14 Maine companies make Inc. 5000 list of fastest-growing in the US
Courtesy / Rarebreed Veterinary Partners
Rarebreed Veterinary Partners is a Portland-based network of veterinary practices. Shown here are Dr. Nathan DeCosmo, right, and technician Devon, with a patient at a Rarebreed site in Burlington, Mass.
More Maine businesses than in nearly a decade, 14, are on this year's prestigious Inc. 5000 list of the country's fastest-growing companies.
And the fastest-growing Maine business this year, Rarebreed Veterinary Partners, comes in at No. 35, a higher rank than any other for the state since 2017.
Inc. magazine on Tuesday released its 42nd annual Inc. 5000, which ranks private U.S. companies according to their percentage revenue growth over the prior three years. To make the list, companies must be independent businesses, not subsidiaries or corporate divisions, and have to show yearly revenues that start at a minimum of $100,000 and exceed $2 million in the most recent year.
The Maine companies that made the 2023 Inc. 5000 list, each listed with the company's rank, location and three-year revenue growth, are:
- No. 35 — Rarebreed Veterinary Partners, Portland, 10,293%
- No. 990 — Compotech, Brewer, 599%
- No. 2,058 — VETRO, Portland, 273%
- No. 2,099 — Psychology Specialists of Maine, Brunswick, 267%
- No. 2,145 — Scott & Jon's, Auburn, 262%
- No. 2,838 — ATX Advisory Services, Biddeford, 188%
- No. 3,106 — Mainely Tubs, Scarborough, 166%
- No. 4,283 — Bedard Medical, Auburn, 102%
- No. 4,304 — Your Home Sold Guaranteed Realty, Farmingdale, 101%
- No. 4,542 — SaviLinx, Brunswick, 91%
- No. 4,683 — Veritas Prime, Portland, 86%
- No. 4,687 — Tilson Technology Management, Portland, 86%
- No. 4,747 — Mast Landing Brewing Co., Westbrook, 83%
- No. 4,962 — Pulp + Wire, Portland, 75%
No more than a dozen Maine companies have made the Inc. 5000 in any year since 2015. In 2014, 14 Maine companies made the list.
Rarebreed, indeed
Maine's top-ranked company for 2023, Rarebreed, is a network of veterinary hospitals and practices founded in 2018.
The company invests in the animal-care providers, then provides staffing, operational help and technology to improve their performance. Currently, Rarebreed runs 120 veterinary sites from Maine to Virginia, employing over 3,000 people. About 120 of them are corporate staff who primarily work at the Rarebreed headquarters on Pearl Street in Portland.
Co-founders Dan Espinal, CEO, and Sean Miller, COO, are both former executives from another Maine animal-health company, Westbrook-based IDEXX Laboratories Inc. (Nasdaq: IDXX).
Miller spoke with Maine on Wednesday about the Inc. 5000 ranking.
"We're incredibly proud of the team," he said, crediting the company's growth to its people. "It's all about finding the right talent."
At the same time, he acknowledged the contribution of Rarebreed's partner hospitals and practices, as well as Portland's growing cluster of animal-health businesses.
"We don't do anything in isolation. We're all part of the same ecosystem," he said. Going forward, he added, Rarebreed will look to extend its reach geographically, while maintaining a sense of community and "regional density" among its sites.
The company's rank of No. 35 is the highest for a Maine company since SaviLinx, a Brunswick-based contact center, placed No. 28 six years ago. The company made this year's list as well, along with four other repeat honorees: Bedard Medical, Mast Landing Brewing Co., Tilson Technology Management and Veritas Prime.
The Rarebreed rank was the highest for any New England company on the 2023 list. The runner-up, at No. 47, was a fashion e-commerce company, Marcella, from Northampton, Mass.
A total of 169 Massachusetts companies made the 2023 Inc. 5000 list, while 47 were from Connecticut. New Hampshire and Vermont each tallied 10 companies on the ranking. Rhode Island counted seven.
In March, Rarebreed also ranked No. 1 among Northeast companies in a similar, regional ranking by Inc.
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