Burgs companies among fastest growing
Blacksburg-based Harmonia made Inc. Magazine’s “honor roll” this year, as the software company was named one of the top 5,000 fastest growing companies in America for the fifth straight year.
Harmonia first made the annual Inc. 5000 list in 2009 when it came in at No. 2,175. This year, it ranked No. 1,446 with a three-year revenue growth of 278 percent.
The company was established in 1999 and now resides within the Virginia Tech Corporate Research Center. It mainly deals in government contracts, building new software, maintaining existing systems and offering staffing support to larger projects.
It has specialized a variety of areas, from creating user-friendly interfaces for battleships, to its most recent venture into designing a way for Navy sailors to make purchases without cash. Their new “NavyPal” system lets crews aboard ships swipe a card to buy things now, then settle those charges when they get to shore.
Harmonia’s revenue has grown from $2.1 million in 2009, to $8.1 million last year, according to Inc.
Company CEO Pallabi Saboo said the growth has lent the brand more credibility with potential customers and given employees a sense of security that it won’t be going under anytime soon.
But that doesn’t mean it plans to maintain its upward trajectory.
“When we started way back, we were two and a half people. Today, we are 117 people,” she said. “We can’t grow at that rate and it would not be wise to grow at that rate because then if you don’t win a contract you were planning for you would have to let go of people. I think that [growth] percentage will keep reducing intentionally from our side. Because we want to manage the growth to be sustainable.”
Harmonia was joined on this year’s fastest growing list for the first time by CCS Inc., a Christiansburg-based computer hardware company. CCS’s revenues have grown 36 percent over the past three years, capturing it the No. 4,959 spot.
“Montgomery County congratulates CCS and Harmonia on being named to the Inc. 5000 list,” Montgomery County Economic Development Director Brian Hamilton said in press release. “Their success reinforces that our community is a great place to start and grow a business.”
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