According to the report, Fargo-based Intelligent InSites takes the lead as fastest growing startup in North Dakota.
Mattermark gives its scoring (MM Growth Score) based on an average of all weekly momentum scores, which it determines by the growth of 6 signals: web traffic, mobile downloads, inbound links, Twitter followers, Facebook page likes and Linkedin followers.
Intelligent InSites, as Mattermark describes, “converts automatically-collected data into actionable insights for healthcare organizations to optimize operations.” They currently are one of the leading providers for real-time operational intelligence within the healthcare industry, and service hospitals across the nation – including local hospitals like Sanford.
In Mattermark’s report, InSites scores in the 90th growth percentile, with a mindshare (public awareness) score of 116. To put that in perspective, mega-startups like Uber are ranked in the 99th growth percentile.
Although it was founded in 2003- putting them at what Mattermark classifies as the “late” stage – Intelligent InSites has seen an extraordinary amount of growth just this year. From May to September 2014 their estimated amount of weekly unique visits to their website jumped from -84% to 16%.
The reports also show that InSites has received a total of $5,161,000 in funding, backed by investors Silicon Pastures, Health Insight Capital, and Arthur Ventures. They currently have 104 employees.
Other local startups also show healthy growth rate. Myriad Mobile comes in at the 95th growth percentile, with others like AdShark Marketing, RealTruck.com, and Pedigree Technologies in the 90th percentile.
But Fargo’s connection to these fast-track startups extends further than the borders of North Dakota. Fargo-based venture capital firm Arthur Ventures, in addition to being a primary investor for Intelligent InSites, also has investments in LeadPages, Mattermark’s fastest growing startup for Minnesota, and Infusionsoft, fastest-growing startup in Arizona and long-time friend of Fargo. (Read Infusionsoft’s CTO’s 5 secrets for how they’re growing so fast here!)
In short, it’s a good age for startups, both here and across the country – and the globe. In fact, topping the charts of fastest growing startups is an Amazon-esque online shopping site in Bangalore, India, called Flipkart. They are in the 99th percentile for growth, with a mindshare score of 1672. They were founded in 2007, and in those seven years they have raised a jaw-dropping $2,351,140,000 and currently have 6,435 employees.
Of course, as a Tech(dot)MN article pointed out, these rankings are not infallible.
“Like many of these types of reports and rankings, there’s inherent subjectivity and often incomplete data at play,” writes reporter Jeff Pesek. “For example, ‘growth’ can be considered a number of ways (revenue?)”
Naturally, one should take in these stats with a grain of salt. But Pesek does point out that this ambitious 100+ page (99$) project from Mattermark is a necessary step towards “a more measured market future.”
Other features on the Mattermark site include viewing Competitive Series A candidates, Fastest Team Size Growth, Potential Unicorns, and European Startups. As there are currently no other platforms like Mattermark, the goal of this one-year-old company is to become THE data signaling platform for venture capital firms.
Infographic courtesy Mattermark.