Global IT company Devbridge plans to expand this year, maintaining rapid growth
U.S. headquartered software company Devbridge ended 2020 with sustained rapid growth. It expanded its teams in Lithuania, invested in employees and modern offices, pulled in new orders, and ranked among Inc. Magazine's 5,000 fastest-growing U.S. companies for the eighth consecutive year.
According to Viktoras Gurgždys, Devbridge Vice President and Head of the Lithuanian locations, the need for digitized solutions caused by the pandemic has naturally increased work volumes. Not only has the demand for services among existing customers grown, but new orders have also come in, resulting in a 30 percent increase in work over the past three years.
“For many years now, we have been working with the world’s largest companies in the manufacturing, financial, and service sectors in Western Europe and North America. And every year, we receive new orders that are larger and larger, which have been gaining recognition in the international arena. We had a bold start to 2020, having updated our sales strategy, set clear development criteria, and invested quite a bit in developing internal tools and process efficiency. So, we approached the pandemic with calm and strength,” emphasizes Mr. Gurgždys.
Building a spacious office in Vilnius
The head of the company underscores that both international projects and talented employees contribute to the continued rapid growth. An average of 100 new employees joins the company each year, with a total of 94 new colleagues joined the company’s Lithuanian branches in 2019 and 145 in 2020. The team's experienced professionals help attract new talent and drive its growth. Last year, the number of employees grew not only in Kaunas and Vilnius but also in the newly formed Klaipėda and Warsaw locations.
“During the lockdown, we increased the number of jobs in Lithuania, and, like every year, raised salaries by an average of 10 percent and distributed EUR 3.5 million in annual bonuses. We also hired new employees in Poland and opened its doors to Belarusian citizens suffering from repression. The company must remain stable while also maintaining the status as a fast-growing organization for professional people. More and more global companies are relying on the expertise of our programmers and entrusting them with the development of products of strategic importance. I have no doubt that this is also contributing to Lithuania’s reputation as a country of IT talent,” said the company’s vice president.
Since its establishment, the company has grown an average of 30 percent annually and plans on hiring 200-300 new employees in Vilnius alone over the next five years. In early 2020, the company's Chicago headquarters relocated to a newly built, spacious locale in the city center. Similarly, in 2022, the Vilnius branch will relocate to new, modern premises in the Naujasis Skansenas Ž business center, currently under construction.
Devbridge's Lithuanian presence has been growing steadily each year since being established in 2011. The company is bringing together and growing a professional community in Lithuania and contributing to the country’s information literacy through initiatives such as the Sourcery Academy. Over the past five years, the company has already invested a total of more than EUR 1.3 million in these initiatives.
Among the fastest-growing private companies in the U.S.
For the eighth consecutive year, the Lithuanian-founded IT company was featured on the Inc. 5000 list which recognizes America’s fastest-growing private companies. This year, Devbridge came in at 2,922. The Inc. 5000 list ranks winners according to percentage revenue growth and comparing the results of the last four years.
Devbridge was founded in 2008 by five friends from Lithuania, who set up their first office in a small basement in Bensenville, Illinois. The company’s core objective has not changed to this day: Develop state-of-the-art software and provide invaluable tools that help a wide range of business organizations and industries operate efficiently and successfully grow.
Devbridge is a global software company headquartered in Chicago. The core team includes experienced top-level programmers who develop sophisticated software solutions for the Western European and North American markets. The company’s international team consists of more than 500 employees at branches in Chicago, Toronto, London, Kaunas, Vilnius, Klaipėda, and Warsaw. The company’s customers include Fortune 1000 and global companies in the financial, services, and manufacturing sectors.