Aggressive acquisition strategy leads to skyrocketing revenue growth for MDO, which has risen from 608th on the list in 2022 to 378th in 2023.
BETHESDA, MD., AUGUST 15, 2023 – MDO, a hotel data platform that centralizes and operationalizes critical performance and financial data for hotel companies, has ranked No. 378 on the Inc. 5000 list of fastest-growing private companies in America. The ranking provides a data-driven look at the most successful independent and entrepreneurial companies in the U.S., and MDO has made the list for two consecutive years.
“We are thrilled to be among the top 10% of America’s fastest-growing private companies, but even more proud of our customers’ improved financial and operational performance enabled by our solutions,” said Vic Chynoweth, recently named CEO of MDO. “I’d like to thank the MDO team for their dedication to enabling our hotel customers to take full advantage of our platform to make more informed business decisions.”
MDO ranked 47th on the fastest-growing list within the Software category.
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. In all, the 2023 Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years. For complete results of the Inc. 5000, including an interactive database that can be sorted by industry and location, visit www.inc.com/inc5000.
“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000 – with the fast growth that requires – is truly an accomplishment.”
Over the past decade, MDO has evolved from a hotel-specific digital document storage solution to a holistic hotel data platform serving nearly 7,000 hotels. A next-generation business intelligence platform, announced in 2023, is enabling hotel owners and operators with the data and analytics they need to improve revenue, profit and guest satisfaction. Recently, MDO strengthened its senior leadership team with executives that combine decades of hospitality-specific technology experience with expertise in building modern and scalable software solutions.
Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue byMarch 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 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.
