Inc. Magazine has ranked Evolution Benefits, now known as Evolution1, as number 1,528 on its fifth annual Inc. 500|5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Online retailer ideeli tops this year’s list. Evolution Benefits joins Spirit Airlines, television maker Vizio, Honest Tea, Dunkin’ Donuts and Metrokane, makers of the Rabbit corkscrew, among other prominent brands featured on this year’s list.
In a stagnant economic environment, median growth rate of 2011 Inc. 500|5000 companies remains an impressive 94 percent. The companies on this year’s list report having created 350,000 jobs in the past three years, and aggregate revenue among the honorees reached $366 billion, up 14 percent from last year.
Evolution Benefits and Lighthouse1 recently merged to create Evolution1, the nation’s largest electronic payment, on-premise and cloud computing healthcare solution that administers reimbursement accounts, including HSAs, HRAs, FSAs, VEBAs, Wellness and Transit Plans.
“This is the fourth consecutive year that Evolution Benefits has been named to the Inc. 5000 list,” said Jeff Young, CEO of Evolution1. “We’re extremely proud of this accomplishment, especially given the country’s economic challenges and the major changes in the healthcare industry. We look forward to building on the success of both Evolution Benefits and Lighthouse1 through Evolution1.”
“All of us at Evolution1, together with our Partners, share a vision of next generation healthcare technology and services,” Young continued. “We remain fully dedicated to reducing costs and simplifying the business of healthcare.”
Young credits robust technology innovation, industry-leading mobile application functionality, and strong Partner success for the company’s exceptional revenue growth over the past three years.
Evolution1 serves more than seven million consumers, 50,000 employers, and 400 administrators, health plans and financial institution Partners. The company employs more than 250 people and operates offices in Avon, Connecticut; Fargo, North Dakota; Minneapolis, Minnesota; and St. Louis, Missouri.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on www.inc.com/5000.
Evolution1 and its Partners serve more than seven million consumers, making it the nation’s largest electronic payment, on-premise and cloud computing healthcare solution that administers reimbursement accounts, including HSAs, HRAs, FSAs, VEBAs, Wellness and Transit Plans. It is the only solution that meets up to 1,200 unique plan designs, provides innovative auto-substantiation technologies, simplifies user experience, and automates workflow for Partners, employers, and consumers. It does all this on one technology platform comprised of Lighthouse1™, PayDirect®, the Benny® Prepaid Benefits Card, Lighthouse1 OneCard™ and integrated web portals. Evolution1 and its Partners are dedicated to delivering value, reducing costs and simplifying the business of healthcare.