A Meridian-based technology company grew by about 35 percent in its sixth year of operation and is now selling its own software products.
In Time Tec was founded by former members of HP in 2009. In Time Tec CEO Jeet Kumar had been working for HP for a decade and was living in India when he met In Time Tec President Dan Puga at a company meeting in Kentucky.
Puga had worked at HP for 20 years when he met Kumar and the two decided to start a software company.
Starting the company was Puga’s chance to break away from a path he had been on out of necessity.
“I got married at 18. I graduated high school in June, married in June, started college in August and had a kid in November,” Puga said. “Those of you who understand math see how that works. I got through college in four years and got an internship at HP and life for me was all about survival, but I knew I had more to give.”
Kumar saw the creation of his own company as a chance to help his vision.
“I did all my schooling over there and I saw so much scarcity. There were 1.2 billion people fighting for scarce resources,” Kumar said. “When I came over here in 1999 to work for HP I saw there were so many opportunities, but so few were taking advantage of them. I thought I could help bridge that gap.”
Puga and Kumar originally planned to develop and sell software, but while working at home neither could afford large research and development projects and they didn’t want to borrow money.
They came up with a plan that to fund the company while also helping Kumar’s prior home — they would hire software developers from India to work offshore while Kumar and Puga lived in Boise and found businesses looking for software developers.
“There are two big barriers to technology companies – access to capital and access to talent,” Kumar said. “That is an area we have some strength in and we want to help the companies that either can’t afford software developers or can’t find one.”
Idaho ranks 2nd nationally in tech sector employment growth, according to a report by the Computing Technology Industry Association. Idaho grew by about 2,400 software developers between 2014 and 2015.
“Everything needs software today in the internet of things,” Puga said. “When you turn up your thermostat you no longer turn a mechanical wheel; it is all done digitally because of an embedded system. Everything has software now.”
Idaho has a large talent gap in the computer science field. Hati Partovi, co-founder of the educational non-profit code.org, estimates that there are 1,238 open computer science positions in the state. Idaho universities only graduate about 300 computer scientists.
The demand rate for computer science jobs in Idaho is two and a half times larger than the national average, according to code.org.
“That gap is only going to get wider,” Kumar said.
Kumar and Puga decided to focus on this gap until they could earn enough money to develop their own products. The two worked with three other founders to open two centers in India. In Time Tec has 130 software developers in its center in Jaipur, which opened in 2009, and 70 software developers at its center in Bangalore, which opened in 2013. The company works with about 20 clients from the United States to help develop software services and 15 of those companies are from the Treasure Valley.
In Time Tec also has an office in Meridian where Kumar and Puga work with 12 employees that focus primarily on project management. They meet with the company’s clients to help develop software development goals.
“The service we provide depends on individual companies and what they can afford,” Puga said. “Some companies have a strong idea of what they want done and just need the resources, but others need more help on the project management side. What we often find is companies are happy switching to our offshore services after about 90 days.”
In Time Tec’s annual revenue is $8 million dollars. The company increased its revenue by about 35 percent in 2015 and it is expecting similar growth in 2016.
In Time Tec’s success has allowed it to do what Kumar and Puga originally desired. In November, it launched its first product in India, customer relationship management software that allows businesses to track content, opportunities, costs and sales across multiple devices in order to make work easier from a mobile device. The software has about 40 paying customers.
In Time Tec has another product called Cartos that will launch worldwide in the fall. It is an asset mapping software that allows large companies to manage and plan their printing fleets.
About 95 percent of In Time Tec’s revenue still comes from its software development services, and those services will continue to be the company’s main focus.
“They focus on doing the uniform tasks that they can knock out quickly so that a company can spend its time focusing on the innovative things that will make it more unique,” said Jay Larsen, president of the Idaho Technology Council.