THREE-YEAR GROWTH 25,890% FOUNDED 2019 CITY Springville EMPLOYEES 27 INDUSTRY Health supplements WEBSITE mixhers.com FOUNDERS Jess Toolson (35), Cody Sanders (49) and Jennifer Rogerson (34) THE COMPANY A women-owned/operated health supplement company focusing on hormone balance.
Last year, Mixhers was the UV50 No. 1 Startup to Watch. This year, the Springville company is the No. 1 Fastest-Growing Company in Utah Valley. Mixhers spreads hormone hope and health to more than 200,000 customers through the prettiest (and most delicious) drink mixes. FEATHER IN THE CAP “We have sold more than 5.8 million sticks of our flagship product, Hertime. All our milestones have been hit while being 100% women-operated and self-funded. Our top milestone was when Jess was awarded EY Entrepreneurial Winning Women North America class of 2023.” HAT TRICKS “In 2022, we decided we needed more support for expansion, and after months of preparation, we launched in 3,000 CVS stores nationwide.” NO CAP ON VALUES “Mixhers has partnered with Mothers Without Borders by donating profits and products to support vulnerable women, youth and children.” THE ADVICE “Wake up each day and choose to show up and push through when things are hard, and sit back and celebrate when the hard work pays off.”
2. Pillow Cube
THREE-YEAR GROWTH 10,213% FOUNDED 2019 CITY Lindon EMPLOYEES 36 INDUSTRY Consumer products WEBSITE pillowcube.com FOUNDER Jay Davis THE COMPANY Pillows made by side sleepers, for side sleepers.
Goodbye, neck pain. Jay Davis and team created “a bed for your head” to align spines of side sleepers, supporting the noggin with premium foam blocks. FEATHER IN THE CAP “Watching the Justin Bieber documentary and in the opening scene, his wife is laying on a Pillow Cube! Starting with 500 people who supported the original Kickstarter, and now we’ll gain a thousand new customers in a day.” HAT TRICKS “We’ve launched in-store with Walmart and are looking to get into more retailers. Our main goal: Continue to innovate in bedding products that solve pains and problems for people.” ON TOP OF IT “The way to keep changing the industry is to look at the broader, strategic approaches of our competitors, and then ask, ‘How are we different?’ And then to hold true to that.” NO CAP ON VALUES “Hold true to your vision. Make better products and people will notice; they will recognize that you don’t cut corners.” THE ADVICE “There are a lot of people who will copy you — you have to stay really close to innovation in the business. The biggest way to prevent copying is to keep changing.”
THREE-YEAR GROWTH 9,181% FOUNDED 2018 CITY Lindon EMPLOYEES 20 INDUSTRY Payments/Fintech WEBSITE blockchyp.com FOUNDERS Jeffrey Payne (49) and Jon Decker (41) THE COMPANY A payment processor that allows software vendors to seamlessly integrate systems with card-present payment terminals.
Jon Decker and Jeffrey Payne have seen firsthand the poor state of integrated payment technology. BlockChyp saves the day as a transparent, seamless solution for mom-and-pop shops that need to upgrade point-of-sales processes. FEATHER IN THE CAP “BlockChyp has processed $1.5 billion in payment volume since launch and will likely finish the year with over $1 billion for 2023 alone. Last year we made the Nilson Report’s list of U.S. Merchant Acquirers, where we broke into the top 75 and recorded the highest annual growth rate of any U.S. payment processor by a large margin.” THE CHALLENGES “The payments industry is brutal and there are no road maps. BlockChyp managed to find manufacturing partners, banking partners and solve problems that small companies typically can’t.” NO CAP ON VALUES “In an industry where integrity is hard to come by, a little honesty goes a long way. Main Street merchants are desperate for solutions that work reliably without hidden fees or predatory pricing.”
4. Escalante Outdoors
THREE-YEAR GROWTH 7,124% FOUNDED 2019 CITY Orem EMPLOYEES 24 INDUSTRY eCommerce/Off-road performance products WEBSITE overlanddepot.com FOUNDERS Carson Rawle (29) and Connor Rawle (33) THE COMPANY The parent company to four eCommerce sites that specialize in off-road performance products.
A passion for the outdoors turned into a zooming business, equipping vehicles for better exploration. FEATHER IN THE CAP “Building a passionate team and creating jobs for Utah County has been extremely satisfying.” THE CHALLENGES “Our first website was a ‘one-stop-shop’ for all off-road vehicles. Did it work? Not really. Our customers wanted a niche website catered to them. We then split that website into our three vehicle-specific websites and gave them what they wanted.” THE ADVICE “It’s easy to hold back starting a business because you are waiting for everything to be perfect. Perfect doesn’t exist!” NO CAP ON VALUES “Almost every weekend, our team goes on off-road/camping trips together. As founders, it’s so satisfying to create a passionate work environment where employees become best friends.”
