Inc. 5000 recognizes Mindbody for fifth consecutive year
San Luis Obispo, CA – August 21, 2012 – Mindbody, the largest provider of online business management software to the health and wellness industry, has once again been recognized by Inc. Magazine as one of the fastest growing companies in the U.S. This is Mindbody’s fifth consecutive year on the Inc. 500|5000 List, ranking 109 among software companies and 1,341 overall. Mindbody has experienced 229% revenue growth over the last three years.
2012 marks the sixth annual Inc. 500|5000, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy – America’s independent entrepreneurs.
“The Mindbody Team is thrilled to be listed in the Inc. 500|5000 for the fifth consecutive year alongside this country’s leading entrepreneurial companies,” said Rick Stollmeyer, Mindbody’s co-founder and CEO. “Our mission is ‘Leveraging Technology to Improve the Health and Wellness of the World.’ We are honored to help our clients make this world a healthier place one small business at a time.”
According to Inc., median growth rate of 2012 Inc. 500|5000 companies remains an impressive 97 percent despite a stagnant economic environment. The companies on this year’s list report having created over 400,000 jobs in the past three years, and aggregate revenue among the honorees reached $299 billion.
“Now, more than ever, we depend on Inc. 500|5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is,” says Inc. Editor Eric Schurenberg.
Mindbody’s growth is expected to continue well into the future thanks to increasing market adoption of its SaaS solutions. Growing at a rate of over 800 new subscribers per month, Mindbody’s expansion is due in large part to its software’s ease of use and implementation as well as the development of mobile applications and third-party integrations that allow the company’s clients to operate their health and wellness businesses with the most comprehensive system under one roof.
The honorees on this year’s Inc. 500|5000 list “share a pedigree with Intuit, Zappos, Under Armour, Microsoft, Jamba Juice, Timberland, Clif Bar, Pandora, Patagonia, Oracle, and other notable alumni,” said Shurenberg in his congratulatory letter to this year’s honorees. “The class of 2012 added such powerhouses as Chobani, CDW, Levi Strauss and a little social media company called Facebook.”
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/5000.
Mindbody was founded in 2001 as the first desktop management software designed for the wellness industry. It served 75 subscribers in two states. In 2005, Mindbody moved its management system online, pioneering the industry’s first fully web-based business management system. Today, it serves nearly 20,000 businesses in 80 countries.
Mindbody’s innovative business management software serves a multitude of businesses in the health and wellness industry, including fitness, yoga, Pilates, salons, spas and martial arts businesses. These clients process over 13 million class and appointment bookings per month in the company’s software. Over 3.6 million of those sessions are booked online directly by consumers via websites, mobile devices, and Facebook pages.
About the Inc. 500|5000 Methodology
The 2012 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2011. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/500.
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. For more information, visit www.inc.com.