Cision PR Newswire
Business Advisory Firm Embark Announces Record $105.7 Million Revenue Year
News provided byEmbark
Jan 24, 2023, 9:00 AM ET
Embark achieved 121% growth, surpassing triple digits for the fifth time in the last six years while expanding into new markets and practice lines across America
DALLAS, Jan. 24, 2023 /PRNewswire/ -- Business advisory firm Embark is thrilled to announce $105.7 million in total revenue for 2022, a record figure that more than doubles 2021 revenue. At 121% growth, 2022 is also the fifth time in the last six years the firm has realized triple-digit revenue growth. Despite growing economic headwinds, Embark's consistent hyper-growth continues to broaden its footprint across the professional services industry.
Further highlighting its ongoing success, Embark also expanded into Nashville in 2022, making it the firm's eleventh office across eight different states. As one of the fastest-growing private companies in the U.S., Embark nearly doubled its headcount from 275 employees at year-end 2021 to 500, with a growth strategy in place to expand its footprint into at least two additional geographical markets in 2023. The firm also increased consultant compensation by 25-50% in 2022, ensuring it continues to attract and retain industry-best talent.
"Our success in 2022 is a reflection of how Embark can deliver extraordinary results across all of our practices, proving we can sustain excellence in any economic environment," said Paul Allen, Founder & Chief Vision Officer at Embark. "By focusing on dynamic and talented consultants that are committed to improving our clients' performance, our business model doesn't have a ceiling, and we look forward to making even more significant strides in 2023."
To support its growth strategy and well-documented commitment to best-in-class client service and hospitality, Embark significantly increased the number of senior Big 4 auditors and consultants to its practices, also adding several management consultants to its fast-growing Business Transformation practice. Likewise, 2022 saw the official launch of Embark's ESG & Sustainability practice, formalizing an existing service that has become a necessity for many of its clients given the rapid rise of ESG reporting requirements for public companies.
Embark's achievements correspond with its emphasis on culture and values. The firm's vision has always been to exceed expectations for both clients and employees. As a result, several organizations have recognized Embark for its exceptional culture at the national and local levels. In 2022 alone, Embark was awarded:
- Great Place to Work certification for the third year in a row
- Inc. 5000 fastest growing companies for the fifth year in a row
- Top 100 Places to Work by the Dallas Morning News, and the city's #1 Mid-Size Company and Best Managers list
- Fortune 50 Best Small & Medium Workplaces In Texas
- #34 in Fortune Best Workplaces in Financial Services & Insurance™ 2022 (Small And Medium)
- #18 in Fortune Best Workplaces in Texas™ 2022 (Small And Medium)
- SMU Dallas 100 Entrepreneur Awards (#31)
- Charlotte Business Journal Best Places To Work
- Phoenix Business Journal Best Places To Work
- Austin Market President Jessica Schuemann: 40 Under 40 (New Braunfels)
- CFO Brady Minyard: Best CFO Honoree (Austin Business Journal)
- Transaction Advisory Practice Leader Drew Solomon: D Magazine 2022 M&A Awards | Due Diligence Dealmaker
"Our culture saturates every facet of our company, and keeps us a visionary in the professional services industry. A genuine commitment to our people and absolute confidence in our approach, vision, and values let us scale the business without compromising our ability to successfully attract talent and emphasize the employee experience," said Allen. As testament to the firm's commitment to its people and vision, Embark moved into new headquarters in 2022, a historic, three-story building in the Deep Ellum district of Dallas, and will complete the build-out in the first half of 2023.
Embark is a new kind of business advisory firm, one intent on disrupting the professional services industry with a unique, innovative business model and mindset for the advisory space. Founded in 2010, the firm now services an ever-growing list of top-tier markets, including Dallas, Houston, Austin, Denver, Phoenix, Oklahoma City, Tulsa, Salt Lake City, Tampa Bay, Charlotte, and Nashville. Specifically, Embark helps organizations optimize finance, accounting, and technology with specialists from a spectrum of practice areas and industries. The firm has built an unprecedented company culture for elite consultants to transform the way businesses utilize people, processes, & technology. For more information, visit www.embarkwithus.com.
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