FOXBORO, Mass., Aug. 26, 2011 /PRNewswire/ -- Axeda Corporation announced today that it was named to the 2011 Inc. 5000 list for the second consecutive year. The list is an exclusive ranking of the nation's fastest-growing private companies, and represents a comprehensive look at the most important segment of the economy – America's independent entrepreneurs.
Axeda was recognized for posting significant three-year sales growth from 2007-2010. The company joins other household names like Dunkin Donuts, Spirit Airlines, and television maker Vizio on this year's list.
"In a stagnant economic environment, the companies on this year's list report having created 350,000 jobs in the past three years," said Inc. president Bob LaPointe. "The aggregate revenue among the honorees reached a remarkable $366 billion, up 14 percent from last year."
Founded in 2000, Axeda is the leading cloud platform provider for connected products and M2M (machine-to-machine) applications. Its success has been driven by continued innovations that have made Axeda's award-winning technology the choice for more than 150 major organizations such as Agilent Technologies, Diebold, and EMC. Axeda delivers true bottom-line benefits by making it quick and easy for businesses to connect any product on any network, and manage their connected products through the cloud.
"From vending machines to MRIs, 'connected' is becoming the standard," said Jack Sweeney, CEO of Axeda. "Even the slowed economy has not put a harness on the creativity that we see coming from our customers — we continue to be amazed by the innovative solutions that they are developing on our platform."
Methodology
The 2011 Inc. 500 is ranked according to percentage revenue growth when comparing 2007 to 2010. To qualify, companies must have been founded and generating revenue by March 31, 2007. Additionally, they had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2010. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2007 is $100,000; the minimum for 2010 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.'s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/500.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 710,106, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at www.inc.com.
About Axeda
Axeda is the leading cloud platform provider for connected products and M2M applications. More than 150 leading companies, including Agilent, Diebold, and EMC, rely on Axeda to connect any product on any network, and manage their connected products through the cloud with complete security and scalability — enabling them to innovate with extensive M2M application development capabilities.
By relying on the Axeda Platform to power their connected products, companies are transforming their business by improving customer satisfaction, reducing costs, and generating new sources of revenue. The M2M solutions behind these connected products range from remote service, fleet management, usage-based insurance, asset tracking, mHealth, and more. Join our developer community at: http://developer.axeda.com and learn more at www.axeda.com.
SOURCE Axeda Corporation
