With Three-Year Revenue Growth of 1341%, Octane Ranks in the Top 10% of America’s Fastest-Growing Private Companies
NEW YORK, August 16, 2022 – Today, Inc. revealed that Octane® (Octane Lending Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, is No. 462 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. Octane also ranked 38th in New York and 50th in the Technology Industry. The list represents a one-of-a-kind look at the most successful companies within the economy’s most dynamic segment—its independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“Octane is having a monumental year and I’m honored to see our success recognized by Inc through our ranking on the Inc 5000,” said Jason Guss, CEO. “Thank you to our team and our partners for both helping us to reach this significant milestone and for supporting us on our journey to connect people with their passions and make buying better.”
The companies on the 2022 Inc. 5000 have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Together, the top 500 companies added more than 68,394 jobs over the past three years. Octane’s staff grew by 80 percent in 2021 alone, and the company now has over 550 employees.
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/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, which will be available on August 23.
“The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated,” says Scott Omelianuk, editor-in-chief of Inc. “Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today.”
Between January and June 2022, Octane increased originations by 67% year over year through its in-house lender Roadrunner Financial, Inc. The company overcame inventory constraints and other headwinds to solidify its position as one of the top three non-captive lenders in the recreational lifestyle industry. In addition, Octane entered the tractor and trailer markets, expanding its total addressable market to $40B, signed new OEM partnerships, and launched new products to increase the speed and ease of buying.
About Octane:
Octane is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases – including powersports vehicles and OPE – fast, easy, and accessible.
Octane adds value throughout the customer journey: inspiring enthusiasts with our editorial brands, including Cycle Worldand UTV Driver, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing.
Founded in 2014, we’re a remote-first company with 550+ employees and over 30 OEM and 4,000 dealer partners. Visit www.octane.co.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine’s September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
About Inc.
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, visit http://conference.inc.com/.
