Higher One Ranks # 85 on 2007 Inc. 500 List of Fastest Growing Companies in the United States |
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By: Higher One Posted: 2007-08-25 13:36:03 |
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Higher One, a technology-driven financial services company serving higher education, is ranked near the top of the 2007 Inc. 500 list of fastest-growing companies in the United States at #85. The award was announced today by John Koten, Editor-in-Chief and Chief Executive Officer for Mansueto Ventures, the publisher of Inc. magazine.
Higher One was named to the Inc. 500 as a result of managing the disbursement of $2.2 billion for its client institutions totaling more than 1.6 million transactions, and sustaining an extraordinary three-year sales growth rate of 1748%. The company's 100 percent customer retention rate is one reason their client base has doubled every year since its inception in 2000. Higher One is a fast-growing company that has leveraged its solid business model to capture and increase its leadership position within the industry. "This is quite an honor for us," said Dean Hatton, President and CEO of Higher One, "Making the Inc. 500 is a testament to the hard work and dedication that our employees have put into providing students and college administrators with increasingly relevant services. Higher One continues to focus on satisfying an unmet need in higher education by introducing refund disbursement programs that offer significant cost savings for universities while expanding choices for its students." The 2007 Inc. 500, as revealed in the September issue of Inc. magazine (on newsstands August 28 - October 2), reported aggregate revenue of $16 billion and median three-year growth of 939 percent. Most importantly, the 2007 Inc. 500 companies were engines of job growth, having created more than 64,064 jobs since those companies were founded. "If you want to find out which companies are going to change the world, look at the Inc. 500," said Inc. Editor Jane Berentson. "These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition." Formal presentation of the award will take place at the Inc. 500 Conference and Awards Ceremony in Chicago on September 6-8. About Higher One Founded in 2000, Higher One provides higher education institutions and their students with efficient, convenient and easy-to-use solutions to handle financial disbursements including student refunds, on-campus and community purchases, and payroll and employee expenses. The company also offers a suite of online banking services through OneFinance(SM), which includes the OneAccount, a free checking account and OneCard, a Debit MasterCard(R) with exclusive features such as "Send Money", Easy Refund(SM), and Campus AutoLoad. Higher One is based in New Haven, CT. About Inc. Magazine Founded in 1979 and acquired in 2005 by Mansueto Ventures, LLC., Inc. magazine (http://www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 681,421, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Media Contacts: Melissa Kanter/Somna Maraj, Edelman 212.704.8261/8175 |
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