5. Gabb Wireless
THREE-YEAR GROWTH 6,450% FOUNDED 2019 CITY Lehi EMPLOYEES 150 INDUSTRY Telecomm/Tech WEBSITE gabb.com CEO Nate Randle THE COMPANY Safe tech for kids in the form of smart phones, watches and apps.
Gabb was created by parents for kids, so kids get everything they need from tech and nothing they don’t. The idea came when the founder went to find a phone for his oldest son but only found phones meant for adults. Now, Gabb is on a mission to change how tech is consumed and give kids their childhoods back. FEATHER IN THE CAP “We now protect hundreds of thousands of children since selling the first Gabb phone. We have grown exponentially in a very short time due to launching a watch division two years ago and creating internal apps.” HAT TRICKS “Our main goal is to protect one million kids. All other goals stem from this singular goal. We want to be the first device kids use less of.” ON TOP OF IT “When we started, we had a phone that could simply call and text. Now our devices offer GPS tracking, boundary setting, school modes, smart apps and much more.” NO CAP ON VALUES “Live life outside the screen, protect the kids, educate the parents. In meetings, we will have ideas or avenues that may lead to better outcomes or increased revenue, but we always ask ourselves, ‘Will this help protect the kids?’”
THREE-YEAR GROWTH 3,632% FOUNDED 2017 CITY Lehi EMPLOYEES 10 INDUSTRY Fashion apparel eCommerce WEBSITE andcollar.com FOUNDERS Ben Perkins (28) and Jordan Larsen (31) THE COMPANY Performance dress shirts for guys who hate dress shirts.
Ben Perkins loved Under Armour turtlenecks as a 13-year-old but hated dress shirts. He thought he could make a comfortable dress shirt by combining the two. It took a few years and iterations, but now every man’s favorite dress shirt just keeps getting buttoned up. FEATHER IN THE CAP “Proudest moments — one million units sold, hitting eight-figures in annual revenues, serving over 200,000 customers and counting.” HAT TRICKS “Our main goals: 1) Hit $50 million in revenue. 2) Reach $10 million in EBITDA. 3) Be the No. 1 white dress shirt in America.” THE CHALLENGES “The world stopped buying and wearing dress shirts in 2020 due to COVID. We pivoted to focus on ‘micro segments’ that were recurring and required — groups of people who still needed to wear dress shirts.” NO CAP ON VALUES “We keep pushing the limits. White dress shirts are almost inherently the most boring product on the planet. How can we stand out and make people feel a different way about dress shirts? We can do that by being different and pushing the boundaries.” THE ADVICE “If you keep trying new things and just hang on, you’ll make it somewhere.”
7. Bacon Work LLC
THREE-YEAR GROWTH 3,490% FOUNDED 2018 CITY Lindon EMPLOYEES 72 INDUSTRY Staffing tech WEBSITE baconwork.com FOUNDER Hunter Sebresos (43) THE COMPANY A workforce marketplace helping businesses find qualified workers to fill shifts on demand.
Bacon helps hundreds of thousands of gig workers “bring home the bacon.” Hunter Sebresos’ mother raised five kids on her own while and hustling through college and working full-time. Bacon was created as a resource for people in her shoes. FEATHER IN THE CAP “Bacon has raised $18 million total and provided over 400,000 shift work opportunities. We recently recognized the highest-performing worker in Utah with a cash prize. She was a single mother whose daughter has health struggles. These moments keep us committed to helping people be the solution to their own challenges.” HAT TRICKS “We have a goal to be the first gig economy platform to establish a real worker impact program to see that Bacon workers are treated fairly. We also have a goal to his $100 million in annual revenue.” ON TOP OF IT “Since we are in multiples states, we use our ‘boots on the ground’ team to keep open communication regarding what’s happening in the individual markets, with our competitors and in the nation overall.” NO CAP ON VALUES “We encourage our internal employees and Bacon workers to ‘Hustle and Shine.’”
8. Baltic Born
THREE-YEAR GROWTH 3,072% FOUNDED 2016 CITY Lehi EMPLOYEES 65 INDUSTRY eCommerce retail WEBSITE balticborn.com FOUNDERS Allison Hunt (37) Angela Liljenquist (34) and Marianne Liljenquist (31) THE COMPANY An eCommerce, women’s apparel company.
