Chattanooga-based, rapidly growing cloud software company Skuid recently announced the formation of a new subsidiary in Switzerland called Skuid CH AG.
The move represents the second international expansion this year.
Charlie Brock, CEO of Launch Tennessee, a public-private partnership whose leaders focus on supporting the development of high-growth companies in the state, said that it is great to see a Chattanooga startup scale their operations both nationally and internationally.
“They are another wonderful example of the Chattanooga tech entrepreneurial scene that has become so robust over the past several years,” said Brock, who used to be executive entrepreneur of local incubator The Company Lab. “They are having a major impact here, and their success will help lure even more talented individuals to the Southeast Tennessee region.”
In conjunction with the new Swiss entity, Skuid opened a Zurich office that’s staffed with seven new employees.
The company has several major customers in the region, including agricultural equipment manufacturer AGCO. And the new office will provide manpower to deliver technical support services across Europe and the United Kingdom, according to a news release.
In the past 12 months, Skuid has created more than 50 professional jobs. The company has plans to add 50 more high-tech jobs in the coming months, according to a news release.
In addition to its Chattanooga headquarters, Skuid operates offices in San Francisco and London, and has remote employees in seven states. The Zurich office will bring Skuid another step closer to worldwide support coverage for its global customers, according to a news release.
Skuid’s growth has had a significant economic impact in the Chattanooga area, officials also said in a news release.
Skuid leaders expect to have a workforce of more than 120 by the end of 2016, with additional expansion in 2017.
Leaders have already started talking about opening another overseas office to meet demand in the Asia-Pacific region.
Some notable data points from the company’s leaders include:
-Skuid has directly pumped nearly $4 million into the local Chattanooga economy in the past 12 months in the form of salaries, equipment purchases, leases, etc.
-Considering the company’s continued triple-digit sales growth and its new lease of three floors in Liberty Tower, Skuid leaders estimate the company will inject another $6 million into the Chattanooga economy in the upcoming year.
-Seventy percent of new Skuid hires this year are based in its Chattanooga office.
-Twenty-five percent of new employees have moved to the Chattanooga area to work at Skuid.
-Collectively, Skuid employees will spend more than $70,000 on food and beverages at local establishments this year.
-Visitors to Skuid, including customers and employees, are estimated to spend over 264 nights in downtown hotel rooms.
-Skuid employees will consume an estimated 10,368 cups of coffee this year from local vendors.