Ripple, the blockchain company behind the third-largest cryptocurrency has been named as one of the fastest-growing companies in America. Following the list from Inc., which featured numerous companies, Ripple was ranked the 123rd. However, it was the largest-growing blockchain company in the United States.
Ripple made Inc’s list of fastest-growing companies in America
Published by Mansueto Ventures, Inc., is American business magazine popularly known for its annual rankings of the fastest-growing private firms in the US. In its latest ranking that featured 5,000 companies, the magazine listed Ripple as the 123rd fastest-growing companies in America. Alongside other factors, the companies were ranked based on percentage revenue growth from 2016 to 2019.
Following Inc’s 5,000 lists, the blockchain company netted a 3,039 percent increase over these periods (2016 – 2019). Also, the median growth for Ripple sits at 165 percent. Being listed as one of the fastest-growing companies in America is quite an important development for Ripple, which was founded in 2012.
Ripple nailed $10 billion in valuation
Notably, Ripple has been growing extensively as its blockchain solution continuously gets integrated across multiple financial institutions. Its RippleNet network that streamlines banking activities exceeded 300 users in 2019. Also, it is estimated that over two billion transactions have been processed so far, using the RippleNet network. All of these transactions reportedly sum up to $7 billion.
In the same year, the company’s valuation soared to $10 billion, after Ripple conducted a $200 mln Series C funding round. While Ripple ranked as the fastest-growing companies in America, the leading company, OneTrust netted 48,337 percent over the same period. The Georgia-based privacy startup was founded in 2016, and its valuation is set at $2.7 billion.