Sisters Allison, Angela and Marianne started Baltic Born as a side-gig out of their basement. As young mothers, they saw the need for styles that worked through all stages of womanhood — and they delivered. FEATHER IN THE CAP “We were named No. 14 on the Inc. 5000 last year — it was surreal to see that number as such a young company!” TOP HAT TRICKS “We are expanding into other product categories including tops, bottoms, jumpsuits, swim and beyond. We are also looking forward to growing our international presence.” THE CHALLENGES “Supply chain issues during COVID, navigating a shaky economy and trying to hire team members. The motto at Baltic Born is to never quit, just keep trying new ways! That’s exactly what we did to overcome these problems.” NO CAP ON VALUES “We constantly strive toward excellence. We have a values program designed to ensure that every employee embodies trustworthiness, responsibility and respect.” ON TOP OF IT “We listen to our customer. We are constantly reading reviews she is leaving on our products, messages she is sending and requests she is asking for.”
9. Crumbl Cookies
THREE-YEAR GROWTH 2,437% FOUNDED 2017 CITY Lindon EMPLOYEES 424 INDUSTRY Gourmet dessert/Food chain WEBSITE crumblcookies.com FOUNDERS Jason McGowan (43) and Sawyer Hemsley (31) THE COMPANY A gourmet cookie franchise specializing in rotating weekly flavors.
The cookie dynasty has grown to more than 225 rotating flavors and more than 850 franchise locations. Iconic pink boxes for the win! FEATHER IN THE CAP “Crumbl is located in all 50 states, Puerto Rico and Canada. Crumbl gained over 10 million new customers and opened 365 new stories in 2022. In 2022, Crumbl sold an average of 750,000 cookies a day.” HAT TRICKS “Our vision is to inspire people to create more meaningful moments with those who matter most through easy gifting on the Crumbl app or catering to special events. We also seek to make the best in-app experience that exists in the food and beverage industry.” ON TOP OF IT “Crumbl created the Cookie Journal, a place to rate and review flavors and share thoughts with other cookie connoisseurs. We grow and adapt to our customer’s wants and needs.” NO CAP ON VALUES “We seek every opportunity to surprise and delight, and always pursue what is next without fear!”
THREE-YEAR GROWTH 1,534% FOUNDED 2017 CITY Lindon EMPLOYEES 71 INDUSTRY Footwear WEBSITE kizik.com LEADERSHIP Mike Pratt, founder (62) and Monte Deere, CEO (59) THE COMPANY A revolutionary footwear brand made with proprietary hands-free technology.
With a team of industrial designers, Mike Pratt sought for ways to make shoes hands-free. Now, Kizik boasts 180 granted and pending patents and has sold more than 2 million pairs of shoes. FEATHER IN THE CAP “In the 12 months leading to June 2023, the company’s net revenues exceed $112 million. Gross margin has increased from 16.3% in 2020 to 56.8% during the first half of 2023. The brand recently brought on several big names, including Gretchen Weimer and Wendy Yang, both of whom led HOKA to become a billion-dollar company.” HAT TRICKS “Prepare for a fully upgraded Kizik in 2024. Kizik’s upcoming rebrand will catapult the company into its next level of growth. Our goal is to put hands-free shoes on the feet of a billion people worldwide.” NO CAP ON VALUES “Within the office, you’ll often hear the words, ‘the best idea wins,’ and that mantra is part of Kizik’s genetic makeup. Kizik is aggressive about building brand recognition, generating buzz and becoming a household name.” THE ADVICE “Forget (and forgive) failures quickly.”
11. Five Star Franchising
THREE-YEAR GROWTH 1,526% FOUNDED 2015 CITY Springville EMPLOYEES 200 INDUSTRY Home services WEBSITE fivestarfranchising.com FOUNDER Scott Abbott and Chad Jones THE COMPANY A platform of home service brands with 800+ franchises across North America.
Five Star Franchising is empowering franchise partners with industry-leading tools and support while maximizing profitable growth for franchise owners. Here’s to building the American dream. FEATHER IN THE CAP “Five Star Franchising is on track to having more than 900 territories across six brands and will do close to $300 million in system-wide sales in 2023.” THE CHALLENGES “Five Star has spent millions developing ProNexis to create a high-tech customer experience solution. ProNexis services over 1,000 customers across more than 35 brands with marketing services, call center, tech offerings and consulting services.” HAT TRICKS “Our goal is to grow system-wide revenue to $1 billion in 3-5 years and double revenue growth for franchise owners annually.” NO CAP ON VALUES “Our DRIVE values guide our efforts on a daily basis. The acronym DRIVE stands for Drive, Real, Innovative, Vital and Enthusiastic.” THE ADVICE “Trust is earned in inches and lost in miles. Bring your franchisees programs that work. Be a vital part of their success stories.”
12. Earth Harbor
THREE-YEAR GROWTH 1,409% FOUNDED 2018 CITY Spanish Fork EMPLOYEES 35 INDUSTRY Beauty and wellness/Contract manufacturing WEBSITE earthharbor.com FOUNDER Ali Perry-Hatch (33) and Shane Hatch (36) THE COMPANY A clean and conscious beauty brand (and contract manufacturer).
