The Women Presidents' Organization has released its 7th Annual list of the 50 Fastest-Growing Women-Owned/led companies around the globe. The 50 Fastest generated $4.9 billion in combined 2013 revenues and collectively employed 22,000 people. Compared with last year's list, the total combined revenue of the 2014 winning companies grew by a dramatic 53%.

Thirty-One Gifts, a direct seller of exclusive, stylish and functional purses, totes, fashion accessories and organizing solutions, is the fastest-growing woman-led/owned company. Cindy Monroe, founder and chief executive officer who started the company in her basement in 2003, saw her company's revenues grow exponentially in four years -- from $38 million in 2009 to $760 million in 2013.

"The companies that made it onto our list this year reflect the continued resourcefulness of women-led businesses," saidMarsha Firestone, Ph.D., president and founder of WPO. "We saw production soaring, with an average revenue growth of 203% from 2009 to 2013. Not only is the financial growth of these companies impressive, it shows that women entrepreneurs are making inroads in non-traditional businesses, such as information technology and transportation. The growth of these women-led companies is particularly impressive as the world economic recovery struggles to gain traction. Privately held U.S. companies on average ended 2013 with annual sales growth of 5.4%, the slowest rate of sales growth since 2009," Dr. Firestone added.

Strategic Communications, a Louisville-based provider of technology services run by Kathy Mills ranked second this year, nearly doubling the company's revenues, from $45.4 million in 2011 to $97.3 million in 2013. WDS, Inc., an international warehousing, distribution and inventory management company, rounds out the top three. Jennifer Maier, chief executive officer and president, grew the company's revenue from $13.2 million to $155.8 million in the past four years.

For the first time since its inception, the 2014 50 Fastest was opened to applicants on a global level, resulting in two international businesses in the top ten. Participating companies were ranked according to a sales growth formula that combines percentage and absolute growth. To be qualified for the ranking, businesses are required to be privately held, woman-owned/led companies with annual revenue of at least $500,000 by year end 2008. 

More about the 2014 WPO 50 Fastest:

• Average revenue grew from $32.6 million in 2009 to $98.8 million in 2013
• Founded the business: 90%
• Average age: 48
• Average number of projected 2014 employees: 657

All 50 companies will be honored at a special event during the 2014 WPO Annual Conference in New Orleans, LA onThursday, April 24, 2014. The awards reception will take place from 5:30 – 8:00 PM at the Sheraton Hotel New Orleans.

The WPO's 2014 50 Fastest-Growing Women-Owned/Led Companies are: