BOLT ON TECHNOLOGY has been named once again to the 2020 Inc. 5000 list of fastest-growing private companies. This marks the fifth consecutive year the company, founded 12 years ago in suburban Philadelphia, has ranked on the prestigious business list. According to Inc., BOLT ON is in rare company, as only four percent of companies achieve this honor five years in a row.
BOLT ON made the list with a three-year revenue growth rate of 85.5 percent. According to Mike Risich, founder and CEO, the company owes its success to facilitating the trend of automotive repair shops using technology to better engage car owners and create more loyalty. Among other things, BOLT ON’s software allows repair shops to document a vehicle’s condition with photos and other multimedia and send complete digital vehicle inspection reports with technician notes to the customer’s cell phone or tablet, helping to build trust and generating more revenue and repeat business for those shops. The company is nearing 50 million repair photos sent by shops to their customers using BOLT ON software.
“This is further recognition that BOLT ON TECHNOLOGY has tapped into a driving need among repair shops to provide more transparency to customers each step of the way, and they are being rewarded with greater loyalty, better reviews, and more repeat business,” said Risich. “We’re extremely excited to breath rarefied air as one of a very few companies ranked for five straight years, and that’s truly a testament to the dedication of our staff and the buy-in from our network of over 5,000 independent repair shop owners nationally.”
This year, BOLT ON launched its NextGear line, which offers many of the company’s core capabilities on any Web-enabled device, and without the need for integration with other shop management software.
To qualify for the 2020 Inc. 5000, companies must be privately owned, established in the first quarter of 2016 or earlier, have at least $100,000 in revenue in 2016, and have generated at least $2 million in revenue in 2019.
Besides the 2020 Inc. 5000 listing, BOLT ON TECHNOLOGY has previously won several awards recognizing its disruption of the traditional auto repair industry. Most recently, it won the PTEN Innovation Award, given by the industry trade magazine PTEN, for its Text To Pay feature.
For more information about the Inc. 5000 List, visit inc.com/inc5000.