Earth Harbor combines authentic, sustainable ingredients from the land and sea for nontoxic beauty products that are all the rave in Ulta, Whole Foods and more. FEATHER IN THE CAP “Our journey kicked off on a shoestring $2,000 budget, and now we’re on track to hit eight figures this year, all while staying true to our self-funded roots.” THE CHALLENGES “Initially, we sought collaboration with third-party providers, but we encountered scalability issues and a lack of personalized attention. As a solution, we strategically transitioned our operations in-house, allowing us to oversee every facet of the process.” NO CAP ON VALUES “We are steadfastly committed to the long term well-being of both people and the planet. Also, empowering our team to contribute to the decision-making process has minimized bureaucracy.” THE ADVICE “Take breaks when necessary. Draw strength from the wisdom of those who have faced similar challenges. Cultivate a network of positive and supportive individuals.”
13. Evobox, LLC
THREE-YEAR GROWTH 1,172% FOUNDED 2015 CITY Lehi EMPLOYEES 85 INDUSTRY 3PL fulfillment WEBSITE goevobox.com FOUNDERS Lisa Evenson (55), Tyler Evenson (32), Rick Evenson (58) and Brooke Lund (29) THE COMPANY Third-party shipping and warehousing.
When the founders of Evobox ran their own eCommerce business in the past, they realized the pains and confusion of working with 3PLs. Evobox emerged as a way to mitigate pain points with third-party shipping. FEATHER IN THE CAP “For the first six years, we continued to double our income each year. We continue to celebrate the small and big things, like signing on a new company or opening our east coast warehouse. We are servicing 52 companies and have hit eight figures in revenue.“ THE CHALLENGES “The largest challenge we faced in the beginning was the extremely fast growth we experienced. We had to ‘fake it till we made it.’” NO CAP ON VALUES “The most important value we stick to is first and foremost, integrity. We feel that honesty and transparency are the most important keys to long standing relationships. Second is mutual respect. We value all of our relationships and care deeply about our customers’ businesses.” THE ADVICE “Don’t panic or overthink. Something that appears to be extremely difficult at the moment is just that — a moment.”
THREE-YEAR GROWTH 1,019% FOUNDED 2017 CITY Provo EMPLOYEES 44 INDUSTRY Venture services firm WEBSITE revroad.com FOUNDERS Derrin Hill (53), Amy Caldwell (49), Bruce Hassler (46), A.J. Rounds (45), Jason Caldwell (50) and Bart Skalla (58) THE COMPANY A sweat-equity startup accelerator.
RevRoad is revving up the path for entrepreneurs, redefining startup support so entrepreneurs get the full package of resources — not just the capital. FEATHER IN THE CAP “Our portfolio currently includes 76 companies that have a combined enterprise value exceeding $1.7 billion. The startup failure rate across almost all industries is 90%. RevRoad flips that statistic on its head by helping more companies succeed — the current portfolio success rate is 68%.” THE CHALLENGES “One challenge occurs when things just aren’t working within a portfolio company. Sometimes, it’s a tough call — is it a leadership mismatch or a business model hiccup? We’ve learned to have some tough conversations and, if needed, swap out a CEO to steer the ship right.” HAT TRICKS “Our overhead goal is to be the No. 1 venture capital/venture services portfolio in the world.” THE ADVICE “Recognize that success requires a significant investment of time. You have to be willing to make this a priority in your life, professionally and personally, and do what it takes to make it happen.”
15. Solo, LLC
THREE-YEAR GROWTH 705% FOUNDED 2018 CITY Lehi EMPLOYEES 266 INDUSTRY Renewables/Environment WEBSITE gosolo.io FOUNDERS Dan Larkin (38) and Jeremy Smith (38) THE COMPANY A sales conversion platform that creates customizable proposals for roofing and solar services.
Solo focuses on high-end software to help companies succeed. Solo has set the bar for the industry with engineering, document management services and proposal creation. No more riding Solo. FEATHER IN THE CAP “Seeing Solo serve over 10,000 residential solar companies across the United States and accomplishing a Series A in April of 2022. We also quote over $60 billion annually.” HAT TRICKS “Solo strives to be the central hub for solar transactions for homeowners across the country.” THE CHALLENGES “One of the biggest challenges as you scale is realizing you can make money doing almost anything. Staying focused and maintaining discipline toward specific long-term and short-term goals will show you have reached the next level.” NO CAP ON VALUES “Solo’s core value is to build our customers’ businesses as if they were our own. Relationships with our customers has been the single greatest contributor to our success.” THE ADVICE “Stay focused on core goals and what you believe will be the best drivers for the business.”
