Puerto Rican IT services company Invid has expanded to the United States, opening two delivery centers simultaneously in Arlington, Virginia and Miami, Florida.
The company will start by focusing on winning clients in the greater Washington, DC area, where it can leverage its status as an SBA 8(a) certified business. Entrepreneurs certified under the SBA program can bid for government contracts, gaining faster access to the economic mainstream.
Hailing from Puerto Rico, a US territory, Invid says it is now positioned to make the most of growing nearshoring opportunities and can deliver projects 30% cheaper than most US software developers.
The company became a major player in the Puerto Rican IT industry after successfully developing software solutions for Evertec and Firstbank, a Colorado-based and privately held bank and financial services company.
In March last year, Invid was granted a US$350,000 line of credit and a US$27,000 loan from the Puerto Rico Economic Development Bank to expand operations beyond the Caribbean coast. The company also has operations in the Dominican Republic, although staff volumes and annual revenue are not clear.
“We are very thirsty to use our passion for innovation to help organizations use technology to simplify their business processes,” says Alberto Lugo, CEO of the company.
Invid — which provides services including IT consultancy, programming, mobile app development, and corporate portals – believes that a presence in the US mainland will give it a shot in the arm, given that it is also specialized in deploying Microsoft SharePoint and Azure.