Tankfarm, a tech-enabled propane distribution platform, recently was named to the Inc. 5000 list of the fastest growing companies in America.
The Nashville, Tennessee-based firm ranked in the top 10% of the list at No. 488—and grew 1,199% over a three year period to reach that ranking, the company reported.
“We are so grateful to our customers, our investors, and our amazing team for enabling Tankfarm to achieve this milestone,” Andrew Heaney, Tankfarm founder and CEO, said in a news release. “It’s a privilege to be on a list with some of America’s most innovative companies and entrepreneurs. We will continue to maintain a laser focus on delighting and empowering our users which is our North Star.”
Tankfarm invests in software and sensors to make deliveries more efficient and profitable for suppliers and more convenient for consumers. The company aims to improve the propane industry’s approach to technology, so it can meet the expectations of today’s propane consumer. The $35 billion U.S. propane industry is highly fragmented and has been slow to embrace new technology, Tankfarm maintained.
“We’re extremely pleased with this accomplishment but remain unsatisfied with where we are and always want to be better,” Heaney added. “We believe technology is the way to solve a lot of the challenges facing our industry so we are building every day, creating a better experience for our users and in turn an increasingly durable source of competitive advantage.”