After a year in which it saw twice as much growth as it’s used to, a local IT consulting firm is making more elbow room locally while similarly expanding offices in other markets.
CapTech, a national IT management consultant firm based in Henrico County, has added 8,000 square feet of space to its headquarters at 7100 Forest Ave., bringing the local office to a total of nearly 30,000 square feet.
At the same time, the company recently relocated and expanded its 50-person Atlanta office to a permanent location after two years working out of a temporary space. And it is planning to relocate its Charlotte, North Carolina office to a new 12,000-square-foot location in January.
The moves follow higher-than-usual growth for the company, which typically sees an average of 15 percent annual growth and saw double that this year at 30 percent. Annual revenue for the year is anticipated to exceed 20 percent over 2016, when the company’s revenue totaled $123.55 million.
The bulk of this year’s growth has occurred in Richmond, bringing the local office to 350 employees. Companywide, CapTech created 250 new jobs this year, bringing its national staff count to 900.
CEO Kevin McQueen said the numbers represent a banner year for CapTech, which has offices in 11 markets after expanding to Denver earlier this year. The 20-year-old company designs and develops websites, apps and other digital platforms for a variety of clients, in addition to services such as strategy and marketing.
“2016 was a phenomenal year, and this one is probably even more phenomenal in terms of growth,” McQueen said last week. “Not only in our Richmond market, but now we have Atlanta, Columbus, Denver, Chicago, Charlotte and D.C. All of our offices have expanded nicely.”
McQueen said CapTech was drawn to Atlanta when several clients relocated their operations there and requested the company’s services. He said an existing Richmond client, which he declined to name, also has operations there.
“It’s a vibrant, growing market, so it was a logical extension,” McQueen said of Atlanta. “We were able to hire some key people there, relocated a number of people as well, and we built a great team. It’s probably the fastest that one of our newest offices has gotten out of the gate.”
McQueen said the Atlanta office is approaching 50 consultants and is aiming to add 100 more in 2018. The office is located at 600 Peachtree St. NE, Suite 400, in Atlanta’s tallest building in Midtown.
The Richmond office expansion was accomplished within the same building that CapTech occupies off Forest Avenue near the Interstate 64-Glenside Drive interchange.
“We expanded into some contiguous office space here to enable the internal departments to continue to scale as the company grows,” McQueen said, adding that the growth is allowing the company to expand its scope of services and explore new technologies such as artificial intelligence.
“We’re starting to do some natural language processing – things like (Amazon’s) Alexa,” McQueen said. “Every quarter we put a tech challenge out to our company, and teams organize and create these prototypes and concepts and we’re taking some of those learnings to clients.”
Founded in 1997, CapTech was acquired in 2015 by Markel Ventures, a subsidiary of Richmond insurance giant Markel Corp. Markel Ventures maintains a majority stake in the company, which has experienced considerable growth since, earning it a spot on the Inc. 5000 list of the fastest-growing U.S. companies multiple years, including 2017.