CEDAR FALLS -- Three Cedar Falls companies cracked a list of top growing companies in the U.S.

New York-based Inc. Magazine publishes an annual list of the top 500 growing fastest-growing private companies in the country.

TEAM Technologies ranked No. 212 on the list. The Cedar Falls-based IT business has increased revenue from $323,670 in 2004 to $4.2 million in 2007.

The ranking not only reflects on the company, but also the Cedar Valley, said Kate Miller, the company's director of business development.

TEAM Technologies provides data storage for Fortune 500 companies and governmental agencies.

The business has grown from three employees and about $323,000 in revenue in 2004 to about 25 employees and $4.2 million in revenue.

Miller said that growth reflects a growing need in the digital age.

"These services are needed with natural disasters and other types of threats," she said. "A business like ours is going to grow and grow."

TEAM was the second highest Iowa business on the Inc. 500 and ranked 21st among the top 100 growing IT services companies.

In 2007, Inc. Magazine expanded the 500 list to include the top growing 5,000 businesses.

Two other Cedar Falls companies, Next Generation Wireless and Phantom EFX, made it into that tier.

"It's quite an honor for us, obviously," said Next Generation CEO Bill Bradford.

The cellphone retail company was listed at No. 3,331 on the list.

Bradford started business with one partner and six sales associates in 2001 after working at U.S. Cellular.

Today the company has 75 employees and stores in Iowa, Missouri and Illinois. Company revenue more than doubled from $7 million in 2004 to $14.1 million in 2007.

Video game developer and publisher Phantom EFX was listed at No. 3,807 on the Inc. 5,000.

Video game enthusiasts Aaron Schurman and Danny Stokes founded the business in 1998 and produced their first game in 2001.

The business has since teamed with Darin Beck and has become one of the top casino and card game creators.

Rene Tietz, marketer for Phantom EFX, said the ranking gives the company a publicity boost.

"A lot of people don't know we're here or what we do," she said. "It pretty much proves anything can be done anywhere."

The company was flooded out of its home at 209 Roosevelt St. in June.

Officials broke ground for a new headquarters on Technology Parkway last week.

Overall, 24 Iowa business made the list.

Bob Justis, president of the Greater Cedar Valley Chamber of Commerce, said having three from the Cedar Valley reflects a strong business climate.

"The secret's out about doing business in Cedar Valley," he said. "People realize it's a thriving area in the state."

Contact John Molseed at

(319) 291-1418 or

john.molseed@wcfcourier.com.