Recognized for the Second Consecutive Year Among America’s Fastest-Growing Private Companies
PITTSBURGH, August 13, 2024 – Magna5, a national leader in managed IT services, cybersecurity, and cloud solutions, proudly announces its inclusion on the prestigious Inc. 5000 list for the second consecutive year, ranked at No. 1592. This recognition underscores Magna5’s rapid growth, innovative solutions, and unwavering commitment to delivering exceptional service to businesses across the United States.
The annual Inc. 5000 list provides data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Microsoft, Chobani, Oracle, and Patagonia, among many other household-name brands, gained their first national exposure as honorees on the Inc. 5000.
“We are incredibly proud to be named among the Inc. 5000 for the second year in a row,” said Robert Farina, CEO of Magna5. “As the demand for cybersecurity, cloud, and managed IT services continues to surge, we remain committed to understanding our customers' needs and investing in our people, technology, and processes. Our dedicated team and strong client relationships have been key to delivering world-class solutions and driving our growth.”
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, who recently joined Inc. as editor-in-chief. “To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”
Magna5’s growth is driven by a comprehensive suite of services, including Managed IT, Cybersecurity, Private and Public Cloud, and IT Consulting and Procurement. Magna5 is continually expanding its service offerings and investing in cutting-edge technology. Through strategic acquisitions of several managed services providers, Magna5 has broadened its market presence and enhanced its service delivery capabilities. The company’s ability to adapt to the needs of their clients has solidified its position as a trusted partner for businesses.
“We are constantly evolving to meet the demands of our clients and the industry,” added Farina. “This recognition by Inc. is a powerful motivator for us to keep innovating and delivering unmatched value. We are excited about the future and remain committed to becoming the industry’s most trusted IT partner.”
About Magna5
Magna5, a NewSpring Holdings platform, provides comprehensive managed IT services, cybersecurity, private and public cloud hosting, IT consulting and procurement, and other advanced IT solutions. Serving SMB, mid-market, and enterprise customers, Magna5 is a trusted partner for leaders in healthcare, financial services, legal services, education, manufacturing, non-profit, government, and other industries. Headquartered in Pittsburgh, PA, Magna5 serves customers nationally. For more information, visit www.magna5.com.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 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.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
