Bravo was honored to be a part of the inaugural Crain’s Fast 50 awards reception on Wednesday at the Western Reserve Historical Society in Cleveland, Ohio. The Crain's Cleveland Business Fast 50 was designed to recognize Northeast Ohio's fastest-growing companies, and Bravo was right near the top of the list.
Using numbers crunched by accounting partner Apple Growth Partners, the top 50 companies in Northeast Ohio were selected based on a combination of revenue growth and total revenue. With the help of their accounting partners, Crain’s identified businesses achieving the most substantial margins of revenue growth between 2009 and 2013. Only two companies in Northeast Ohio have shown more substantial growth during that timeframe than Bravo Wellness, which ranked third on the inaugural list, behind only Alego Health and Stratos Wealth Partners.
Bravo’s No. 3 ranking on the Crain’s Fast 50 list comes on the heels of being named to the Inc. 500|5000 award for the second straight year. Bravo was named one of the fastest growing health companies in the country, and one of the 50 fastest growing companies of any industry in the state of Ohio. Bravo was also named one of the top 15 fastest growing companies in Northeast Ohio by Inc. 5000, which recognizes the nation's fastest-growing private companies.
“I couldn't be more proud of our team and how, in the midst of Bravo and our clients winning awards and national recognition, we've been fortunate to maintain a simple principle - it's an honor to serve,” said CEO Jim Pshock, who started the company with his wife Natalie back in 2008.
“It's still difficult to tell my friends and neighbors exactly what Bravo does and explain why we're so different from the hundreds of other companies wanting to improve the health of an employer's population. Perhaps it's because we aren't trying to ‘sell’ anything. Perhaps it's because we want to understand needs and solve problems.”
According to the number crunchers at Crain’s accounting partners, Bravo has seen a 652% growth in revenue since 2009, which was the company’s second year in existence. In order to be eligible for consideration for the Crain’s Fast 50 list, companies were required to be at least five years old and have accrued a minimum of $5 million in revenue at the end of 2013.
Bravo also recently received a $22 million investment from ABS Capital, a leading investor in later-stage growth companies. With this minority investment, they will be able to strengthen their technology and expand their sales and marketing efforts, while continuing to innovate and expand their wellness solutions.
The purpose of the Crain’s Cleveland Fast 50 list is to recognize the entrepreneurial spirit, innovative business tactics, and skyrocketing revenue growth of the 50 fastest-growing companies in Northeast Ohio. Crain’s publisher, John Campanelli, said the successes of Bravo Wellness and the other local businesses honored Wednesday night prove there is a transformation going on in Cleveland.