Inc. magazine ranks ITRenew No. 2255 on its annual list of America’s fastest-growing private companies, with 2015 revenue in the top 10 percent
ITRenew, a global service provider that has revolutionized the IT asset disposition (ITAD) and data sanitization industry, today announced it has been named to the 35th annual Inc. 5000, the most prestigious ranking of the nation’s fastest-growing private companies. The 2016 Inc. 5000 is ranked according to percentage revenue growth when comparing 2012 to 2015. Inc. ranked ITRenew No. 2255 with three-year sales growth of 161 percent. At $72.3 million in 2015 gross revenue, ITRenew finished in the top 10 percent of all companies ranked.
“We feel extremely honored to make the Inc. 5000, but at the same time vindicated,” said Aidin Aghamiri, vice president of corporate strategy at ITRenew. “Several years ago we were faced with a tough decision: to be like everyone else in the industry or take the risk and reinvent it. Fortunately, our innovative spirit prevailed.”
According to Aghamiri, ITRenew had been working with Silicon Valley internet and social media giants when it realized traditional methods of managing IT asset recovery and data security at decommission – developed some 15 years ago and still widely in use today – would no longer suffice in the emerging era of cloud-based computing, enterprise mobility and high-capacity data storage. Rather than tweak outdated processes or add workarounds that drove up costs and security vulnerabilities for the customer, ITRenew started over. The company collaborated with its clients to pioneer a new approach to servicing the decommissioning needs of the largest data centers in the world. An undertaking that was spearheaded by the development of Teraware: the industry’s first enterprise-grade data sanitization and asset management platform to be developed by an ITAD service provider.
A decision, Aghamiri says, that ultimately lead to ITRenew being recognized by Gartner as Visionaries in the Magic Quadrant for IT Asset Disposition, Worldwide, and now has the company at the tipping point of explosive growth. While ITRenew projects 25 percent revenue growth in 2016, and nearly double the profit, future prospects are even greater. According to a July 2016 Gartner report, more than $1 trillion in IT spending will be affected by the shift to cloud during the next five years, making cloud computing one of the most disruptive forces of IT spending since the early days of the digital age.
“There is no company in our industry better positioned to benefit from the cloud explosion than ITRenew,” said Aghamiri. “Our solution was engineered from the ground up for the cloud and has been battle-tested for years by companies operating the largest cloud infrastructures in the world. We’ve proven our ability to handle the high-volume, high-capacity, high-velocity needs of these environments, while other providers cling to massive investments in legacy processes that are just not cut out for this kind of complexity and scale.”
While ITRenew made a name for itself servicing the veritable Who’s Who of Silicon Valley in the data center, the company has developed a much more diversified portfolio. It processes millions of IT assets of every type, supporting the Fortune 500 to SMB, across the U.S. and in 40+ countries, through a global network of company-owned facilities.
With Teraware, once again, being the integral cog. “By developing our own software and integrating it into all aspects of the service, we can do things other providers simply cannot,” said Aghamiri. “We aren’t reliant on third-parties to customize solutions and provide our customers the flexibility they need. We can also take the software beyond its functional boundaries to plug gaps in conventional processes.”
ITRenew recently announced its Innovation Center, another industry first, which is 100 percent dedicated to keeping the company in the driver’s seat of market-altering development. “Innovation is the cornerstone of everything we do; it’s part of our DNA,” said Aghamiri.
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Headquartered in the heart of Silicon Valley, ITRenew has pioneered a revolutionary software-driven approach to ITAD that streamlines traditional processes while delivering superior financial returns and security for enterprise data. ITRenew was the first ITAD service provider to develop its own proprietary data sanitization platform, Teraware, which has been recognized by Gartner as a competitive differentiator. Teraware is the only software to be certified to erase solid-state drives (SSDs) at a forensic level. ITRenew is 100 percent dedicated to ITAD and specializes in complete lifecycle management for enterprise IT, mobile and data center equipment.
About Inc. 5000
The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list of the nation’s most successful private companies has become the hallmark of entrepreneurial success. For more information, visit http://www.inc.com.