THREE-YEAR GROWTH 605% FOUNDED 2016 CITY Lehi EMPLOYEES 50 INDUSTRY Cybersecurity WEBSITE heroic.com CEO Chad Bennett (43) THE COMPANY AI-driven cybersecurity services.
HEROIC is not just a cybersecurity provider but a trusted partner in safeguarding digital assets and personal data. Heroic democratizes advanced, AI-driven cybersecurity solutions — protecting individuals and organizations from next-generation cyber threats. FEATHER IN THE CAP “We’ve been honored with four listings on the Inc. 5000, were named a Top Fraud and Breach Protection provider and have received a National Healthcare Merit Award for our services to healthcare organizations nationwide.” THE CHALLENGES “One of the most challenging periods in HEROIC’s journey came early, following a rapid growth phase. Today, we’re a stronger, more agile organization because we were forced to become acutely aware of the need for strategic flexibility and risk mitigation.” NO CAP ON VALUES “We think bigger. We survive and thrive as we develop and execute game-changing ideas.” ON TOP OF IT “We began our journey with a single cybersecurity service. Now, we’re on the brink of launching our Unified Cybersecurity Platform, which is currently in private beta. We boast a client and employee retention rate consistently above 95%. We see this as a strong endorsement of both the quality of our solutions and our customer service.”
THREE-YEAR GROWTH 536% FOUNDED 2009 CITY Orem EMPLOYEES 430 INDUSTRY Marketing WEBSITE gosqueeze.com FOUNDERS Carson Poppenger (47) and Amy Poppenger (49) THE COMPANY A marketing and sales service focused on optimizing brands’ speed to lead, contact rate and conversion.
Squeeze is squeezing more out of marketing and sales by giving companies the tools to improve their ROI on their marketing spend and converting leads into closed business. FEATHER IN THE CAP “Squeeze serves over 35 enterprise businesses which include well-known brands like Sofi, Mr. Cooper, National Debt Relief and American Standard Bath. We have enabled billions in consumer transactions over the past 15 years.” HAT TRICKS “We will be over 500 employees by the end of the year, with an eye toward surpassing 1,000 next year.” THE CHALLENGES “We began business during the Great Recession. Because of what we’ve learned throughout the ups and downs, we prioritize servicing business verticals. That has allowed us to have 15 years of continual growth without ever having had to downsize or layoff our team.” THE ADVICE “Lead from the front and serve your team. Ensure people have the resources and incentives to adequately perform their duties.“ NO CAP ON VALUES “Culture is king!”
18. Bucked Up
THREE-YEAR GROWTH 492% FOUNDED 2016 CITY Orem EMPLOYEES 200 INDUSTRY Sports nutrition WEBSITE buckedup.com FOUNDERS Ryan Gardner (49) and Jeff Gardner (49) THE COMPANY Sports nutrition and supplements.
From originally selling bottles of deer antler spray to now popular energy drinks, workout clothing and supplements, Bucked Up’s products target health and performance goals with transparent labeling and high-quality ingredients. FEATHER IN THE CAP “We bootstrapped Bucked Up. We have never taken on debt and we have never had to raise money. We went from selling 4 million Bucked Up energy drinks in 2021 to 20 million in 2022. This year we are on pace to do about 55 million cans!” THE CHALLENGES “We once produced 200,000 cans of Bucked Up energy drinks, and they just didn’t taste right. Instead of going out to the market with them, we destroyed them all. This allowed us to hit the market with a better energy drink.” NO CAP ON VALUES “Work hard; work smart. We are constantly trying to innovate and stay ahead of the market.” THE ADVICE “If you are going to take on money, make sure it is with a strategic partner that can help you get to the next level. Don’t just take the money. When big enough, hire the right people with real experience — it makes all the difference. They will pay for themselves very quickly.”
19. ELB Learning
THREE-YEAR GROWTH 417% FOUNDED 2009 CITY American Fork EMPLOYEES 500 INDUSTRY Software development/Staffing and corporate training WEBSITE elblearning.com FOUNDERS Andrew Scivally (47) and Shawn Scivally (47) THE COMPANY A one-stop shop for creating better learning experiences for staff development.
For over 20 years, ELB Learning has been a best-in-class learning company with a mission to create “better learning experiences for all.” In 2020, this vision exploded as they were able to start acquiring industry-leading learning technology and service companies. FEATHER IN THE CAP “We are most proud of bringing together so many different parts of a company’s learning strategy and helping them achieve even greater success. We operate across a wide range of industries, and we are very happy with that.” ON TOP OF IT “Our leadership team is very integrated in the e-learning industry; we attend trade shows and conferences on a regular basis to be in tune with new trends and lead out in many areas. Our goal is to become the industry thought leader.” NO CAP ON VALUES “We focus on our people and try to provide an environment to allow them to contribute to the overall success of the company. We truly want people to enjoy where they work, and we feel that this shows in the way they treat our customers.”
