VIENNA, Va., Aug. 26 /PRNewswire/ -- Octo Consulting Group, a leading provider of technology and management consulting services to the Federal government, today announced that the company was named the 23rd fastest growing company in the United States by Inc. Magazine. The magazine's prestigious "Inc. 500" annual rankings are chronicled in this month's magazine as an independent review of privately held firms in the United States and also represents the most comprehensive look at America's most successful private companies. All Inc. 500 honorees share a prestigious pedigree with notable alumni such as Microsoft, Visa, Zappos, GoDaddy, Jamba Juice, American Apparel, Intuit, and Oracle – all of whom gained their early exposure as part of the magazine's exclusive Inc. 500 list.
In its first year of eligibility, Octo earned the No. 23 spot on the 2010 Inc. rankings with an extraordinary 3-year growth rate of 7,234% and over $13.7 million in annual revenue for 2009. Octo also ranked as the No. 6 overall government services provider in the U.S., the No. 4 ranked Indian-owned private business in the U.S., and the No. 2 overall business in the Washington DC metro area. Government services ranked as the 2nd largest business sector on this year's list 1st overall amongst all business sectors in terms of job generation. Separately, Washington DC ranked as the 2nd "hottest" metro area on this year's list in terms of total companies that made the list.
"We started Octo to create a management consulting firm that would have a far different perspective than any of its larger counterparts in the Federal space," said Mehul Sanghani, Octo Consulting Group's President and CEO. "We've been fortunate enough to cultivate a firm culture that accomplishes what we set out to do in that regard - which is to create an environment where ALL of the firm's resources, decision making, and corporate focus are tied to delivering lasting results that matter for our clients. This recognition of our growth by Inc. Magazine validates our vision and the need for that type of innovative perspective in the crowded Federal consulting space. Our entire firm understands that achieving this type of ranking after just four years in business is truly a once-in-a-career type of achievement. The recognition is a testament to the exceptionally talented employees we have been fortunate enough to have assembled here at Octo and also the faith that our clients have placed in ability to deliver these results."
The 2010 Inc. 500 serves as a unique report card on the U.S. economy. Despite the ongoing economic downtown and negative business climate, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 323.6%. Inc. 500 companies have been responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Complete results of the Inc. 500, including company profiles and interactive database that can be sorted by industry, region, and other criteria may be found on Inc.com.
About Octo Consulting Group
Octo Consulting Group ("Octo") is a management and technology consulting firm focused on providing its clients with creative and actionable business solutions in the areas of program management, performance-based acquisition, IT management consulting, organizational change management, and business transformation. The firm was founded with the singular objective of combining experienced industry veterans with retired Senior Executives who truly comprehend the challenges of managing complex programs. Octo combines this unique blend of expertise with a small business's agility and a conflict-free advisory approach for transparently delivering measurable results for our clients.
Founded in 2006 as a fresh alternative to the traditional consulting space, Octo Consulting Group delivers the results IT leaders in government and business need to improve performance and accomplish their missions. Through its Adaptive Approach to client engagements, Octo offers world-class analysis, relevant insights and intelligent solutions that produce practical, meaningful and measurable outcomes for its clients. Octo now works with nearly 20 government agencies and has enjoyed substantial year-over-year growth largely due to its client retention rate of over 97%. Core practice areas include enterprise architecture, enterprise portfolio management, critical program management and performance-based acquisition. For more information, including contract vehicles, visit www.octoconsulting.com.
SOURCE Octo Consulting Group
For further information: Mehul Sanghani of Octo Consulting Group, +1-703-847-3621