Uruguayan Nearsure to Boost Workforce, Eyes European Expansion in 2024

The IT services firm aims for a 50% staff increase and European market entry amidst rising demand from U.S. corporate clients.
Uruguayan Nearsure To Boost Workforce, Eyes European Expansion In 2024
Uruguayan Nearsure To Boost Workforce Eyes European Expansion In 2024

The company is on a hiring spree, planning to swell its ranks by 50% to reach 850 employees this year to meet the soaring demand from U.S. corporate clients.

CEO and co-founder Giuliana Corbo, in a recent interview, highlighted the company’s strategy to amplify its bilingual software engineering team as pivotal to boosting last year’s sales from $37.5 million to an anticipated $55 million in 2024.

“We’re banking on 80% of our growth from existing accounts and 20% from new accounts started this year,” Corbo stated, outlining the roadmap for a company that kicked off in 2018.

Uruguayan IT firms have capitalized on the country’s time zone alignment with the U.S. and its English-speaking talent pool to secure business with American enterprises. According to industry trade group Cuti, the U.S. accounted for about 87% of Uruguay’s tech exports, valued at $1.8 billion in 2022, a significant leap from 64% in 2018.

Nearsure, with 95% of its revenue generated from U.S. clients including fintech and healthcare companies, offers staff augmentation—a form of outsourcing—and project development services from over two dozen countries across Latin America and Europe. Corbo is setting sights on Europe for up to 5% of this year’s sales, as the company scouts for its first European accounts. “We expect this percentage to increase.

Diversification is always a good strategy,” Corbo remarked, indicating that after Europe, other markets might be next on the list.

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