The fastest-growing startup in Colorado, according to the Inc. Magazine’s recently-released list, grew 3,000 percent over three years – all by charging homeowners a $2,500 fee when they sell their house instead of a commission.
Redefy Real Estate was the highest-ranked of 15 Colorado companies to make this year’s Inc. 500 after its revenue grew from $295,000 in 2012 to $9.6 million in 2015.
The 15 Colorado companies on this year’s Inc. list boasted a total of $339 million in revenue in 2015 and grew, on average, 1,709 percent between 2012 and 2015.
Last year, 13 Colorado companies made the Inc. 500, averaging a higher growth rate at 2,734 percent but lower combined revenue of $109 million.
Redefy CEO Jordan Connett said the startup added six offices this year – four corporate-owned and two franchises. That brings Redefy to a total 15 offices in 11 states, with plans for at least three more offices to open by years end, in Atlanta, Kansas City and Nashville.
Connett hopes making the list will give his startup more street cred.
“One of the big things that we see with our model is that people really question if we can do what we really say we’re going to do,” he said. “If you can prove to them with reviews as well as outside verification that this isn’t a one-time deal…you start to gain credibility within the consumer’s mind.”
Connett said that once he looked at its revenue growth for last year, he realized the startup had a good shot of making the list. Like all applicants, Redefy submitted financial reports, completed two surveys and interviewed with Inc.
Connett said Redefy sold 1,300 houses last year and is on pace to sell 2,700 houses in 2016. The company has 425 employees (including agents), with 40 based in Aurora.
The remaining 14 companies from Colorado on this year’s Inc. list include Apto, a commercial real estate software company in Denver, and WellTok, which makes a health-tracking mobile app and went on an acquisition spree last year.
Colorado was the 14th fastest-growing state – coming in behind North Carolina, according to Inc., with 126 companies landing on the Inc. 5000 list.
|Redefy Real Estate||3154%||$9.6m||Real Estate||Denver|
|Aleph Objects||2782%||$15m||Computer Hardware||Fort Collins|
|Blue Canyong Technologies||2224%||$5.4m||Engineering||Boulder|
|MOD Mission Critical||1816%||$2.9m||IT Services||Denver|
|Rocky Mountain Barrel Company||1692%||$6.1m||Food & Beverage||Denver|
|ILendingDIRECT, powered by Fleet Financial||1382%||$245.3m||Financial Services||Denver|
|Marijuana Business Daily||1288%||$7m||Media||Denver / Providence, R.I.|
|Nutrislice||928%||$2.6m||Food & Beverage||Denver|