POTOMAC, Md., Aug. 25 /PRNewswire/ -- Diamond Mind, Inc., the leading provider of electronic payment services for independent schools nationwide, announced today that it has been named to the prestigious Inc. 500 list recognizing the fastest-growing, privately-held companies in the U.S. Diamond Mind's impressive 788% growth from 2006-2009 ranked the company #383 on the Inc. 500 list and it will be profiled in the September issue of Inc. magazine, as well as on the magazine's website at www.inc.com.
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"We are honored to be named to this year's Inc. 500 list and it is a validation of our market vision that independent schools have unique and complex needs for their electronic payment services," said Katherine Novikov, founder and chief executive officer of Diamond Mind. "From our founding, every aspect of Diamond Mind's business strategy, including our hiring, training, service delivery and strategic relationships has been geared toward meeting the multi-faceted needs of schools. As a result, we are uniquely positioned to save schools money while providing exceptional service and offering trusted best practice expertise. I'd like to personally thank the more than 450 prestigious K-12 day and boarding schools that have selected Diamond Mind to provide their electronic payment services, as well as our innovative business partners and our team of dedicated and expert employees -- without these clients and colleagues, our growth and success would not be possible."
"Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous," said Inc. editor Jane Berentson. "The Inc. 500 consists of these just-short-of miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times."
Diamond Mind was founded in 2004 and has grown from its initial role as a provider of credit card processing to several industries to being a leader and expert provider of a range of electronic payment services to independent schools. Diamond Mind's business philosophy and client service approach center around making each independent school's electronic payment service needs and goals the company's top priority. The company's dedicated team of employees are experts in payment processing technology, regulations, and standards and works closely with each school to develop a comprehensive and customized program.
"Being awarded the #383 ranking on this year's Inc. 500 list illustrates not only Diamond Mind's phenomenal three-year growth, but highlights the company's ability to thrive in a challenging market and economic conditions," continued Ms. Novikov. "We look forward to continuing to offer our client schools the long-term relationships based on value, trust and communication that they have come to expect from Diamond Mind."
Diamond Mind joins the 2010 Inc. 500 -- a group of companies that are smaller but much faster-growing than last year's crop. Aggregate revenue for the 2010 companies is $11.3 billion -- down from last year's $18.4 billion -- but median three-year growth is 1,231 percent, substantially up from last year's 880.5 percent. The companies on this year's list employ more than 45,000 people.
Despite the ongoing recession, the 2010 Inc. 500 offers a glimpse of the future of the U.S. economy. In the health sector, which saw aggregate revenue of $1.1 billion and a 917 percent median growth rate, businesses are moving forward on cancer and stem-cell research, clinical trials, and medication management. More than 25 percent of companies in the energy sector ($2.5 billion aggregate revenue; 942 percent median growth rate) focus on solar and other alternative sources. Fewer than a third of retailers ($356 million aggregate revenue; 914 percent median growth rate) have even a single brick-and-mortar store. And the number of companies providing technical services to the various branches of the federal government continues to rise.
About the Inc. 500 / 5000
In 1982, Inc. introduced the Inc. 500 list of the fastest-growing privately held companies in the United States. Since then, this prestigious list of the nation's most successful private companies has become the hallmark of entrepreneurial success and the place where future household names first make their mark. Oracle, Patagonia, E*Trade, American Apparel, Zipcar and numerous other well-known brands have been honored by the Inc. 500|5000. In 2007, the Inc. 500 list expanded to the Inc. 500|5000, giving readers a deeper, richer understanding of the entrepreneurial landscape and capturing a broader spectrum of success.
Today, the list is a distinguished editorial award, a celebration of innovation, a network of entrepreneurial leaders, and an effective public relations showcase. The Inc. 500|5000 ranks companies by overall revenue growth over a three-year period. All 5,000 honoree companies are individually profiled on Inc.com. The top 500 are featured in the September issue of Inc. magazine, the leading entrepreneurial advocate for 30 years running. Inc. also ranks the fastest-growing companies by industry, metro area, revenue, and number of employees, and also highlights women- and minority-run companies.
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 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. For more information, visit www.inc.com.
About Diamond Mind, Inc.
Diamond Mind, Inc. is the leading provider of electronic payment services to independent K-12 day and boarding schools nationwide. Diamond Mind provides exceptional value -- lowering payment acceptances costs, while streamlining, consolidating and increasing the security of incoming credit card and eCheck payments campus-wide. The company's payment services can be integrated seamlessly with a school's existing vendors and can expand and compliment those existing vendors' capabilities. Diamond Mind offers a MasterCard Purchase Card program designed specifically for schools and enables all forms of payment acceptance both online and more traditional in-person payments, in all areas of a school campus, including Development, the Business Office, auxiliary programs, summer programs and much more.
Diamond Mind has built partnerships and collaborations with many leading Independent School associations such as the National Business Officers Association (NBOA), the Philadelphia Business Officer's Association (PAISBOA), the Mid-South Business Officer's Association (MISBO), the Washington Area Independent School Purchasing Consortium, the Partnership for Excellence in Jewish Education (PEJE), and School Office Services (SOS).
For more information about Diamond Mind, please visit our website at www.diamondmindschools.com.
SOURCE Diamond Mind, Inc.