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?
No
Yes
Profitable?
25
Total employees
20
Local employees
$18.1 million
2023 revenue
Cloud and data consultancy; Chicago; Founded in 2015
Company description
5-year growth
2,784.2%
Uturn Data Solutions
9. Uturn data solutions
Yes
Profitable?
450
Total employees
50
Local employees
$108.8 million
2023 revenue
Finance and technology consulting; Oak Brook; Founded in 2016
Company description
5-year growth
2,631.7%
E78 Partners
10. E78 Partners
No
Profitable?
2,446
Total employees
546
Local employees
$770.9 million
2023 revenue
Cannabis operator; Chicago; Founded in 2013
Company description
5-year growth
1,682.3%
Cresco Labs
11. Cresco labs
Yes
Profitable?
239
Total employees
171
Local employees
$130.3 million
2023 revenue
Cryptocurrency tech; Chicago; Founded in 2014
Company description
5-year growth
6,474.8%
CoinFlip founders, from left: Alan Gurevich, Daniel Polotsky, Ben Weiss and Kris Dayrit. Photo: CoinFlip
6. Coinflip
Yes
Profitable?
713
Total employees
54
Local employees
$691.2 million
2023 revenue
Online gaming, betting and enter- tainment; Chicago; Founded in 2012
Company description
5-year growth
3,692.2%
Rush Street Interactive
7. Rush street interactive
No
Profitable?
3,900
Total employees
442
Local employees
$938.5 million
2023 revenue
Cannabis operator; Chicago; Founded in 2014
Company description
5-year growth
2,918.0%
Verano
8. VERANO
Yes
Profitable?
3,554
Total employees
487
Local employees
$1,054.6 million
2023 revenue
Cannabis consumer-packaged goods/retailer; Chicago; Founded in 2014
Company description
5-year growth
1,587.5%
Green Thumb Industries
12. Green thumb industries
No
Profitable?
1,200
Total employees
285
Local employees
$542.5 million
2023 revenue
Omnichannel fulfillment platform; Chicago; Founded in 2014
Company description
5-year growth
1,438.1%
ShipBob
13. Shipbob
Yes
Profitable?
14
Total employees
6
Local employees
$23.2 million
2023 revenue
Men's clothing brand; Chicago; Founded in 2016
Company description
5-year growth
1,068.2%
Mugsy
14. Mugsy
Yes
Profitable?
743
Total employees
101
Local employees
$43.5 million
2023 revenue
Health plan technology solutions for payers; Aurora; Founded in 2008
Company description
5-year growth
993.3%
Simplify Healthcare
15. Simplify healthcare
No
Profitable?
64
Total employees
64
Local employees
$22.7 million
2023 revenue
Supply chain solutions; Bedford Park; Founded in 2016
Company description
5-year growth
964.2%
Unilogic
16. Unilogic
No
Profitable?
67
Total employees
44
Local employees
$27.0 million
2023 revenue
Customer experience software; Chicago; Founded in 2014
Company description
5-year growth
940.4%
XSell Technologies
17. XSell Technologies
Yes
Profitable?
1,040
Total employees
495
Local employees
$465.5 million
2023 revenue
Residential and commercial landscaping; Lake Bluff; Founded in 1958
Company description
5-year growth
875.7%
Mariani Enterprises
18. Mariani enterprises
Yes
Profitable?
49
Total employees
45
Local employees
$92.7 million
2023 revenue
Commercial general contractor; Chicago; Founded in 2013
Company description
5-year growth
770.3%
Redmond Construction
19. Redmond construction
Yes
Profitable?
122
Total employees
56
Local employees
$93.1 million
2023 revenue
Contracting/construction manage-ment; Chicago; Founded in 2014
Company description
5-year growth
764.1%
Richard Group
20. Richard Group
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Profitable?
Total employees
Local employees
2023 revenue
Company description
Cannabis consumer-packaged goods/
retailer; Chicago; Founded in 2014
Residential and commercial land-
scaping; Lake Bluff; Founded in 1958
Contracting/construction management; Chicago; Founded in 2014
