A number of Valley-based privately owned companies saw tremendous growth in the past three years. Take Liberty Co. Insurance Brokers. The Woodland Hills-based insurance broker saw a 320% growth in revenue, making it the No. 1 firm on the Business Journal’s List of Fastest Growing Companies (see page 14 for details).
Other companies that experienced high revenue growth in the last three years include Encino-based PaymentCloud, which saw a 201% rise in revenue, putting it at the No. 2 spot on the List.
Rounding out the top five were Burbank-based media technology company Blu Digital Group, which saw a 187% growth in revenue; North Hollywood-based marketing agency Hennessey Digital, which recorded a 139% uptick in revenue; and Valencia-based manufacturer Valencia Pipe Co. Inc., which enjoyed a 122% growth in revenue.
But despite such growth, the period was not devoid of problems. This report looks at some of the difficulties affecting companies, including hiring, dealing with a remote workforce and supply chain shortages.