Forbes: Code42, HighJump Software Among ‘Most Promising Cos.’

Forbes: Code42, HighJump Software Among ‘Most Promising Cos.’

Strong growth helped both Twin Cities firms make the list.

Minneapolis-based Code42 and Bloomington-based HighJump Software have been named among the country’s “most promising companies” in a new ranking by Forbes.
 
The Twin Cities software companies ranked 80th and 89th, respectively, on Forbes’ list. Code42’s 71 percent revenue growth year-over-year and HighJump’s 278 percent played no small part in landing on the list.
 
Companies that made the cut were required to be privately held and make less than $300 million annually. Revenue growth played the largest part in the rankings, but growth rates, employment numbers, operating margins, capital raised and management, among other factors, were taken into account.
 
“Placing one company before another is never easy but one thing you can be sure of is that each firm is going places— being it to an IPO, an eventual acquisition by a much larger player or simply on to greater profits,” Forbes wrote.
 
Instacart, a San Francisco-based grocery delivery service took top spot as most promising.
 
HighJump made the Forbes list last year, albeit with a different name—rival firm Accellos of Colorado Springs, Colorado acquired the company, though the brand operates under the HighJump name. Accellos was named among 2014’s most promising.
 
Code42 has continued to make waves recently. The company launched a Dropbox competitor this past fall. It also announced a move to the proposed MoZaic East building in Uptown before later pulling out of the project without providing details.
 
Forbes’ entire ‘Most Promising’ list can be viewed here.