Investment to Expand Software Business Across the U.S. and Canada
SAN JUAN, PUERTO RICO and AUSTIN, TEXAS – November 29, 2018 –Rock Solid Technologies (Rock Solid), a leading software and IT services company in Puerto Rico and the Caribbean, today announced a majority growth investment from Strattam Capital. The investment will enable Rock Solid to accelerate growth in the North American market for their civic engagement platform, RESPOND©.
"Over the past few years, and more significantly in the past four months, Rock Solid has been growing outside Puerto Rico. Just a few weeks ago, we announced wins in key cities in Canada and the United States. With the support of Strattam Capital, we are confident that in the next few years Rock Solid, which has been developing software solutions in Puerto Rico for the past 15 years, will become a top player in the global market" said Richard C. Brown, Rock Solid’s president.
RESPOND© is a civic engagement platform that provides a centralized database which facilitates the connection of citizens with government. Serving over 7 million citizens, this web-based solution is configured according to the requirements of local governments and takes advantage of predefined and configurable workflows that have been with input from years of partnerships with government agencies, countries, municipalities, and public corporations in the Caribbean, Latin America, Canada, and the United States.
Additionally, this new partnership with Strattam Capital will allow Rock Solid to create 100 new jobs in Puerto Rico over the next five years, mostly in software engineering and information systems consulting. With offices in both San Juan and Austin, Texas, Rock Solid has 134 employees and has been ranked as one of the leading Information Technology companies in the Caribbean. The announcement was made today at Rock Solid headquarters in the Economic Development Bank building,in the presence of Governor Ricardo Roselló Nevares and Kyle Reesing from Strattam Capital. Rock Solid senior executives in attendance included President Richard Brown and Vice-president Ángel L. Pérez.
“Through their deep domain expertise, Rock Solid software solutions enable government agencies to better serve their citizens,” said Strattam Capital Managing Partner Bob Morse. “We are impressed with the leading engineering capabilities they have created and are excited to be investing with the Rock Solid leadership team to help bring Rock Solid software products to a wider audience across the U.S. and Canada.”
Ángel L. Pérez, Rock Solid’s Vice President, stressed that this new capital injection will allow them to continue to promote products developed in Puerto Rico; products that are winners of global awards based on Microsoft Dynamics 2018. “We have demonstrated that our local talent can compete globally, attracting capital to fund our growth which is crucial to our expansion strategy” said Ángel L. Pérez.
"This company, highlighted by the development of high quality software solutions for clients from the public and private sectors, is undoubtedly an example of how a Puerto Rican company can evolve and reach new markets in the United States, Central America and Canada. Its continued success should serve as an example for new companies that seek to maximize their services" said Governor Ricardo Roselló Nevares.
This transaction was facilitated by IT ExchangeNet, a leading Microsoft channel mergers and acquisitions firm.