Nashville-based wholesale broadband carrier IRIS Networks (Booth 228) has been named a 2004 Music City Future 50 company by the Nashville Area Chamber of Commerce, and a Business Tennessee Fast50 company by Business Tennessee, a statewide business magazine.
The Music City Future 50 is an annual recognition program to celebrate the 50 fastest growing, privately owned companies in Middle Tennessee. The Fast50 is an inaugural event of Business Tennessee magazine that recognizes 50 companies with the highest revenue growth rates in Tennessee.
It is truly an honor to be part of these distinguished groups, says IRIS Acting Chief Manager Richard Ebner. We are proud of our accomplishments at IRIS Networks, and it is rewarding to have our hard work recognized.
Future 50 qualifying companies must be privately owned and headquartered in Middle Tennessee, have at least $500,000 in annual revenue or at least 10 employees, and have projected annual revenue and employment growth of 10 percent or more for the next three years.
Fast50 qualifying companies have been in business for at least three years, generate more than $750,000 of revenue, employ five or more people, are independent and privately owned, and are headquartered in Tennessee.
IRIS, a wholesale carriers carrier founded by 11 independent telephone companies with a combined market presence of more than 500 years, has experienced rapid growth. In 2003, IRIS completed a fully redundant DWDM ring between Chattanooga, Knoxville and Nashville, Tenn., and Huntsville, Ala. Implementation of its tandem switch was completed in 2004, with the tandem currently switching more than 44 million minutes per month of traffic from nine local telephone companies and 38 long-distance carriers. The IRIS tandem generated approximately $1.4 million in additional revenue in 2003 and is expected to generate in excess of $5 million during 2004, the company says. Meanwhile, the IRIS workforce has grown more than 357 percent since 2001.