|By PR Newswire||
|August 22, 2013 07:01 AM EDT||
NEW YORK, Aug. 22, 2013 /PRNewswire/ -- OnDeck (www.ondeck.com), the technology-powered Main Street lender, announced today they have been named to the 2013 Inc. 500|5000 list, a compendium of the most entrepreneurial and fastest growing companies in America, for the second year in a row. Demand for financing through the OnDeck platform continues to expand, and today's announcement underscores the company's commitment to helping small businesses access the capital they need to grow. The company was ranked #660 this year overall, #41 among top financial service companies and #55 among all New York City metro area companies.
The OnDeck technology platform has become a key solution to America's broken lending system. To date, OnDeck has deployed over a half a billion dollars to tens of thousands of businesses nationwide, across 700 different industry verticals. The company's platform leverages big data to better identify the creditworthiness of small businesses, making the borrowing process exponentially faster, easier, and more transparent for the business owner.
"We are honored to be included in the prestigious Inc. 500|5000 list among our peers and the country's most successful and innovative businesses," said Noah Breslow, chief executive officer, OnDeck. "OnDeck has transformed how money flows to small businesses and we will continue working to make capital on demand a reality for Main Street. This achievement is yet another testament to our company's passion and advocacy for the small business owners across America."
This year alone, OnDeck has achieved several major accomplishments, including: being named to Forbes' 100 List of America's Most Promising Companies; moving to new headquarters in New York City to accommodate rapid growth and opening a new Western regional office in Denver; launching product enhancements such as larger loan sizes and extended customer service hours; and completing Series D financing totaling $59M, led by Institutional Venture Partners and Google Ventures.
For 32 years, Inc. has welcomed the fastest-growing private companies in America into a very exclusive club. Published annually, the Inc. 500|5000 list represents the most comprehensive look at an important segment of the economy—America's independent entrepreneurs. In 2012, OnDeck ranked #302 on the list with a three-year growth rate of 1,233 percent. Companies such as Intuit, Zappos, Microsoft, Pandora and Oracle are other notable alumni.
Launched in 2007, OnDeck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the OnDeck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history. The OnDeck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
OnDeck has deployed over $600 million in capital to tens of thousands of businesses in 700 different industries. The company is growing at greater than 100% annually, and was recently named to Forbes' 100 Most Promising Companies in America list and the Inc. 500. OnDeck is financed by some of the nation's leading venture capital firms, including Google Ventures, SAP Ventures, RRE Ventures, and Institutional Venture Partners.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today's innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.