The largest women-owned businesses in Orange County are back to growing.
The 37 locally based companies on this year’s Business Journal list reported total revenue of $4.8 billion, up 12% from a year ago. On last year’s list, their sales fell 4.5%, the first such decline in a decade.
The growth was widespread with only seven companies seeing year-over-year decreases.
They employ 6,554 in Orange County, up 3.4%, while companywide, they have 52,362 employees, up 3.7%.
Accounting for most of that growth is Tustin-based mortgage lender New American Funding, No. 2 on the list, which increased revenue by 51% to $698.2 million.
The company is on the rebound from when revenue fell by more than half due to high benchmark interest rates causing a drop in mortgages and refinancings.
Since then, the Federal Reserve lowered rates for the first time in more than four years last September.
New American said it’s seeing a growing trend of all-cash offers for new homes with 15% of homes in Orange County purchased with all cash in 2024, according to company President Christy Bunce.
New American recently expanded its services to New York and Hawaii, now serving all 50 states in the U.S. The expansion makes it one of the largest independent mortgage lenders in the country, according to the company. It was founded in 2003 by Patty and Rick Arvielo; Patty won the Business Journal’s Women of the Year Award in 2018.
In-N-Out Retains Top Spot, To Leave Irvine in 2029
In-N-Out Burger retained its top spot with $2.4 billion in sales, a 12% increase.
The iconic fast-food burger chain in February announced plans to leave its Irvine headquarters and move to its original home base in Baldwin Park by 2029.
The company has deep roots in Baldwin Park with the first location having opened there in 1948.
“Our West Coast family will be together in one place, where In-N-Out Burger began,” owner and President Lynsi Snyder said in a statement.
Behind New American, the second largest increase on the list came from Cynergy Professional Systems LLC in Laguna Hills. The IT services and consulting firm reported a 33% jump to $151.3 million in revenue.
Another notable grower was Cypress-based Pacific Pioneer Insurance Group (PPIG), moving three spots up to No. 10. The company, which was founded by Lin W. Lan, attributed its 33% increase to several insurance carriers exiting the local marketplace due to being unable to obtain rate increases from the California Department of Insurance.
“The reduction in carriers in California drove the business to PPIG and we were there for our brokers and insureds,” a spokesperson for Pacific Pioneer told the Business Journal.
Incorporating AI into Hiring
Irvine Technology Corp., which is 100% owned by Nicole McMackin, says it’s staying competitive by innovating. The Santa Ana-based staffing services company developed an artificial intelligence recruiter to help screen candidates virtually.
“We’ve been able to consider a broader pool of qualified candidates, ensuring that no great talent is overlooked, even when we’re managing dozens of roles,” a spokesperson for Irvine Technology told the Business Journal.
The company grew revenue by 28% to $25 million; it now ranks No. 23 on the list, up from No. 29 a year ago.
Irvine Technology said that the appointment of Craig Kapper as executive vice president of the sales division has resulted in a 90% fill rate and “faster delivery of high-quality, vetted talent.”
This year, there was one less company on the list.
Westminster-based Elmore Toyota dropped off the list due to President Judith Elmore selling the location to Pat Lustig’s Automotive in 2023.
Research Director Desmond Celo contributed to this report.
