Scottsdale-based Lessen ranked No. 2 on Inc. 5000 list of fastest-growing private businesses

Aug 14, 2024, 4:35 AM | Updated: Nov 4, 2024, 2:18 pm

Exterior view of the. Lessen headquarters in Scottsdale. The real estate tech platform is ranked se...

Scottsdale-based real estate tech platform Lessen is ranked No. 2 on the 2024 Inc. 5000 ranking of the nation's fastest-growing private businesses. (Google Street View Photo)

(Google Street View Photo)

BY KEVIN STONE

KTAR.com

PHOENIX — Scottsdale-based real estate tech platform Lessen is ranked No. 2 on the 2024 Inc. 5000 list of the nation’s fastest-growing private businesses.

The software company’s revenues grew by a whopping 45,603% over the last three years, according to Inc. Magazine’s new list, which was published online Tuesday and is part of the September print issue.

The only company with more growth in that time was New Jersey-based Vytalize Health, which ballooned by a mind-blowing 90,779%.

Arizona had a total of 137 businesses on the 43rd edition of the Inc. 5000, which ranks U.S. companies by percentage revenue growth from 2020 through 2023.

While Lessen is ranked second on the Inc. 5000 for 2024, the following four Grand Canyon State businesses also cracked the top 100:

No. 33: EDM Lead Network (7,322%), a Gilbert marketing company.
No. 68: Fusion Power (4,251%), a Chandler energy firm.
No. 73: Earp Aviation Repairs (4,004%), a Chandler logistics and transportation business.
No. 97: SoDella Construction (3,326%), a Scottsdale builder.

Here’s why Lessen is ranked No. 2 on the Inc. 5000 list

Inc. Magazine published about two dozen stories on individual companies as part of Tuesday’s list release.

One of the stories focused on Lessen, which was founded in 2019 and is headquartered near Scottsdale and Chaparral roads.

CEO Jay McKee’s boldest move was the January 2023 purchase of SMS Assist, which Inc. called the largest property technology acquisition in history.

The $950 million merger took 13 months to complete and created a combined valuation of over $2 billion, according to the magazine.

Venture capitalist David Weiden, who backed the deal, had high praise for McKee.

“Jay has the seemingly limitless passion and clarity of objective that is typical with the most exceptional entrepreneurs,” Weiden told Inc. “Of the thousands of transactions I’ve seen, this is one of the most remarkable examples of what a determined and visionary entrepreneur can do.”