NEW YORK, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Inc. revealed today that Lily AI ranks No. 1299 on the 2024 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, Patagonia, and many other household-name brands gained their first national exposure as honorees on the Inc. 5000.
“Making the Inc. 5000 is a dream come true for every founder yet more importantly, it is a testament to the relentless innovation and commitment to growth of the entire Lily AI team,” said Purva Gupta, Co-founder and CEO, Lily AI. “Every day, I am filled with pride and gratitude for what we deliver together; today, I am especially excited to share the achievement of this monumental milestone as one of the fastest-growing private companies in America.”
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate is 1,637 percent. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. All 5000 companies are featured on Inc.com starting Tuesday, August 13, and the top 500 appear in the new issue of Inc. magazine, available on newsstands beginning Tuesday, August 20.
“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, who recently joined Inc. as editor-in-chief. “To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”
Lily AI is bringing humanity to shopping by harnessing human-centered language throughout the retail ecosystem, improving search and discovery everywhere. This year, Lily AI’s co-founders made Inc.’s 2024 Female Founders List. Lily also launched integrations with Google, Shopify, Bloomreach, and Algolia, amongst others. Last month, Lily unveiled its inaugural Retail AI Index, a quantitative meta-analysis of the top 100 retailers and brands embracing AI today to improve customer experiences and accelerate profitable growth.
CONTACT:
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Michael McMullan
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More about Inc. and the Inc. 5000
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, to be held from October 16 to 18 in Palm Desert, California, please visit http://conference.inc.com/.
About Lily AI
Lily AI is a female-founded retail technology company empowering retailers and brands by bridging the gap between merchant-speak and customer-speak. Leveraging generative AI, computer vision, natural language processing, machine and deep learning, Lily AI enhances customer shopping experiences by injecting human-centered language throughout the retail ecosystem to improve search and discovery, everywhere. Integrated with Google Merchant Center and leading eCommerce, marketplace, and product management platforms, Lily AI maximizes existing media and technology investments to deliver upwards of 9-figure revenue lift through improved product attribution and descriptions, increased ad impressions, and higher conversion. Learn more at www.lily.ai.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9331c5ad-de98-4895-a2ac-651eee859031
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9ae29c64-49a6-45c7-98f3-046d5e502530
