San Juan-based Wovenware, a provider of smart software solutions, 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, the company said.
“We’re honored to once again be included in the Inc. 5000,” said Christian González, CEO of 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’re 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,” he said.
Receiving a ranking of 3,566 among 5,000 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.