Aug. 16, 2022

Ten South Dakota companies are among the fastest-growing in the nation, according to the annual Inc. 5000 list.

Companies on the Inc. 5000 for 2022 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S. based, privately held, for profit and independent — not subsidiaries or divisions of other companies — as of Dec. 31, 2021.

The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million.

Vanilla Bean Kings in Hartford is a repeat winner.

The South Dakota list included six new winners, four repeat winners from 2021, and others that dropped off.

Last year, SAB Biotherapeutics earned the state’s highest ranking ever at No. 129. It’s no longer eligible because it went public.

The 10 South Dakota companies that made the 2022 list are:

• No. 598: Rising Hope Counseling, Pierre, 1,062 percent growth. Mental health management services company training clinicians and building mental health practices in rural and underserved areas in South Dakota.
• No. 614: Vanilla Bean Kings, Hartford, 1,030 percent growth. Vanilla Bean Kings supplies gourmet vanilla products and vanilla beans from around the world.
• No. 1,309: Silencer Central, Sioux Falls, 497 percent growth. Silencer Central sells firearm sound suppressors, aiming to simplify the process of safely and legally obtaining a silencer.
• No. 1,631: Coop’s Pretzels, Sioux Falls, 386 percent growth. Coop’s Pretzels provides seasoning and packaging of snacks nationwide.
• No. 1,708: Lauriebelles, Tea, 363 percent growth. Lauriebelles sells quality, basic apparel for women no matter what their age, size or style preference.
• No. 1,909: American Consumer News, Sioux Falls, 317 percent growth. Known as MarketBeat, the company is a financial data provider, empowering investors to make better trading decisions through real-time financial data and objective market analysis.
• No. 2,120: CEGA Innovations, Sioux Falls, 282 percent growth. CEGA Innovations is a health care technology company offering products and services to help hospitals, clinics and ambulatory centers meet patient safety compliance requirements.
• No. 3,181: Roto Mold, Tea, 167 percent growth. Roto Mold is a custom rotational molding company producing gas tanks, bait boxes, roping steers and deer feeders.
• No. 3,616: Weisser Distributing, Tea, 142 percent growth. Weisser Distributing is an e-commerce retailer of private-label and third-party brand camping and hunting supplies, home accessories and more.
• No. 4,520: Northland Sheds, Milbank, 97 percent growth. Northland Sheds is a family-owned seller of high-quality storage sheds, cabin shells, garages, dog kennels, chicken coops and greenhouse sheds.

Combined, the South Dakota companies making the list had 340 percent median growth. They reported $274.7 million in total revenue and added 224 jobs.

It’s the 40th year the Inc. 5000 List has been published.

For Sioux Falls-based MarketBeat, this marks the seventh consecutive year of inclusion. The company reports it exceeded its annual revenue goal by $5.5 million last year, totaling more than $25 million, and grew top-line revenue by nearly 75 percent over the previous year. MarketBeat is approaching 3 million subscribers, despite challenging market conditions. 

MarketBeat founder and CEO Matt Paulson credited the company’s strong execution, creation of new revenue streams and proprietary technology platform for its success.

“MarketBeat continues to innovate as we face the same economic headwinds others are experiencing with year-to-date declines in the stock market,” Paulson said. “During difficult market corrections, retail investors pay less attention to their stock portfolios and trade less often, and they aren’t using sites like MarketBeat as often as they do during a bull market. While traffic is noticeably down year over year, some of our industry partners are down 35 to 50 percent over 2021. In turn, we’ve excelled at maximizing ad revenue and anticipate growth to continue – even if the rate slows for the near term.”

For Sioux Falls-based Silencer Central, it’s the company’s first year on the list. For its story of growth, click below.

The making of an Inc. 5000 fastest-growing company