Williamsville, NY – April 1, 2025 – Inc., the leading media brand and playbook for entrepreneurs and business leaders, has announced that Penstock has secured the No. 1 spot on its fifth annual Inc. Regionals: Northeast list–the most prestigious ranking of the fastest-growing private companies in the Northeast, which includes Pennsylvania, New York, Vermont, New Hampshire, Maine, Massachusetts, Connecticut, Rhode Island, and New Jersey. An extension of the national Inc. 5000 list, the Regionals offer a unique look at the most successful companies within the Northeast economy’s most dynamic segment–its independent small businesses.
“Our growth is a direct reflection of our incredible team’s dedication to fixing what’s broken in healthcare. Every member of our team is committed to driving innovation that makes healthcare more efficient and affordable. This achievement also speaks to the forward-thinking clients who recognize that change is necessary — and have trusted Penstock to be part of that change. We’re honored to be recognized by Inc. and proud to be contributing to a better healthcare system.” Said Steve Palma, president and general manager of Penstock.
The companies on this list show a remarkable rate of growth across all industries in the Northeast. Between 2021 and 2023, these 154 private companies had a median growth rate of 100 percent; by 2023, they’d also added 9,114 jobs and $6.7 billion to the region’s economy.
“The honorees on this year’s Inc. Regionals list are true trailblazers driving economic growth in their respective regions, industries, and beyond. This list celebrates their achievements and tells the stories of remarkable companies that are fueling growth and adding jobs in local economies throughout the country,” said Bonny Ghosh, editorial director at Inc.
Media Contact:
- Liz Chasse
- Chief Marketing Officer
- 860-254-6668 / lchasse@goodrootinc.com
About Penstock
Penstock is a service partner and SaaS builder for forward-thinking health plans, empowering claim overpayment recovery auditing and regulatory filing teams to get accuracy right from the start—when it matters most. Our technology and services remove inefficiencies, costly errors and wasteful spending, ultimately lowering healthcare costs for payer organizations and their members. penstockgroup.com
Methodology
The 2025 Inc. Regionals are ranked according to percentage revenue growth over two years. To qualify, companies must have been founded and generating revenue by March 31, 2021. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, a number of companies on the list may have gone public or been acquired.) The minimum revenue required for 2021 is $100,000; the minimum for 2023 is $1 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
About Inc.
Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of its community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating the future of business. Inc. is published by Mansueto Ventures LLC, along with fellow leading business publication Fast Company. For more information, visit www.inc.com.
