations, or just keeping them up to date. But such interactions with parents of students can be overwhelming for internal teams. That’s where CampusESP comes in. The Philadelphia startup was founded in 2017 and has experienced dramatic growth in the years since. It has established partnerships with over 220 schools including Penn State University, Drexel University and the University of Delaware to ease the burden of keeping in touch with parents. As it looks ahead, the goal is to grow and scale business.
No. 6 — Focus Insite
2-year growth rate: 93.48%
Industry: market research
Headquarters: West Chester
Top executive: Jim Jacobs, CEO
Total employees: 30
2019 revenue: $636,705
2020 revenue: $987,176
2021 revenue: $2.29 million
Market research studies can be invaluable for companies, whether they’re looking to bring a new product to market or gain real world information on various industry topics. Finding qualified people to be part of such studies can be difficult. Focus Insite aims to help. The West Chester firm recruits study participants and manages study organization and followups. It has recruited for some of the biggest brands in the world, including American Express, Tesla, Adobe, Google, Merck, Microsoft and Walt Disney. Founded in 2016, the company has gained a foothold, more than doubling revenue in 2021.
No. 7 — Top Stack
2-year growth rate: 89.75%
Industry: staffing
Headquarters: Wayne
Top executive: Michael Masiello, CEO
Total employees: 29
2019 revenue: $3.73 million
2020 revenue: $8.22 million
2021 revenue: $13.07 million
Founded in 2018, Top Stack is looking to solve a problem technology created within the staffing and recruiting industry. Now an impersonal process where humans chiefly interact with technology, Top Stack seeks to reintroduce people-to-people relationships. In doing so, the firm believes it can better place candidates and fill roles. That’s especially critical amid high turnover as a result of the Great Resignation. Top Stack, which has a second office in Maryland, works predominantly in the information technology and accounting and finance sectors.
No. 8 — Cohen & Co.
2-year growth rate: 87.23%
Industry: wealth management
Headquarters: Philadelphia
Top executive: Lester Brafman, CEO
Total employees: 118
2019 revenue: $49.67 million
2020 revenue: $130.11 million
2021 revenue: $146.37 million
With about $2.8 billion in assets under management, Cohen & Co. dramatically increased revenue in 2020 and again grew in 2021. The public company, founded in 1999, works in asset management, capital markets and principal investing. In addition to Philadelphia, Cohen & Co. has U.S. offices in New York and Florida, plus international outposts in Paris and London.
No. 9 — AMREP Corp.
2-year growth rate: 79.86%
Industry: real estate
Headquarters: Havertown
Top executive: Christopher Vitale, CEO
Total employees: 22
2019 revenue: $12.83 million
2020 revenue: $18.78 million
2021 revenue: $40.07 million
Based in Havertown, AMREP is a public company that trades on the New York Stock Exchange under the ticker symbol AXR. The firm was founded in 1961 and listed on the stock exchange in 1972. The company has experienced expansive growth of late, more than doubling revenue in 2021. AMREP’s primary focus is as a real estate holder, especially in Rio Rancho, New Mexico. It also has holdings in Sandoval County, also in New Mexico. Its projects include commercial real estate, industrial parks and master planned developments.
No. 10 — SMB Team
2-year growth rate: 78.36%
Industry: marketing
Headquarters: Bala Cynwyd
Top executive: Bill Hauser, CEO
Total employees: 23
2019 revenue: $1.42 million
2020 revenue: $2.41 million
2021 revenue: $4.51 million
SMB Team was founded in 2017 as a marketing and coaching company tailored toward lawyers and law firms. The company offers law firm marketing, website design, search engine optimization, and social media services, among others. It also provides marketing and management coaching, plus sales training. It has set a goal of helping 10,000 law firms double their revenue. While it chips away at that, the firm is experiencing its own rapid revenue growth.
No. 11 — vybe urgent care
2-year growth rate: 73.47%
Industry: health care
Headquarters: Philadelphia
Top executive: Peter Hotz, CEO
Total employees: 225
2019 revenue: $10.24 million
2020 revenue: $21.2 million
2021 revenue: $29.68 million
Vybe urgent care opened its 14th location in Greater Philadelphia this spring when it debuted a center on the campus of the Philadelphia College of Osteopathic Medicine. The urgent care provider was created in 2016 and its health care professionals provide a range of care including for cold and flu, lab tests and screenings, physical exams and vaccinations. Vybe said it plans to increase staff in the coming months as it continues its growth trajectory.
