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Wovenware Named to Inc. Magazine's Inc. 5000 Annual Ranking of Fastest Growing Private U.S. Companies for the Fourth Time

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SAN JUAN, Puerto Rico, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Wovenware, a U.S. nearshore provider of Artificial Intelligence (AI)-based services and solutions, today announced that for the fourth time it has been named to the Inc. 5000, the annual list of America's fastest-growing private companies, published by Inc. Magazine.

"We're quite honored to once again be included among the Inc. 5000 and be recognized for our success bringing AI solutions to an ever-growing base of clients," said Christian Gonzalez, CEO and co-founder, Wovenware. "We're committed to continuing to build on this achievement and push the envelope in the development and delivery of innovative deep learning, machine learning, predictive analytics and chatbot applications that are improving the way people work and live."

Receiving a ranking of 2141 among 5000 private companies, Wovenware was judged based on Inc. Magazine's criteria for percentage revenue growth when comparing 2014 to 2017. During that timeframe, the company grew by 207 percent. Wovenware's growth during this time period is attributed in part to the continued development and maintenance of digital transformation projects for core long-standing clients, as well as the addition of new customers in industries such as healthcare, government and financial services, leveraging Wovenware's expertise in AI-based technologies.

"For companies on the Inc. 5000, it's unparalleled recognition of years of hard work and sacrifice," said Inc. editor-in-chief James Ledbetter. "The lines of business may come and go, or come and stay. What doesn't change is the way entrepreneurs create and accelerate the forces that shape our lives."

Wovenware has also significantly grown its business because of its nearshore delivery model.  Nearshoring to Puerto Rico is attractive to U.S. businesses looking to outsource software engineering and artificial intelligence project because of its proximity, similar time zones, adherence to the same currency and regulations, and costs far below those of nearshore providers in mainland U.S. states.

About the Inc. 5000

The 2018 Inc. 5000 is ranked according to percentage revenue growth when comparing 2014 and 2017. To qualify, companies must have been founded and generating revenue by March 31, 2014. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2017. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2014 is $100,000; the minimum for 2017 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.

About Wovenware:

Wovenware delivers customized smart applications 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 understand the unique business needs of customers to leverage complex technologies, such as AI, chatbots and cloud-based solutions, and it works closely with them to develop and manage solutions that align with their business goals. Headquartered in Puerto Rico, Wovenware works with customers across 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+.

For more information, contact:

Linda Pendergast, Pendergast Consulting
lpendergastsavage[at]comcast.net
508-224-7905

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