August 12th, 2020
CompassRed Ranks No. 899 on the 2020 Inc. 5000 With Three-Year Revenue Growth of 515 Percent
WILMINGTON, Del. — CompassRed, Delaware’s premier Data Analytics and Data Science firm, has been recognized as one of the nation’s fastest-growing companies by Inc. magazine.
CompassRed, founded in 2012, had experienced a 518% increase in revenues from 2017 to 2019, the three-year period measured by the magazine.
Inc. ranked CompassRed 899th among the 5,000 businesses recognized on its nationwide list. The firm ranked 24th among those listed from the Greater Philadelphia Region, and in the top 75 among the fastest-growing service companies in the nation. It had the fourth-fastest growth rate of the 13 Delaware companies listed. The magazine considers the list the most comprehensive look at the most important segment of the economy – America’s independent-minded entrepreneurs.
CompassRed is a Data Science and Analytics company servicing clients in the Artificial Intelligence space. They assist their clients in organizing, understanding, and leveraging their data. CEO Patrick Callahan reflected on the company’s growth: "As marketers and chief information officers increasingly leverage their data to engage their customers and optimize their operations, we have been able to provide creative solutions leveraging innovative technologies and approaches. As a result of our clients’ successes, others have turned to us to do the same for them.”
That growth prompted CompassRed to move into CSC Station in early 2020, given it's close proximity to the Wilmington train station. This would allow for greater expansion and access to New York, Boston, and Washington DC. With its continued growth this year, CompassRed will soon expand in additional areas.
CompassRed, with 15 employees, has built a diverse roster of national and regional clients, with many of them in the financial services, chemical and consumer space. Its clients include: the DuPont Co., Wawa convenience stores, The Phillies, W .L. Gore & Associates, the State of Delaware and many more.
During the challenging time of COVID, data is becoming one of the most important assets to a company. “Our growth is going to continue to allow us to add talent to our team and keep focused on making this region one of the most advanced in Machine Learning, Data Science, and Artificial Intelligence. Talent will be the key to our expansion”, Callahan says. “It is essential to broaden our offerings, and be the first of its kind in the region.”
CompassRed maintains a blog detailing its work in order to educate the community about how it approaches the new and fast growing world in the data landscape.
About CompassRedCompassRed, Inc. (CompassRed) is a data analytics and insights company with offices in Wilmington, DE, and Philadelphia, PA. Our team offers end-to-end data solutions, from strategy, dashboard development, marketing analytics, machine learning, data warehousing and more. The company has been recognized regionally and internationally for outstanding work, receiving multiple awards in the last two years alone. Our team has depth and experience across multiple industries, covering a wide range of solutions and domains. Our data scientists and analysts are fluent in a variety of techniques including regression, machine learning, AI, and many forms of visual data storytelling. CompassRed prides itself on offering our clients a combination of fast and flexible innovation with world-class data know-how.
For more information, visit http://www.CompassRed.com.
More about Inc. and the Inc. 5000
Methodology
The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
CompassRed is a full-service data agency that specializes in providing data strategy for clients across multiple industries.