20. Kodiak Leather Co.
THREE-YEAR GROWTH 397% FOUNDED 2015 CITY American Fork EMPLOYEES 4 INDUSTRY Leather goods/Fashion WEBSITE kodiakleather.com FOUNDER Jared Morse (39) THE COMPANY Ultra-durable leather and canvas bags.
Leather in your cap, anyone? Since its emergence in 2015, Kodiak Leather Co., partnered with Agora Brands, designs and sells the highest-quality luggage and bags for stylish and practical travel. FEATHER IN THE CAP “Raising over $1 million on Kickstarter was a big milestone. As was when we hit over $4 million in sales last year. Our biggest milestone has been partnering with venture-backed Agora Brands in 2022, which has helped streamline our growth and given us access to more experience.” HAT TRICKS “We want to continue to build a reputation of quality and great customer service. We have an eye on retail expansion right now, including national and international markets.” NO CAP ON VALUES “Having integrity in all we do, and standing behind our products. We want each customer to have a great buying experience and be taken care of.” THE ADVICE “Just stick with it. There are going to be wins and losses with every business, and if you can push through the challenges and problem-solve, you will eventually separate yourself from the rest of the pack.”
21. Design Imaging
THREE-YEAR GROWTH 382% FOUNDED 2004 CITY Orem EMPLOYEES 130 INDUSTRY Manufacturing WEBSITE flexstoneproducts.com CEO Matt Wilson (45) THE COMPANY A manufacturer of shower walls and bases.
Design Imaging’s shower walls were some of the first in the nation to have a highly realistic look of natural stone, while being lightweight, easy to install and waterproof. Design Imaging products are sold to professional remodelers under the brand SENTREL, and to DIY-ers through big box stores like The Home Depot and Lowe’s under the brand FLEXSTONE. FEATHER IN THE CAP “In 2011 we had $900,000 of annual revenue. In 2022 we reached $49.6 million. Last year we manufactured 5.1 million square feet of shower wall material.” HAT TRICKS “We strive to create value in the lives of our employees, customers and partners, and hope to reach $100 million in annual revenue.” THE CHALLENGES “During COVID, home improvement took off, and we grew like crazy. It was extremely challenging to manage supply chain shortages and lead times. Three factors delivered a win for us: 1) being domestically sourced on most raw materials, 2) being debt-free with cash on hand and 3) having team members with a passion for our company.” NO CAP ON VALUES “Our six guiding principles are transparency, integrity, respect, innovation, financial intelligence and quality.”
THREE-YEAR GROWTH 376% FOUNDED 2015 CITY Lehi EMPLOYEES 250 INDUSTRY Custom software development WEBSITE tech9.com FOUNDERS Nick Stice (43) and Billy Rappleye (45) THE COMPANY A builder of custom software with a commitment to help clients “Tech Happily.”
Tech9 is helping clients #TechHappily by offering outsourced, custom, no-corners-cut software development and staff augmentation with an emphasis on optimized UX (user experience). FEATHER IN THE CAP “Tech9 is a destination employer. When our employees come, they stay. If they leave, they often choose to come back. Our turnover rate for engineers is less than 3%. The industry norm is closer to 30%.” HAT TRICKS “We want to grow without sacrificing our culture.” THE CHALLENGES “Growth. We have been working hard to bring in the right leaders and empower them while also creating systems for scalability. As we continue to grow, we don’t want to lose sight of our foundational principles and culture. This is especially challenging as we move into different geographies and regions worldwide.” ON TOP OF IT “We hire engaged designers, engineers and managers. We empower them and give them a voice to share their thoughts, initiatives and goals. This naturally brings industry trends to the forefront.” THE ADVICE “Invest in and build technology correctly. It is your second greatest asset. Culture is your first.”
THREE-YEAR GROWTH 343% FOUNDED 2013 CITY Lehi EMPLOYEES 174 INDUSTRY SaaS WEBSITE jobnimbus.com CEO Ben Hodson (47) THE COMPANY An all-in-one app for roofing contractors.
Blending business acumen, scientific curiosity and software expertise, the creators of JobNimbus have crafted a product that revolutionizes project management for roofers. FEATHER IN THE CAP “By the end of 2023, we will have an ARR CAGR of 60% since 2021 while achieving positive EBITDA this year. Even more importantly, we serve over 50,000 contractors to help them become heroes.” HAT TRICKS “Our goal is to become the all-in-one solution for every challenge that a contractor may face, from invoicing to subcontractor management.” NO CAP ON VALUES “We are customer-obsessed. This makes our service more empathetic, service oriented, helpful and leaves a ‘wow’ experience. We also strive for team commitment, working together as a team, like AFC Richmond being led by Ted Lasso. Great teams are opinionated, provide thoughtful candor, are transparent, grateful and helpful.” THE ADVICE “As an early-stage startup, be mindful of unit economics. Growing pains are real — just keep working on the problems and remember that nothing is as bad (or as good) as it seems at first.”
