fast 50-21-35

As Chicago businesses recover from the economic turmoil of COVID-19, Crain's recognizes 50 local companies that still managed to generate impressive revenue growth since 2016. The businesses in Crain's 2022 Fast 50 saw a median increase in revenue of 592.8% over the past five years, and an average increase of 13,310.5%, driven by enormous growers topping our list. Cannabis, logistics and financial services companies lead the way on our latest ranking—which includes 21 newcomers not featured in last year's edition.

1. Coinflip

By Sophie Rodgers

Chicago's fastest-growing companies

Cryptocurrency hasn't been a very good investment recently, with a spring market meltdown wiping out $300 million in value in a matter of days. But for CoinFlip, bitcoin and other digital currencies have continued to fuel stunning, relentless growth, propelling the Chicago company to the top of the Fast 50 list for the second year in a row.

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2023 revenue

509,389.3%

5-year growth

$89.2 million

Tech Cryptocurrency ATM operator; Chicago; Founded in 2014

Company description

178

Local employees

201

Total employees

Yes

Profitable?

Tech company in the SaaS space; Chicago; Founded in 2015

Company description

5-year growth

26,336.6%

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Any investor or investment house seeking information about a company has ready sources at hand. You go to the Securities & Exchange Commission to find recent 10-K and -Q filings on profits and losses and you find what every analyst on Wall Street is writing about your subject by going to standard clearinghouses like Bloomberg. But Michael and Thomas Elnick, the twin brothers who co-founded Tegus in 2015, dismiss all that as mere qualitative information too easy to find.

2. tegus

(Hover over each box to view information)

2023 revenue

$27.1M

Local employees

252

Total employees

352

Profitable?

Yes

Profitable?

233

Total employees

233

Local employees

$23.8 million

2023 revenue

Community-based mental health care; Northfield; Founded in 1951

Company description

5-year growth

573.1%

Josselyn

24. Josselyn

Yes

Profitable?

741

Total employees

457

Local employees

$2,770.1 million

2023 revenue

Construction; Downers Grove; Founded in 2006

Company description

5-year growth

516.7%

Arco/Murray National Construction

25. Arco/murray national construction

Yes

Profitable?

160

Total employees

Local employees

$59.9 million

2023 revenue

Registered investment adviser; Chicago; Founded in 2011

Company description

5-year growth

492.9%

Kristen Oziemkowski, Jennifer des Groseilliers, Ryan Wickert. The Mather Group

26. The Mather Group

Yes

Profitable?

315

Total employees

309

Local employees

$253.8 million

2023 revenue

Virtual fundraising; Burr Ridge; Founded in 1998

Company description

5-year growth

757.5%

Double Good

21. Double good

Yes

Profitable?

101

Total employees

Local employees

$31.9 million

2023 revenue

Full-service ad agency; Chicago; Founded in 2016

Company description

5-year growth

746.1%

Highdive

22. Highdive

Yes

Profitable?

225

Total employees

150

Local employees

$106.3 million

2023 revenue

Staffing services; Oak Brook; Founded in 2015

Company description

5-year growth

680.4%

RHM Staffing Solutions

23. RHM Staffing Solutions

Profitable?

205

Total employees

Local employees

$152.6 million

2023 revenue

Logistics solutions; Chicago; Founded in 2014

Company description

5-year growth

475.8%

Loadsmart

27. Loadsmart

Yes

Profitable?

Total employees

Local employees

$46.7 million

2023 revenue

Construction management; Chicago; Founded in 2008

Company description

5-year growth

464.9%

Accel Construction Services Group

28. Accel construction services group

Yes

Profitable?

219

Total employees

155

Local employees

$58.6 million

2023 revenue

Full-service consulting firm; Chicago; Founded in 2016

Company description

5-year growth

448.2%

Inspire11

29. Inspire11

Yes

Profitable?

1,100

Total employees

450

Local employees

$32.4 million

2023 revenue

Airport concessions and food service; Chicago; Founded in 2012

Company description

5-year growth

427.7%

Hyde Park Hospitality

30. Hyde park hospitality

Yes

Profitable?

416

Total employees

Local employees

$619.5 million

2023 revenue

Parcel shipping carrier; Glendale Heights; Founded in 2003

Company description

5-year growth

426.8%

OSM Worldwide

31. OSM Worldwide

Yes

Profitable?

295

Total employees

280

Local employees

$20.7 million

2023 revenue

Security guard services; Chicago; Founded in 2012

Company description

5-year growth

423.5%

Lincoln Security Services

32. Lincoln security services

Yes

Profitable?

4,248

Total employees

325

Local employees

$1,307.5 million

2023 revenue

Insurance brokerage; Deerfield; Founded in 2016

Company description

5-year growth

417.6%

Alera Group

33. Alera Group

Yes

Profitable?

110

Total employees

Local employees

$17.2 million

2023 revenue

Small-business advisory; Oak Brook; Founded in 2013

Company description

5-year growth

403.1%

Founder and CEO Casey Clark. Cultivate Brands

34. Cultivate Brands

Yes

Profitable?

1,286

Total employees

464

Local employees

$712.2 million

2023 revenue

Retirement and health care financial services; Oak Brook; Founded in 2000

Company description

5-year growth

402.3%

Inspira Financial

35. Inspira financial

READ MORE: Inspira Financial meets businesses and individuals ‘where they are’

5-year growth