Virginia Beach company named to ‘Most Promising Companies’ list

Virginia Beach-based Valkyrie Enterprises has been named to Forbes’ list of “America’s Most Promising Companies.”

The company, which provides systems engineering and technical support for the U.S. Navy, was No. 65 and the only Virginia company on the list of 100 companies.

Valkyrie was founded in 2007 by CEO Gary M. Lisota, a former Navy lieutenant commander who spent 11 years serving on cruisers and destroyers.

The company has 200 employees and had revenue of $23 million last year.

Its projects include the ballistic missile defense shield and fleet modernization.

The top company on the list was IT Software & Services in Boca Raton, Fla. It sets up software systems for businesses to communicate en masse with customers through mobile phones. Customers include Walgreens, Best Buy and ESPN.

The company, formed in 2005, has 138 employees and annual revenue of $29 million.

To come up with the list, Forbes said it reviewed thousands of applications. The final assessment is based on growth (both in sales and hiring), quality of management team and investors, margins, market size and key partnerships. Forbes used CB Insights, a Manhattan-based data research firm that specializes in assessing private companies, to refine the search.