Channel programs News
2022 Fast Growth 150: The Top 25 Solution Providers
Joseph F. Kovar, C.J. Fairfield
Here are the top 25 companies on this year’s Fast Growth 150 list, which ranks solution providers with gross annual sales of at least $1 million by their two-year growth rate.
Forging Ahead At Top Speed
The channel has faced serious headwinds as solution providers and their customers have wrestled with the global pandemic, economic uncertainty, employee shortages, ongoing supply chain issues and other challenges in the last two-plus years.
And yet many solution providers have not only survived but thrived as they navigate changes in IT needs and usage including the rapid shift to work-from-home and hybrid workplaces, high demand for cybersecurity solutions, and the ongoing migration to cloud computing.
“We’re growing like crazy,” said Michelle Accardi, CEO of Logically, a Portland, Maine-based MSP and MSSP that works with both customers and other solution providers, in an interview with CRN.
The CRN Fast Growth 150 list ranks solution providers with annual sales of at least $1 million by their average two-year revenue growth rate (this year between 2019 and 2021).
Overall, this year’s Fast Growth 150 recorded an average two-year growth rate of 96 percent. That’s up from 83 percent average growth for the Fast Growth 150 list in 2021, but below the 101 percent growth recorded by the 2020 Fast Growth 150 class.
The 150 companies on this year’s list collectively generated revenue of $82.40 billion in 2021. That’s down from $94.78 billion for the 2021 Fast Growth 150, but considerably above the $37.80 billion collectively reported by the Fast Growth 150 in 2020. (The cumulative revenue figure can vary widely year to year depending on the mix of small and large companies on the list.)
While organic growth certainly plays a major role in many solution providers’ overall growth rate, mergers and acquisitions are often a major factor in boosting a company’s Fast Growth 150 ranking.
Some solution providers on this year’s Fast Growth 150 are well-known names in the channel including SADA Systems (No. 9), Denali Advanced Integration (No. 27), Converge Technology Solutions (No. 30), Slalom Consulting (No. 63), EPAM Systems (No. 68), ePlus Technology (No. 72), Carahsoft Technology (No. 89), and GreenPages Technology Solutions (No. 144).
This year’s Fast Growth 150 also includes a number of solution providers that are appearing on the list for the first time including ExterNetworks (No. 5 with 295.5 percent growth), 5 Point Technology (No. 13 with 221.4 percent growth) and BlackHawk Data (No. 16 with 203.6 percent growth).
The following are the 25 solution providers with the highest growth rates in the CRN 2022 Fast Growth 150, starting with No. 25 and working up to No. 1 - the solution provider with the fastest growth rate over the last two years. The complete list can be found at www.CRN.com.