No. 12 — Bancroft Capital
2-year growth rate: 71.51%
Industry: finance
Headquarters: Fort Washington
Top executive: Cauldon Quinn, CEO
Total employees: 24
2019 revenue: $3.36 million
2020 revenue: $7.35 million
2021 revenue: $9.13 million
United States Navy veteran Cauldon Quinn co-founded Bancroft Capital in 2017. The Fort Washington firm offers broker-dealer services as well as investment advisory and has nearly tripled its revenue in the past two years. Its recent growth, largely in investment banking, has been spurred by historically low interest rates. A certified Service-Disabled Veteran-Owned Small Business, Quinn also built into the Bancroft culture an element of giving back. Through its veteran training program, Bancroft looks to offer two paid opportunities for up to four veterans, first responders or military spouses each year.
No. 13 — Spring EQ
2-year growth rate: 70.16%
Industry: finance
Headquarters: Philadelphia
Top executive: Jerry Schiano, CEO
Total employees: 329
2019 revenue: $17.16 million
2020 revenue: $34.77 million
2021 revenue: $47.87 million
Spring EQ is focused on making home equity access easier and faster for homeowners. The non-depository home equity lender has products including home equity lines of credit and refinancing, among others. Amid Covid-19 and the hot housing market, the company has experienced large growth from those looking to consolidate or borrow money for projects like home improvements, as well as first-time mortgages. Founded in 2016, Spring EQ has lending available in over 40 states.
No. 14 — Phenom
2-year growth rate: 69.64%
Industry: staffing
Headquarters: Ambler
Top executive: Mahe Bayireddi, CEO
Total employees: 1,500
2019 revenue: $16.04 million
2020 revenue: $28.35 million
2021 revenue: $46.08 million
Phenom is one of just a few local unicorn startups — meaning it has a valuation greater than $1 billion. The Ambler human resources technology firm uses an artificial intelligence-driven platform and machine learning to streamline the hiring process for recruiters and candidates. It already has more than 1 billion candidates from 180 countries in its system and last year raised a $100 million Series D. Amid the Great Resignation, the firm has experienced accelerated growth. Its fastest-growing segments include health care, retail, logistics and hospitality.
No. 15 — L. Priori Jewelry
2-year growth rate: 69.27%
Industry: retail
Headquarters: Philadelphia
Top executive: Lauren Priori, owner
Total employees: 13
2019 revenue: $1.49 million
2020 revenue: $2.02 million
2021 revenue: $4.1 million
Lauren Priori founded her eponymous jewelry brand in 2016. In the years since, she has grown from a single local outpost to two — in Philadelphia and King of Prussia — as well as a third location in Washington, D.C. Her by-appointment-only model and a blend of traditional jewelry techniques with CAD technology has set the business apart and even benefitted it amid the pandemic, when consumers became more accustomed to individual appointment shopping, helping L. Priori double revenue.
No. 16 — Xavier Creative House
2-year growth rate: 66.26%
Industry: marketing
Headquarters: Jamison
Top executive: Sunny White, CEO
Total employees: 16
2019 revenue: $1.83 million
2020 revenue: $3.23 million
2021 revenue: $5.03 million
Operating on a remote basis but headquartered in Jamison, Xavier Creative House has continually grown over the past few years. Founded in 2013, the health care marketing agency has focused on investing in digital resources in lieu of physical infrastructure. That meant the firm was in prime position when health took center stage in 2020. As a result, its pharmaceutical business has seen rampant growth, up over 406%, with biotechnology behind it at 222%, according to the firm.
No. 17 — Centri Business Consulting LLC
2-year growth rate: 63.51%
Industry: consulting
Headquarters: Philadelphia
Top executive: Michael Aiello, CEO
Total employees: 108
2019 revenue: $9.29 million
2020 revenue: $13.07 million
2021 revenue: $24.36 million
When companies need outside experts — whether because they’re considering an initial public offering, a merger or acquisition, or want to reconsider their cybersecurity, technical accounting or environmental, social and governance practices — they often turn to firms like Centri Business Consulting. The Philadelphia company has experienced growth in part thanks to a robust IPO and SPAC scene last year. In the coming months, Centri has a goal of growing its staff, offices and geographic coverage.
No. 18 — EverWash
2-year growth rate: 63.39%
Industry: business intelligence
Headquarters: Philadelphia
Top executive: Scott Caplan, CEO
Total employees: 50
2019 revenue: $21.21 million
2020 revenue: $33.42 million
2021 revenue: $56.55 million
Over the past 12 months, car wash membership startup EverWash has made significant gains. Led by CEO Scott Caplan, this March the firm raised a $6 million Series B on the heels of its $5 million debt deal with Toronto investor Flow Capital last fall. EverWash operates in more than 800 locations across the country and is hoping to add 500 locations to its EverWash Direct program and another 300 locations to its EverWash Complete program. As part of its growth strategy, the Philadelphia company is focusing on areas like sales, account management and marketing.
