TORRANCE, CA--(Marketwired - August 26, 2014) - Solar leader Verengo Inc. announced today it was again named to the Inc. 500|5000 List, an exclusive ranking of the nation's fastest-growing private companies. This marks the fourth consecutive year that the nation's premier residential solar specialist has earned this honor.
Verengo achieved a national ranking of #1332 on this year's Inc. 500/5000 list by growing its revenue to $116M in 2013. The figure represents a 324% growth over the past three years.
"We are proud to be included on this iconic list for the fourth straight year," said Verengo CEO and Co-Founder Randy Bishop. "In our view, our continued growth is the result of the entire Verengo team's focus on providing a positive solar experience, one customer at a time. From day one we've relentlessly focused on saving our customers money, helping them protect themselves from rising electricity rates, and delivering a great customer experience. That's how we've built a record of consistently exceeding customer expectations, and that's how we'll continue to grow in the years ahead."
"Today, solar is the fastest-growing source of renewable energy in America, providing 74 percent of all new electric capacity in the first quarter of this year," said Verengo President and Co-Founder Ken Button. "Now that rooftop solar has become affordable to middle and lower income households, more and more people are telling their friends and neighbors about the money they save with solar. We are proud of our high referral rate from our customers and believe that nothing demonstrates success like great word of mouth."
Verengo Inc. has changed the way America thinks about solar! Verengo ranked #1 on the Solar Power World list of Top Residential Solar Contractors in the U.S., has been named to Inc. Magazine's List of America's Fastest Growing Companies and consistently maintains an A+ rating with the Better Business Bureau. The company markets, sells and installs solar photovoltaic systems, which enable homeowners to save money on their electricity bills and replace dirty electricity with clean, renewable energy. Verengo has grown 700% over the past 4 years and has added 900 new employees over that period. A recent survey found that 92% of Verengo customers would refer the company to their friends and family. The company has earned this recognition and customer satisfaction by making solar easy and affordable for its customers and delivering superior customer service.
About Inc. and the Inc. 500|5000
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today's innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today.
An exclusive ranking of the nation's fastest-growing private companies, the Inc. 500 represents the most comprehensive look at the most important segment of the economy -- America's independent entrepreneurs. Companies such as Yelp, Pandora, Timberland, Dell, Domino's Pizza, LinkedIn, Zillow and many other well-known names gained early exposure as members of the Inc. 500|5000.
The 2014 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2010 to 2013. To qualify, companies must have been founded and generating revenue by March 31, 2010. They had to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2013. The minimum revenue required for 2010 is $100,000; the minimum for 2013 is $2 million.