Honored by INC. magazine as fastest growing construction industry category leader in U.S.
Cincinnati, OH, October 20, 2004 – Web-based construction software provider iSqFt has
been selected by Inc. magazine to its 23rd annual Inc. 500 ranking of the fastest-growing private companies in the country. iSqFt ranks 50th on the list with four year annual sales growth of 496% and total growth of 1,984%.
The company also ranks first overall in the construction industry category.
The Inc. 500 ranks privately held companies according to averaged year-over-year sales growth over the past four years. With approximately 75% of all new job creation in the U.S. coming from small businesses, the Inc. 500 is a prescient indicator of the companies and industries that are driving the economy forward.
As a web-based construction information, document management and bid solicitation solutions company, iSqFt connects general contractors, subcontractors, suppliers and manufacturers online. Its Web-based software provides access to project information and powerful work tools to manage the bidding process effectively, saving time and money in the process.
“Being selected to the Inc. 500 list is a tremendous honor for our company, our employees, our business partners and above all, our customers,” said Dave Conway, iSqFt chief executive officer. “Our revenue has doubled for four consecutive years and will also double again this year as customers continue to realize value in the services we provide.”
“Our selection to this list verifies that web-based services are rapidly becoming mainstream business tools in the construction industry. It also verifies our position as the industry’s leading provider of online bid management solutions.”
To be eligible for this year’s Inc. 500, companies had to be independent and privately held
through their fiscal year 2003, have had at least $200,000 in net sales in the base year of 1999 for Inc. 500 alumni and 2000 for new applicants, and $2 million in net sales for 2003. In addition, their 2003 sales had to exceed 2002 sales. Companies are ranked on averaged year-over-year sales growth. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.
Founded in 1993 as Construction Software Technologies, Inc., Cincinnati-based iSqFt help tens of thousands of contractors, subcontractors, suppliers and professional estimators across the U.S. find work, reduce costs and increase efficiency.
The company provides the Internet Plan Room,™ a secure, business web site providing subcontractors, suppliers and professional estimators with 24-hour, online access to project information, plans and specifications for publicly bidding construction projects.
The company also offers the Private Construction Office™, providing general contractors with a private digital workspace featuring a secure, automated bid solicitation tool for public, private and negotiated projects and allowing for quick document distribution over the Internet to subcontractors and suppliers.
iSqFt has enjoyed an important, strategic partnership with the Associated General Contractors of America since 2001, working with AGC chapters to build and maintain Internet Plan Rooms within local markets. Additional partnerships include those with Associated Builders and Contractors, Construction Data Corporation, Construction News Corporation, and the Mountainlands Area Plan Room.