HighByte, a software and information technology firm in Portland, has notched another accolade, ranking third in the Boston Globe and Statista’s second annual list of the top 50 growing companies in New England.

One of five in Maine to make the cut, HighByte was joined by RxAnte, a health care and life sciences company ranked 14th; Broadreach Public Relations in 22nd; Northcross Group in 29th and manufacturer STARC in 31st.

The ratings are based on a company’s compounded rate of revenue growth between 2021 and 2024. According to the Boston Globe, companies had to generate a minimum of $100,000 in revenue in 2021 and $1.5 million in 2024 and be willing to share that data publicly — something private companies rarely do.

HighByte has experienced growth of over 1,300% in the three-year period. A company that started out in 2018 with three employees — Chief Executive Officer Tony Paine, Chief Product Officer John Harrington and Chief Communications Officer Torey Penrod-Cambra — now has 43.

“We’re typically used by really large manufacturers that have really complex facilities and many, many sites,” Penrod-Cambra said. “Complicated data environments where you have all this data coming from machines and systems and old legacy equipment.”

HighByte’s Intelligence Hub software collects that data and adds context to it, so it can be used to analyze how one plant is performing compared to another, or to predict when machinery in a plant is going to fail.

The company’s software is in use in 24 countries with multinational corporations like FedEx, ConocoPhillips and Georgia Pacific, and regionally with utility National Grid.

The three executives at HighByte have been together for a long time. Paine was the former CEO at Kepware, an industrial connectivity company in Portland. Harrington and Penrod-Cambra were part of the core leadership team and stayed with the company through its acquisition in 2016.

Penrod-Cambra says the trio “know industrial data well” and saw the demand for analytics growing. “There was just a big opportunity to make industrial data more useful, and that has an impact on our entire world … if manufacturing can run more sustainably, produce less waste, less scrap,” she said.

Product innovation is key to the company’s future, Penrod-Cambra said, with another product release coming next week. Growth is also coming from HighByte’s strategic partnerships with companies like Amazon Web Services and Microsoft.

HighByte is not a “growth at all costs” company, Penrod-Cambra said, insisting it is more focused on its people. “(We) try to be really strategic with how we hire and the pace at which we hire, because our goal is to retain 100% of our employees.” The company has never had a layoff, she said.

Roughly two-thirds of HighByte’s employees are in Maine, the rest are scattered in New England.

HighByte’s other recognition includes a spot on the 2025 Inc. 5000 America’s Fastest Growing Private Companies, 2022 DataOps Company of the year and 2025 Best Places to Work In Maine.