Proterra Among 500 Fastest Growing Privately Held Companies in US
Proterra broke into the 2015 Inc. 500 list of the nation’s fastest-growing private companies.
1,119% of revenue growth in a three year period earned it 425th place, which makes us wonder how fast some companies must grow to be in the lead (well Ultra Mobile went up by 100,849%).
The 2015 Inc. 500|5000 ranks companies according to percentage revenue growth from 2011 to 2014. To qualify, companies must have been founded and generated revenue by March 31, 2011, and have revenue no less than $2 million in 2014. Additionally, companies have to be U.S.-based, privately held, for profit, and independent.
Proterra noted $28.7 million of revenues in 2014 and added 108 jobs in three years. According to the press release, their market share in electric bus market stands at over 70%.
“This award speaks to the mounting demand for Proterra Catalyst™ zero-emission electric buses. Just in the last year the company has announced: national expansion plans that include doubling production with the addition of a West Coast manufacturing line, $55 million in strategic financing, the company’s largest bus order to date by four-time returning customer Foothill Transit, breaking four performance records at the Altoona Bus Research and Testing Center, and a number of other customer orders. Proterra’s firm orders are now 110 units, with 323 options contracted, for a total of 433.”
Ryan Popple, CEO of Proterra said:
“We are honored to be named to the Inc. 500 list of fastest growing companies. To be recognized by Inc. underscores the momentum we are seeing for zero-emission mass transit. With public transit agencies coast-to-coast driving demand for electric vehicles, our focus during this next phase of growth is to get our new California manufacturing line up and running to service this industry’s increasing appetite for Proterra zero-emission electric buses.”