CyraCom International, Inc., Tucson, AZ
Company: CyraCom International, Inc., Tucson, AZ
Company Description: CyraCom International, Inc. is the largest provider of Over-the-Phone Interpretation (OPI) operating solely in the US. OPI is a three-way call between an interpreter, an English- speaking representative, and a non- English speaking customer. CyraCom provides 200 languages and has more than 3000 clients, including some of the largest healthcare, insurance and financial companies in the US.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Fastest-Growing Company of the Year - Up to 2,500 Employees
Nomination Title: CyraCom International, Inc.
Tell the story about what this nominated organization achieved since January 1 2013 (up to 525 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes. Begin this section with the following two lines: Year over year revenue growth (%): Year over year employee growth (%):
Year over year revenue growth (%): 29%
Year over year employee growth (%): 35.9%
CyraCom, now the largest provider of over-the-phone language interpretation services with operations solely in the United States in the world, has become one of fastest-growing companies in the US.
In 2013, the Company increased its revenues 29 percent from $48 million at the end of 2012 to $62 million. The Company also had an employee growth of 35.9%, from 831 employees at the beginning of 2013 to 1130 employees at the end of 2013.
CyraCom has been recognized many times for this growth. In 2013,
•Inc. 5000 named CyraCom to their list of fastest-growing private companies in the United States for the fifth year in a row and the seventh time overall.
•The Common Sense Advisory ranked CyraCom as North America’s 6th largest language services provider in the translation and interpreting industry and the 20th largest vendor in the world.
•The Arizona Corporate Excellence Awards listed CyraCom as one of the top 50 largest companies in Arizona.
•CyraCom was recognized as the fastest-growing private job creator in Arizona and No. 32 nationwide by the Inc. Hire Power Awards.
2013 appears to be just the start CyraCom’s remarkable growth – the company is currently implementing plans for two new contact centers opening in the next few months with 500 new jobs created this year. The two new contact centers will be in Houston, Texas, with another large-scale contact center with 425 positions and a smaller contact center with 75 positions in Tucson, Arizona. CyraCom currently has three locations in Tucson, and locations in Phoenix, Arizona and Las Cruces, NM.
Over 20 percent of Americans speak a language other than English at home, and over 9 percent speak English less than very well. With immigration in the United States increasing – the number of first-generation immigrations has quadrupled from 9.6 million in 1970 to 38 million in 2007 – companies need to use interpreters to connect with their Limited English Proficient customers.
Most of CyraCom’s success can be attributed to its revolutionary business model that hires and trains bilingual people within the United States to become professional language interpreters. In the language services industry, there has been a trend of having interpreters work from home with limited training and oversight or offshoring interpreter contact centers to places such as Central America. CyraCom went against this trend by creating jobs in the US, paying competitive wages, and providing excellent benefit packages. CyraCom also determined that with a US contact center operation, it could implement aggressive new quality standards required by customers because of increased regulation. Many of the Company’s new customers could visit and audit its contact centers on US soil and were reassured of the security of CyraCom’s operations.
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Provide a brief (up to 125 words) biography about the leader of this nominated organization:
In 2012, Jeremy Woan won the Ernst & Young Entrepreneur of the Year Award for the Mountain Desert Region and was honored as Entrepreneurial Fellow by the University of Arizona’s McGuire Center for Entrepreneurship. Before joining CyraCom as CEO in 2008, Jeremy led a venture capital investment and advisory firm. He also built a high performance notebook computing technology company and an electronic patient record systems technology company through to IPO. Jeremy worked for several leading international investment banking firms where he specialized in the international growth and financing of technology companies.
Jeremy received two graduate degrees, law and public international law, from Cambridge University.