March 15, 2022

Two Sioux Falls companies have been named to Inc. magazine’s annual list of fastest-growing companies in the Midwest.

MarketBeat, a digital media company offering stock market data and research tools, ranked No. 78 on the regional list.

Sioux Falls Tower & Communications, which does business as Vikor, ranked No. 110.

The regional list was born of the annual Inc. 5000 list and includes companies based in Iowa, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, North Dakota, Nebraska, Ohio, South Dakota and Wisconsin.

Between the two companies, which were the only ones in South Dakota to make the list, they achieved 113 percent median growth and added 80 jobs.

“This year’s Inc. 5000 regional winners represent one of the most exceptional and exciting lists of America’s off-the-charts growth companies,” editor in chief Scott Omelianuk said in a statement. “They’re disrupters and job creators, and all delivered an outsize impact on the economy. Remember their names and follow their lead. These are the companies you’ll be hearing about for years to come.”

Last year, MarketBeat exceeded its projected revenue, totaling $25.5 million. So far this year, the company created two positions and onboarded both hires in the first quarter. In less than two years since moving into its first office, MarketBeat is building out its new headquarters in Cherapa II to eliminate growing pains from its growth plans.

The company is also growing in terms of offerings, which now reach 2.8 million subscribers.

Following a year of rollouts that included sentiment-based tools, MarketBeat recently became the first financial media company in the United States that enables subscribers to make investment decisions based on holistic value creation and the net impact of companies. By leveraging The Upright Project’s Net Impact data, MarketBeat subscribers can assess the sustainability of each stock at MarketBeat.com with new models measuring the societal, knowledge generation, health and environmental impacts of a company.

MarketBeat’s portfolio of financial news sites also grew with the launch of DividendStocks.com earlier this year. Although the company will continue to seek additional avenues for growth, current factors are making a more difficult business environment for companies like MarketBeat, which is forecasting similar revenue to last year’s, said founder and CEO Matt Paulson.

“This year presents a much different market environment than the last, and we’re pleased to support a growing number of investors in navigating it,” Paulson said. “Last year’s irrational enthusiasm from GameStop and AMC retail investors has come to an end. Investors are now worried about inflation and the ongoing turmoil in Ukraine. Much like the pandemic, we’re not insulated from the disruption, but we’ll continue to help others find opportunities to sustain and grow despite.”

Vikor was founded in 1989 and is a leading provider of wireless infrastructure, providing services in more than 30 states. The company performs the majority of its offered services, including wireless, small cell/DAS, wind, utility, underground, new construction, civil, maintenance, electrical, anchor inspections and more. With seven offices covering more than 16 states, Vikor is one of the largest privately owned teleconstruction companies in the nation.

“This recognition is a great representation of the foundation we’ve focused on building over the last 30-plus years” said Craig Snyder, CEO and founder.

“We have several crews traveling across the U.S. building the infrastructure that helps keep the nation connected. That takes a lot of effort, investment and the right people to make it all happen.”