SAN DIEGO, Aug. 20, 2018 (GLOBE NEWSWIRE) -- AbacusNext®, the largest Technology-as-a-Service (TaaS) provider for the professional services sector, has been named to Inc. magazine’s 37th annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. AbacusNext earned its fourth consecutive ranking, climbing nearly a hundred spots to #709 overall, and #16 in the IT System Development category.
“It is a tremendous achievement to make the Inc. 5000 list four years in a row. The sustained pace of our growth is a testament to the value proposition we deliver for our clients,” said Alessandra Lezama, AbacusNext CEO. “Our fully managed technology solutions liberate legal and accounting professionals from the burdens of regulation, compliance, and cyber security—allowing them to keep their focus on growing their practices.”
A perennial leader in the legal technology sector, over the past eighteen months AbacusNext has accelerated their market strategy by entering the accounting firm management and document automation spaces. After five acquisitions of industry leading solution providers, including Cloudnine Realtime, OfficeTools, and HotDocs, AbacusNext offers the most complete portfolio of turn-key technology solutions available, serving over 1.5 million professionals worldwide.
“The demand for our solutions shows that professionals everywhere, more than ever before, are taking action to secure and sustain their practices,” Lezama concluded. “We’re honored to be their trusted technology partner.”
The companies on the 2018 Inc. 5000 have shown staggering growth compared to prior lists. The 2018 Inc. 5000 achieved an astounding three-year average growth of 538.2 percent, and a median rate of 171.8 percent. The Inc. 5000’s aggregate revenue was $206.1 billion in 2017, accounting for 664,095 jobs over the past three years. Complete results of the Inc. 5000 can be found at www.inc.com/inc5000.
“If your company is on the Inc. 5000, it’s unparalleled recognition of your years of hard work and sacrifice,” says Inc. editor in chief James Ledbetter. “The lines of business may come and go, or come and stay. What doesn’t change is the way entrepreneurs create and accelerate the forces that shape our lives.”
About the Inc. 5000
The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success. The 2018 Inc. 5000 is ranked according to percentage revenue growth when comparing 2014 and 2017. To qualify, companies must have been founded and generating revenue by March 31, 2014. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2017. The full list of honorees can be found at http://www.inc.com/inc5000.
About AbacusNext
As the largest Technology-as-a-Service (TaaS) provider for the professional services sector, AbacusNext helps legal and accounting professionals achieve ultimate success and peace of mind through the delivery of a complete suite of compliance-ready technology solutions designed to support a secure and cloud-enabled practice at a cost they can afford. Headquartered in San Diego, California, and backed by private investment with Providence Equity, AbacusNext delivers products and services to over 500,000 businesses worldwide.
About Providence Equity Partners
Providence is a premier global private equity firm with more than $54 billion in capital under management. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 160 companies and is a leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI, and also has offices in New York and London. For more information, please visit www.provequity.com.