24. Shyft Global
THREE-YEAR GROWTH 341% FOUNDED 2017 CITY Orem EMPLOYEES 45 INDUSTRY Supply chain management WEBSITE shyftglobal.com FOUNDERS Alex Burdge (29) and Mark Burdge (67) THE COMPANY A supply chain management company focused on data, design, manufacturing and delivering for eCommerce brands.
Shyft is about global economic impact. With a chasm between founders and factories, Shyft facilitates the creation of products while “pushing the boundaries of supply chain and design.” FEATHER IN THE CAP “As of early next year, the products we’ll have produced represent an estimated $1 billion in global economic impact (sales price), comprising an estimated 45 million units of product. We’ve been profitable since our second month in business.” HAT TRICKS “Our goals over the next five years are to generate over $5 billion in economic impact through product manufacturing. We also have a goal of helping save/make our customers $100 million through better product design, sourcing and manufacturing. We hope to become one of the best places to work in Utah.” NO CAP ON VALUES “Grit. Everyone that works at Shyft has what we call ‘the killer instinct.’ We try hard to foster a culture of autonomy where team members can be captains of their own areas. We don’t believe in mediocrity as an option.”
The Advice “Don’t get caught up in yourself- for better or worse. Don’t confuse a distant outcome with the journey itself and do your best to enjoy the challenges — they are the salt that make your story worth listening to. Overall, just get out there and get it done.”
25. Encor Solar
THREE-YEAR GROWTH 317% FOUNDED 2016 CITY Lehi EMPLOYEES 75 INDUSTRY Renewables/Utility WEBSITE FOUNDERS Dan Larkin (38) and Jeremy Smith (38) THE COMPANY A residential solar company specialized in selling and installing photovoltaic solar panels.
Encor was birthed as the second call to the stage for the same founders of Solo (No. 15 Fastest-Growing Company). Their intention this time was to build a world-class, full-stack solar company that could ‘hold a customer’s hand’ all the way through the pre- and post-install process. FEATHER IN THE CAP “Building a business from nothing to an almost $100 million company in five years is exciting. But seeing our employees grow, level up and perfect their crafts might be the most inspiring win.” HAT TRICKS “Our goal is to become a household name. We want to help enough customers in a year go solar so the company can experience $500 million in top-line revenue.” NO CAP ON VALUES “Taking 100% responsibility for everything that occurs within the company and keeping our commitments. We own everything — good or bad. And there is always something we can do to be response-able.” THE ADVICE “Entrepreneurship requires a strong stomach. Having a definite purpose centered around why you are doing what you are doing is the jet fuel needed to push through the stratosphere.”
THREE-YEAR GROWTH 287% FOUNDED 2011 CITY Lehi EMPLOYEES 575 INDUSTRY Software development WEBSITE codev.com CEO Landon Essig (37) THE COMPANY A platform connecting companies with the best offshore developers.
CoDev’s reach connects software developers that are often a world away from each other. With supervisors that oversee every country that CoDev operates in, they create a win-win situation for their customers and team members. Its focus is on developing people for long-term careers, not gigs. FEATHER IN THE CAP “In 2020, CoDev did $6-$7 million in sales. In 2022, we were able to surpass $20 million in revenue.” HAT TRICKS “In the past few years, we’ve grown from just over 200 people to over 500. Each person has a story, and they now have employment that likely wasn’t possible just a few years ago. Our next goal is to surpass 1,000 team members.” THE CHALLENGES “We had a Category 5 typhoon go through our main office in the Philippines. Through constant communication, we identified the needs and worked to get resources there. The teamwork ensured that we could help our team members and their families and then allowed us to keep our customers operational.” NO CAP ON VALUES “We believe in a people-first approach to growth and development. We believe in humanity, and we value everyone’s unique journey of life.”
27. Blue Raven Solar
THREE-YEAR GROWTH 268% FOUNDED 2014 CITY Orem EMPLOYEES 950 INDUSTRY Residential solar installer WEBSITE blueravensolar.com CEO Reed Farnsworth (43) THE COMPANY Solar technology for America homeowners.
Blue Raven Solar’s mission is to make homeowners’ lives better by reducing their energy bills through increasing their reliance on clean and abundant renewable energy. The process can be complex, but this solar sails smooth. FEATHER IN THE CAP “Blue Raven Solar has helped over 37,000 homeowners across the country go solar. Those installations have offset the environmental impact of nearly 9 million tons of carbon and 704 million gallons of gas.” THE CHALLENGES “Changes in energy regulations in various municipalities continue to drive complexity for the solar process. The latest challenge has been rising interest rates. Blue Raven Solar has adjusted where possible to ensure we are delivering on our mission of helping homeowners go solar.” NO CAP ON VALUES “Blue Raven Solar has three key values: develop a high-trust culture, be efficient and continuously improve.” THE ADVICE “Always remember the main goal for why you started your business, and keep that as your north star while you grow, even through turbulent times.”
