PRESS RELEASE

FOR IMMEDIATE RELEASE

INNOVATE SPRINGFIELD MEMBER BITSIO INC., NAMED NO. 498 ON INC 5000 LIST OF AMERICA’S FASTEST-GROWING PRIVATE COMPANIES

Supporting the economic development of our region, Innovate Springfield serves as a catalyst for entrepreneurial activity within our community.

(Springfield, IL) September 8, 2020 — Innovate Springfield member bitsIO Inc., has been named No. 498 on the Inc 5000 list of America’s fastest-growing private companies. The Inc. 5000 list represents the most successful independent small businesses in the US, and serves as the most prestigious ranking of the nation’s fastest-growing private companies. bitsIO made the exclusive top 500 of the Inc. 5000 because of the staggering growth they’ve experienced in their industry. From 2016 to 2019, bitsIO’s revenue grew 935%.

bitsIO Inc. is a technology company and elite Splunk Partner for machine data analytics and cybersecurity with global operations in the US, the UK, Costa Rica, India, and is headquartered at Innovate Springfield | UIS in downtown Springfield, IL and was founded in 2001. Its highly effective but cost-efficient solutions have made bitsIO a household name in the data analytics and cybersecurity industries.

“bitsIO is honored to be recognized among Inc Magazine’s prestigious list of fastest-growing companies,” said bitsIO’s CEO Kalpana Krishnamurthi. “It’s our team’s dedication that [has] contributed to our success. Together we adapt, evolve, and keep moving forward towards our goals. This announcement also emphasizes the fact that we provide best-in-class Splunk Solutions to customers to improve client productivity and data security.”

Innovate Springfield is incredibly proud to serve bitsIO Inc., and to share in this success. The bitsIO team are highly engaged members of the iSPI || UIS community and have contributed great value to our network. In 2019 bitsIO Inc. facilitated an Analytics Certification to 21 UIS students, preparing them to test and receive certifications in the data analytics tool, Splunk. bitsIO also employs UIS graduate Aminata Bah as their Human Resources Office Administrator. Join us in congratulating bitsIO Inc., on this prestigious designation, and in thanking them for their contributions to our community.

More about Innovate Springfield

Innovate Springfield currently supports the development of 84 member companies through physical space, professional development programming, a community of like-minded starters, and access to a statewide network of expert advisors.

More about the Inc. 5000 Methodology

The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/inc5000.