Strattam Capital has made an investment in Puerto Rico and Texas-based Rock Solid Technologies, a software and IT services company. No financial terms were disclosed.
SAN JUAN, Puerto Rico and AUSTIN, Texas, Nov. 29, 2018 /PRNewswire/ — 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, the web-based solution is configured according to the requirements of local governments and takes advantages of predefined and configurable workflows that have been built through the years in partnership with government agencies, countries, municipalities, and public corporations in the Caribbean, Latin America, Canada, and the United States.
Additionally, the partnership 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 included President Richard Brown and Vice-president Ángel L. Pérez.
“Through their deep domain expertise, Rock Solid software enables government agencies to better serve their citizens,” said Strattam Capital Managing Partner Bob Morse. “We are impressed with the leading engineering capabilities they have built and are excited to be investing with the Rock Solid leadership team to help bring these 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, which are winners of global awards and based on Microsoft Dynamics 2018. “We have demonstrated that our local talent can compete globally, attracting capital to fund our growth 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.
About Rock Solid Technologies, Inc.
Founded in 1997, with offices in San Juan, Puerto Rico and Austin, Texas, Rock Solid Technologies is a software and IT services company recognized as one of the top software engineering companies in Puerto Rico, the United States and Latin America.
Rock Solid was recently selected to provide Respond©, a citizen services software (311), for the cities of New Orleans, LA and Winston-Salem, NC. New Orleans joins the list of cities where Rock Solid Technologies has a presence. In addition, the city of Burlington in Ontario, Canada and more than thirty-five municipalities in Puerto Rico use the RESPOND© tool as their platform to offer residents the ability to report issues and open requests for citizen services. Rock Solid has managed to position RESPOND© as the official citizen service system for the Panamá 311 National Call Center and the Puerto Rico 311.
The company is a Microsoft Gold Partner. For more information, visit: www.rocksolid.com.
About Strattam Capital
Strattam Capital is a private equity firm with an innovative and focused approach to scaling established business IT companies. Our team’s alignment and engagement practices are designed to deliver a better future for our companies. Strattam has offices in Austin and San Francisco. To learn more visit www.strattam.com.