Tablet and children’s app developer Fuhu has topped the Inc. 5000 list, an annual ranking of the fastest-growing private companies in the country, for the second year in a row.
The El Segundo company made $196 million in revenue last year and posted a 159,000 percent three-year growth rate, according to Inc. Magazine. In line with the growing trend of family-friendly tech, Fuhu announced Tuesday the newest additions to its Nabi tablet line, which include 20-inch and 24-inch screens to foster group use among parents and children.
Of the 30 L.A. County companies that cracked the top 10 percent, half were tech-related with industries ranging from advertising, clean energy and consumer goods. Financial services provider FastPay, ad tech firm PK4 Media and crowd-sourcing campaign platform Tongal were just a few whose top 500 ranking marked their debut on the list.
“L.A.’s firmly establishing itself as a city that embraces innovation and has the talent pool and environment to build great technology companies,” James DeJulio, Tongal co-founder and president, said in an email. “It also screams that L.A. is no longer a single industry town. If economic growth isn’t going to come from the box office, it’s going to have to come from somewhere else – and it’s a wildly exciting time.”
Staff reporter Melissah Yang can be reached at [email protected]. Follow her on Twitter @MelissahYang for the latest in L.A. tech news.
