Third-party logistics provider MoLo Solutions was the top-ranked transportation and logistics company on the 2021 Inc. 5000 list of the fastest-growing privately held firms in the U.S.
The Chicago-based company debuted on the list at No. 41 overall, experiencing revenue growth of 7,597% between 2017 to 2020.
In all, 199 transportation and logistics companies – including software providers related to the freight industry – made the list this year. It was a 14% increase over 2020, when 176 transportation and logistics companies made the list.
Inc. ranked 5,000 companies by percentage of revenue growth from 2017 to 2020. Human Bees, a California-based workforce recruiting and staffing provider, was the No. 1 overall ranked company with 48,345% growth during the three-year period.
To qualify for the list, companies must be U.S.-based, founded by 2017 and be privately held, for-profit, and independent – not subsidiaries or divisions of other companies. The minimum revenue required to be included on the list in 2020 was $2 million.
MoLo Solutions was founded in 2017 by Matthew Vogrich, the company’s president and chief operating officer. Andrew Silver is MoLo’s CEO.
“Our team has put in a lot of work the last four years to build MoLo to what it is today. To be recognized as the 41st-fastest growing company in America is not surprising because I truly feel like we have earned it,” Silver said in a statement.
“Many of us have put everything we have into this business to support one another, our drivers, and our shippers. While it has been a lot of work, we have also had a lot of fun along the way.”
Cloud computing supply chain technology company Stord was the second-highest ranked transportation and logistics company, debuting at No. 42.
Sean Henry (CEO) and Jacob Boudreau (chief technology officer) founded Stord in 2015. The Atlanta-based company experienced 7,581% revenue growth between 2017 to 2020.
Chattanooga, Tennessee-based FreightWaves debuted at No. 85. It was the third overall ranked company from the transportation and logistics industry.
The company experienced exponential revenue growth of 4,597% from 2017 to 2020. FreightWaves provides supply chain and logistics data, news and information.
Warehousing and distribution services provider Perishable Shipping Solutions was the fourth-ranked company, making the list at No. 177. The Youngstown, Ohio-based company experienced 2,382% growth over the last three years.
Grand Rapids, Michigan-based Ally Logistics was the fifth-ranked company, coming in at No. 186. Ally Logistics’ revenue grew 2,281% from 2017 to 2020. The company is a full-service brokerage servicing the U.S. and Canada.
Rounding out the Top 10 in the transportation and logistics category list were:
- One Step GPS — Los Angeles-based software company that provides real-time GPS fleet tracking solutions. The company was No. 199.
- Roadie — Atlanta-based company is an on-the-way delivery platform that counts some of the nation’s largest retailers among its clients. Roadie was No. 203.
- Manamis Inc. — The expedited trucking company based in Los Angeles was No. 226.
- Sethmar Transportation — Freight brokerage based in Overland Park, Kansas, was No. 247.
- ShipMonk — Fort Lauderdale-based company offers shipping and logistics services to small and medium-sized businesses was No. 316.
Sumner, Washington-based CTE Logistics made the list for the ninth-consecutive year, an accomplishment less than 1% of companies have achieved, according to company officials.
Todd and Kimm Lytle founded CTE Logistics, a transportation and logistics provider, in 2008.
Jennifer Lawhead, a CTE Logistics team member, said part of the company’s continued success comes from the motto “our people are better than any system.”
“One of the ways we ensure excellence at every touchpoint is our triple check system, where everything that is processed at CTE goes through a triple check process for accuracy across different departments and team members to ensure that we’re keeping the highest levels of excellence with every shipment,” Lawhead said. “However, what makes our systems excellent isn’t just about our process. It’s our dedicated team that ensures excellence every single day.”
St. Louis-based ACERTUS appears on the Inc. 5000 list for the third consecutive year. ACERTUS is a technology-enabled automotive logistics and services provider.
“This demonstrates our unwavering commitment to excellence as we navigated some of the toughest challenges our company and the industry has ever faced,” Trent Broberg, ACERTUS CEO, said in a statement.
“A global pandemic, capacity constraints, inventory and parts shortages and natural disasters were just some of the many roadblocks. However, our team remained steadfast and focused on innovation and driving the future of automotive logistics,” Broberg said.
Ninety-six transportation and logistics companies made the list for at least the second-consecutive year, including Perishable Shipping Solutions, Ally Logistics and ShipMonk.
Last year, Tampa, Florida-based 3PL Cedar Grove Group was the fastest-growing private logistics and transportation company on the list at No. 108. The company did not make the 2021 list.
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Sumner WA based CTE Logistics made the list for its Ninth year in a row, an accomplishment less than 1% of companies have achieved.