For the third year in a row, Reliance Star Payment Services in Great Neck has been ranked by Inc. Magazine as one of the fastest-growing private-owned companies in the country.
The merchant services provider had revenue of $2.4 million in 2014 and a 98 percent increase in the past three years, according to the Inc. Magazine list, which listed the 5,000 fastest growing privately held companies.
Reliance Star appeared at number 3,366 on the list, down from their 2014 ranking of 2,318 and their 2013 ranking of 1,920.
“We could not be happier to see our hard work pay off,” President and CEO of Reliance Star Payment Services Fenella Kim said. “Ranking for the third year in a row by Inc. 5000 is a proud accomplishment.”
Founded in 2004, Reliance Star’s inclusion highlights the company’s success in what is considered the most competitive ranking since the lists inception, according to Inc. Magazine.
“The story of this year’s Inc. 5000 is the story of great leadership. In an incredibly competitive business landscape, it takes something extraordinary to take your company to the top,” Inc. President and Editor-iIn-Chief Eric Schurenberg said. “You have to remember that the average company on the Inc. 5000 grew nearly six-fold since 2012. Business owners don’t achieve that kind of success by accident.”
The average company on the Inc. Magazine list has seen a three-year-growth of 490 percent and the aggregate revenue of the 5,000 companies eclipses $205 billion, generating over 647,000 jobs over the past three years.
Prior to their stock market launching, well-known companies including Yelp, Pandora, Dell, Domino’s Pizza, and LinkedIn all gained early exposure through their ranking in the Inc. 5000.
Reliance Star, which is located at 475 Northern Blvd., specializes in comprehensive electronic payment processing and acceptance solutions.