No. 19 — HV Bancorp
2-year growth rate: 61.59%
Industry: banking
Headquarters: Doylestown
Top executive: Travis Thompson, CEO
Total employees: 143
2019 revenue: $12.42 million
2020 revenue: $27.55 million
2021 revenue: $27.92 million
The parent company of Huntingdon Valley Bank, HV Bancorp is a publicly traded firm based in Doylestown. It trades on Nasdaq under the ticker symbol HVBC. Huntingdon Valley Bank offers personal, business, and mortgage banking. Its branches are primarily in Bucks and Montgomery counties, in addition to a branch in Philadelphia.
No. 20 — Quaint Oak Bancorp Inc.
2-year growth rate: 57.32%
Industry: banking
Headquarters: Southampton
Top executive: Robert Strong, CEO
Total employees: 114
2019 revenue: $13.64 million
2020 revenue: $17.49 million
2021 revenue: $32.6 million
Founded in 1926, Quaint Oak Bancorp is the parent company of Quaint Oak Bank. A publicly traded firm on the OTC Markets Group, it is listed under the ticker symbol QNTO. Quaint Oak offers personal and business banking, in addition to title services, insurance, mortgages, plus real estate. In November, Quaint Oak Bancorp announced the expansion of its real estate arm Quaint Oak Real Estate by way of two new offices, one in Chalfont and the other in Doylestown.
No. 21 — MEG Glass Inc.
2-year growth rate: 56.75%
Industry: construction
Headquarters: Doylestown
Top executive: Victoria Levesque, CEO
Total employees: 45
2019 revenue: $6.15 million
2020 revenue: $7.68 million
2021 revenue: $14.49 million
Two years ago, MEG Glass was the fastest-growing company in the region. The Doylestown company has continued to build upon that success, roughly doubling revenue in 2021 amid the pandemic. Its projects have included Hyatt Centric Hotel, the Fashion District in Philadelphia and Drexel University student housing complex the Summit. The commercial glazing contractor is benefiting from the ongoing real estate boom and will look to continue relationship building to further cement its status.
No. 22 — Accolade Inc.
2-year growth rate: 55.27%
Industry: health care
Headquarters: Plymouth Meeting (East Coast headquarters)
Top executive: Rajeev Singh, CEO
Total employees: 2,350
2019 revenue: $132.51 million
2020 revenue: $170.36 million
2021 revenue: $310.02 million
Accolade Inc. is a personalized health care company that provides “care delivery, navigation and advocacy services.” Its East Coast headquarters is located in Plymouth Meeting, while its West Coast headquarters is in Seattle. Accolade – which trades on Nasdaq under the ticker symbol ACCD – launched with its first customer in 2009 and in the decade-plus since has experienced rapid growth, particularly during the pandemic. As of 2022, the company has 600 customers and over 10 million members.
No. 23 — Houwzer
2-year growth rate: 52.58%
Industry: real estate
Headquarters: Philadelphia
Top executive: Mike Maher, CEO
Total employees: 168
2019 revenue: $4.9 million
2020 revenue: $8.2 million
2021 revenue: $11.3 million
The housing market has been on a huge upswing, something benefiting Philadelphia startup Houwzer. Founded in 2015, the company took a new approach by paying its Realtors a salary and offering them a full support team. For sellers, there is a flat $5,000 listing fee, and for buyers, a 2.5% broker commission which is paid on closing. Since its founding, Houwzer has helped homeowners buy and sell around $2 billion worth of homes. As it continues to grow, Houwzer is looking to stake its claim in other home buying and selling segments like home insurance, adding to its existing brokerage, mortgage lending and title company.
No. 24 — Tester Construction Group LLC
2-year growth rate: 51.83%
Industry: construction
Headquarters: Philadelphia
Top executive: Michael Tester, president
Total employees: 32
2019 revenue: $28.98 million
2020 revenue: $45.98 million
2021 revenue: $66.66 million
Founded in 2018, Tester Construction Group is helping shape what Philadelphia looks like by way of its numerous commercial and residential real estate projects. The firm offers construction management and general contracting for segments like commercial, multifamily and mixed-use development and has expanded from Philadelphia to Florida. Tester has seen consistent year-over-year revenue gains thanks in part to the continuing construction boom.
No. 25 — Deerfield Agency
2-year growth rate: 51.37%
Industry: marketing
Headquarters: Conshohocken
Top executive: Joshua Benson, partner
Total employees: 88
2019 revenue: $19.49 million
2020 revenue: $34.46 million
2021 revenue: $43.39 million
As its team continues to grow — in 2019 it had 45 employees, which is now up 88 — this spring the Deerfield Agency relocated to Conshohocken to accommodate its increased headcount and its return-to-office plans. Talent isn’t the only place the health care marketing agency is experiencing growth. Its revenue continues to soar, something COO Joshua Benson credits to the company’s technology innovation like its Asset2it app, which allows sales teams to create modular and personalized digital content in the field.
Click to read about this year’s other Soaring 76 honorees here:
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