NEW YORK -- (BUSINESS WIRE) -- Inc. magazine has recognized Trax Technologies as one of the fastest-growing private companies in America. Today, Trax was added to the 2014 Inc. 500|5000. The list represents the most comprehensive look at the country’s independent entrepreneurs.
"What surprises me, even though I know it’s coming, is the sheer variety of the paths our entrepreneurs take to success, thematically reflecting how our economy has evolved,” said Inc. President and Editor-In-Chief Eric Schurenberg.
The Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2010 to 2013. Trax enjoyed a 57% three-year growth rate between 2010 and 2013, landing it on Inc.’s eighth annual list.
“Over the last few years we have assembled a great team at Trax and this recognition helps validate that,” said Trax CEO Scott Nelson. “But this is just the beginning. We are a global company and we expect even greater growth in the coming years.”
According to Inc., the 2014 Inc. 5000 is the most competitive crop in the list’s history. The Inc. 5000’s aggregate revenue is $211 billion, generating 505,000 jobs over the past three years. Complete results can be found at www.inc.com/inc5000.
Trax Technologies, Inc. provides a logistics data refinery that serves both buyers and sellers of logistics services. The company adds value by refining logistics data that comes from multiple sources. Before Trax refines logistics data, it is often inaccurate, incomplete, or inconsistent.
Trax estimates that such bad logistics data costs the $4.2 trillion transportation industry hundreds of billions of dollars a year. The cost arises from inefficiency, uncontrolled financial risk, distorted financial reporting and sub-optimal decision making.
Through an open SaaS technology platform, Trax cleans, completes and reconciles bad logistics data. Companies can then use the purified logistics data to reduce the high cost of industry inefficiency. They can also reduce uncontrolled risk, improve financial reporting and make better decisions through improved data analytics.
Trax operates offices in the U.S., Europe, Asia and Latin America.