MSE Alumnus’ Company, Nearshore Technology, one of Inc. Magazine’s Fastest-Growing Companies
Nearshore Technology was recently named one of Inc. Magazine’s Fastest-Growing Companies based on its growth rate of 651 percent. The IT system development firm claimed the 770th spot on the list of 5,000 companies, pegging it as an organization that contributes to economic growth by innovating new technologies, creating jobs, and generating revenue. Nearshore Technology also claimed the 17th spot in the IT Systems Development category.
Nearshore’s board of directors includes Yancy Riddle, director and chief operations officer for the Latin American sector of the company, and Georgia Tech alum – he got both his master’s and Ph.D. in Materials Science and Engineering at Tech.
“We’re very happy about our company’s accomplishments and the Inc. Magazine recognition, but mainly for our employees,” said Riddle. “I’m proud of our entire team’s ability to maintain such high quality and service levels while simultaneously contributing to sustained and rapid growth. It’s a remarkable and uncommon achievement to successfully balance all three.”
Nearshore Technology, which is entering its fifth year of operation, specializes in the design and testing of software and hardware. They take a special approach, one that gives them their name: they use a blend of talent in Mexico and the United States, rather than going to a far-away country. This choice allows Nearshore to help their clients through greater ease and efficiency, as well as taking advantage of the IT industry in Latin America.
Yancy helped build the company from its inception using his experience in meeting regulated industries’ requirements and creating the infrastructure of a company. When the company started up, he went to spend a summer in Mexico to evaluate operational needs and decide how to convert the company’s strategic plan into reality. Instead of just a summer, he and his family stayed in Mexico for three years.
Yancy attributes the company’s success and recent accolades to the types of people and clients they attract. He says they have created a kinetic chain between the executives, managers, employees and clients that works effectively and optimally.
Nearshore’s team knew from the inception that they would have to contend with one major hurdle. With complicated political climates and differing views on the relationship between the United States and Mexico, it can often be a challenge for US clients to understand the real Mexico when compared to what they hear in the media.
“The perception of Mexico to US clients has always been our biggest hurdle,” he said. “But I can tell you this: 100 percent of the time, when people come visit us in Mexico, their perceptions are absolutely 180 degrees different when they leave, and they love it. It’s to the point now where a lot of our clients, when they really want to get their own work done, they come down to Nearshore in Mexico because we have customized labs, a very welcoming culture, and a relentless focus on alignment, communication, quality and delivery. Everything we do and where we do it is first class.”
Yancy says his time at Tech equipped him with the tools needed to overcome challenges throughout his career. He chose Tech because it was industry and entrepreneurship focused. It helped him get a diverse education that taught him how to build and run a healthy company, not just how to approach complicated technical and scientific issues.
The company still has quite a way to go to reach its first big goals. Nearshore currently has more than 250 employees but is projecting to grow to 1,500 employees across the US, Mexico and other Latin American countries.
Yancy’s plan is to keep doing what works: look for talent even where you might not expect it and keep depending on the people that enable the company to flourish.