ChangeUp, an independent retail brand experience agency, has been named to the inaugural Inc. 5000 series: Midwest list, the publication’s prestigious ranking of the fastest-growing private companies in the 12 US Midwest states. With two-year revenue growth of 121%, ChangeUp placed 175th in the Midwest, 15th among the retail industry, and second for the retail industry in Ohio.
“It’s an honor to be recognized by the Inc. 5000 list and ranked alongside so many remarkably innovative businesses,” says Lee Carpenter, CEO and co-founder of ChangeUp. “Our business is changing the future of retail experiences across a wide variety of industries nationally, and our growth is a testament to our amazing team that has adapted as our business has transformed into where we are today.”
Part of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the Midwest economy’s most dynamic segment—its independent small businesses.
“The companies on this list demonstrate just how much the small-business sector impacts the economies of each Midwest state,” says Inc. Editor-In-Chief Scott Omelianuk. “Across every single industry, these businesses have posted revenue and growth rates that are beyond impressive, further proving the tenacity of their founders and CEOs.”
“It’s rewarding to be on the leading-edge of change,” says Lynn Gonsior, COO and co-founder of ChangeUp. “The last year has been full of disruption in our industry. From the threat of a literal retail apocalypse to COVID-19, we’ve helped clients grow and adapt their brand strategy, customer experience, and architectural design.”
The companies on this list show stunning rates of growth across all industries in Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin. Between 2016 and 2018, these 250 private companies had an average growth rate of 360 percent and, in 2018 alone, they employed more than 27,000 people and added $13 billion to the Midwest’s economy. Companies based in the Chicago, Detroit, and Cincinnati areas brought in the highest revenue overall.