BROOMFIELD, Colo., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Alpine IQ has cemented itself as a national leader, earning the title of 10th fastest-growing company in America on Inc.'s Top 5,000 list out of 33 million businesses in the United States.
With a blistering 16,469% revenue growth rate, the Colorado-based startup with an all-in-one platform that combines omni-channel messaging, loyalty programs, and customer data into a complete retail growth engine, claims the crown as the fastest-growing company in its home state and the second-fastest growing software company in the nation.
Founded by Nicholas Paschal, Shahzil Abid, and West Paschal, Alpine IQ has shattered expectations, catapulting its revenue from $150,000 in 2020 to $26 million in 2023.
That’s an increase of 173 times.
Now with a team of over 90 dedicated professionals and more than $35 million in annual recurring revenue, Alpine IQ is hungrier than ever to push the boundaries of innovation.
The company obliterated the industry’s Rule of 40, doubling it with a combined revenue growth rate and profit margin of 85%.
This is even more remarkable, given Alpine IQ’s lifetime funding burn of just $750,000.
"Dirty data—incorrect or duplicate consumer information—is one of the biggest obstacles to operating a successful customer loyalty program," said Nicholas Paschal, CEO of Alpine IQ.
"When the pandemic brought brick-and-mortar sales to a standstill, many retailers were left struggling. But we saw an opportunity. By partnering with leading point-of-sale systems and retail platforms, we developed a system that not only cleans up dirty data but sets a new industry standard, empowering retailers with accurate customer information. This has resulted in our clients experiencing 85% growth in loyalty member enrollment, 49% of revenue generated from members and 15% increase in average transactions - all in, a substantial increase in sales and customer retention."
Today, Alpine IQ partners with over 4,000 storefronts, driving a gross merchandise value of $32 billion. As a testament to its vibrant culture, Alpine IQ has also earned certification as a Great Place To Work.
About AIQ:
Alpine IQ, headquartered in Broomfield, Colorado, is a customer data, loyalty, marketing, and analytics platform. AIQ solutions empower businesses to streamline core operations and make informed decisions with ease. We cater to organizations of all scales, from small family-owned enterprises to large publicly listed corporations, ensuring that our solutions are accessible and beneficial to businesses of every size. Learn more at https://aiq.com/
For further information: Daniel Aversa, SVP Marketing, daniel.aversa@aiq.com