THREE-YEAR GROWTH 254% FOUNDED 2018 CITY Lehi EMPLOYEES 58 INDUSTRY Accounting services WEBSITE trustnimbl.com FOUNDERS Dave Olsen (43) and Shane Rowley (36) THE COMPANY An outsourced accounting, tax and finance department for small- to medium-sized businesses.
Nimbl provides a full expert accounting team, usually for less than the cost of one full-time employee. Many business owners don’t know there’s a better way to handle accounting, and Nimbl is out to change that. FEATHER IN THE CAP “Nimbl started with a small base of Dave’s contract CFO revenue and a couple of bookkeepers based in the Philippines. About five years later, we have almost $5 million in revenue and 60 full-time equivalent employees, and we serve over 300 clients.” HAT TRICKS “Our purpose is to enable committed leaders to make their impact on the world. We will continue rapid growth while also continuing to upgrade client and people experience.” THE CHALLENGES “The accounting industry has a severe talent shortage, and in the past our growth has been limited by our ability to find and train enough people. We have been intentional about attracting and retaining the best people.” THE ADVICE “Create a clear vision for the impact you desire to have on the world. This vision can evolve over time, but staying clear will carry you through the tough times.”
THREE-YEAR GROWTH 246% FOUNDED 2017 CITY Lehi EMPLOYEES 9 INDUSTRY Software development WEBSITE bluein.green FOUNDER Ryan Bowers (44) THE COMPANY A digital product development shop specializing in software engineering and user experience design.
BlueInGreen was founded as a digital product development shop geared toward providing highly scalable and flexible professional services to clients — led by top-tier engineers, designers and product managers. BlueInGreen also developed digital products under its own IP that can be white-labeled for specific client needs. FEATHER IN THE CAP “BlueInGreen becoming a key AWS development partner to Netflix in 2018 was a huge milestone for us. Also working with Google/YouTube, partnering with Delta and the Seattle Seahawks and more.” NO CAP ON VALUES “Our company values are: trusted partners, impactful community, reliable entrepreneurs, empathetic leaders and collective growth. These values represent what we seek every member of our teams to bring to our clients and their engagements.“ THE ADVICE “Be completely in touch with the heartbeat of your business as growth ebbs and flows over time. Be strong in your convictions about when it is time to invest or when to hold back. We know that when we take care of these things, it is how we serve our clients, employees and partners best.”
30. Kensington Asset Management
THREE-YEAR GROWTH 238% FOUNDED 2018 CITY Lehi EMPLOYEES 180 INDUSTRY Food WEBSITE kensingtonasset.com FOUNDERS David Doty (38) and Danielle Doty (38) THE COMPANY A company owning and operating various ‘Best of State’ food concepts, including Magleby’s, Lehi Bakery and Summit Pizza.
Kensington Asset Management’s goal is to offer “Best of State” products with best-in-class hospitality to all of guests across its multiple brands. FEATHER IN THE CAP “Lehi Bakery is the highest volume retail bakery in Utah, and sells over 800,000 square donuts per year. We are in the process of completing a new 7,000 sq. ft. facility on Lehi Main Street, and will open a second location in November (Saratoga Springs) and a third location next year (Cedar Hills). Our people are everything. We are so blessed to have 370+ team members that serve our customers every day.” HAT TRICKS “While we have no established timeline, we aim for 15-20 units for Lehi Bakery and Magleby’s.” THE CHALLENGES “Over the past few years, we have had to overcome COVID, labor shortages, and surging inflation. Our loyal customers and strong brands have allowed us to not only survive, but continue to grow dramatically.” THE ADVICE “Make the best long-term choice for everything you do. Hard days come, but knowing you are on the right track for the long-term makes the turbulence a lot less disturbing.”
THE FINE PRINT The Fastest-Growing Companies list is selected from a group of applicants and ranked based on a percentage growth over the four-year period from 2019-2022, which is the same formula used to determine the Inc. 500. The base year of 2019 must have a revenue of at least $50,000. (Reason? We want these growth percentages to be meaningful and accurate.) Companies must be headquartered in Utah Valley to qualify. If corporate headquarters are outside of the county, only sales of its Utah Valley location(s) are eligible. Companies in a franchise model are measured by sales from their corporate-owned stores along with royalty revenues from their franchisees. The revenue figures have been verified by BusinessQ. We disclaim any responsibility for companies that did not apply.