Information Technology Co. among the top 50 second-stage businesses honored statewide
November 12, 2020, Orlando, FL – Embark Safety is pleased to be among the top 50 second-stage companies in Florida selected as a 2020 GrowFL Florida Companies to Watch honoree, a statewide competition that identifies companies expected to see significant growth over the next several years. The 2020 GrowFL Florida Companies to Watch awards celebration is brought to you by Nperspective CFO & Strategic Services, in association with the Edward Lowe Foundation.
Companies to Watch was developed by the Edward Lowe Foundation as a unique way to recognize and honor second-stage companies that demonstrate high performance in the marketplace with innovative strategies and processes, making them “worth watching.” GrowFL received more than 400 nominations for the award this year.
“We’re very thankful to receive this honor in our home state of Florida,” said Edwin Sosa, President of Embark Safety. “This has been a particularly challenging year for many businesses but we’ve endured with resilience and passion.”
82 finalists were announced earlier this year, and the 50 honorees were selected after a final round of judging by a panel of independent judges comprised of past honorees, economic development leaders, and corporate partners of GrowFL. Companies were judged on a number of criteria including growth in the number of employees; impact of the business in the job market; increase in sales and/or unit volume; current and past financial reports; innovativeness of the product or service; response to adversity; and contributions to aid community-oriented projects.
“These stand-out companies are all led by entrepreneurs, and have demonstrated not only their willingness to grow, but their capacity to do it successfully,” said Dr. Tom O’Neal, GrowFL Founder. “They are all positioned to make a significant impact on Florida’s economy with their products, services, critical intellectual property or a niche position that gives them a competitive edge in their markets. These business owners demonstrate strong leadership, philanthropic involvement, perseverance and all it means to be an entrepreneur.”
From 2016 through 2019, these companies generated $813 million in revenue and added 668 employees, reflecting a 103% increase in revenue and 113% increase in jobs for the four-year period. That translates into a 27% average annual revenue growth and 20% average annual growth in employees.
Even through the pandemic, these companies projected continued growth in 2020, with a 15% revenue increase and 17% growth in employees compared to 2019. If their projections hold, these companies will have generated $1.14 billion in revenue and added 887 employees over the last five years – a 133% increase in revenue and 150% increase in jobs since 2016.
About Embark Safety
Embark Safety’s innovative system monitors employees’ driving records continuously and sends real-time notifications when new changes occur, such as violations, suspensions, and accidents. The system allows companies to reduce accident risk, avoid litigation, and improve public safety. Headquartered in Orlando, Fl, we are a proud SaaS provider to more than 1,000 companies across the country and Canada.