SAN JUAN, PUERTO RICO--(Marketwired - August 17, 2017) - Wovenware, a nearshore provider of smart software solutions, today announced that for a third year it has been named to the Inc. 5000, the annual list of America's fastest-growing private companies, published by Inc. Magazine. It is among a select group of companies -- only one in five -- that have received this recognition three times.
"We're honored to once again be included in the Inc. 5000," said Christian Gonzalez, CEO and co-founder, Wovenware. "The growing demand for AI-based solutions for companies of all types and sizes, and the benefits of using nearshoring software engineering services to meet this demand, is a key driver behind our growth. We are helping U.S. companies develop some of the most advanced artificial intelligence (AI) solutions, such as chatbots, machine learning apps and image recognition, as well as legacy modernization projects, more quickly, strategically and cost effectively -- and much closer to home."
Receiving a ranking of 3566 among 5000 private companies, Wovenware was judged based on Inc. Magazine's criteria for percentage revenue growth when comparing 2013 to 2016. During that timeframe, the company grew by 86 percent. Wovenware's growth during this time period is attributed in part to the addition of key customers in industries such as healthcare, government and financial services; as well as its specialized expertise in delivering services and solutions based on high-growth technologies, such as AI-based machine learning algorithms.
Additionally, as a nearshore software engineering services provider in Puerto Rico, Wovenware offers key benefits to U.S. businesses including proximity, same language and time zones, as well as adherence to the same currency and regulations, at costs far below those of nearshore providers in the U.S. states.
About the Inc. 5000
"The Inc. 5000 is the most persuasive evidence I know that the American Dream is still alive," said Inc. President and Editor-In-Chief Eric Schurenberg. "The founders and CEOs of the Inc. 5000 tell us they think determination, risk taking, and vision were the keys to their success, and I believe them."
The 2017 Inc. 5000, unveiled online at Inc.com and with the top 500 companies featured in the September issue of Inc. (available on newsstands August 16) is the most competitive crop in the list's history. The average company on the list achieved a mind-boggling three-year average growth of 481%. The Inc. 5000's aggregate revenue is $206 billion, and the companies on the list collectively generated 619,500 jobs over the past three years. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.
The list represents a unique look at the most successful companies within the American economy's most dynamic segment -- its independent small and midsized businesses. Companies such as Microsoft, Dell, Domino's Pizza, Pandora, Timberland, LinkedIn, Yelp, Zillow, and many other well-known names gained their first national exposure as honorees of the Inc. 5000.
Wovenware delivers customized smart software solutions that create measurable value for customers. Through its nearshore capabilities, the company has become the partner of choice for organizations needing to re-engineer their systems and processes to increase profitability, realize efficiencies and seize new market opportunities. Wovenware's team of expert software engineers and data scientists specialize in building the full life-cycle of today's advanced AI and machine learning solutions, as well as other legacy modernization initiatives that strategically align with customers' unique business goals. Headquartered in Puerto Rico, Wovenware works with customers in North America and around the world. Visit us on the web at www.wovenware.com, or connect with us on Twitter, Facebook, LinkedIn, or Google+.