Nearshore software services provider Tiempo Development, which has its largest operations in Mexico, has reportedly raised funds from Alerion Capital Group to expand operations.

Tiempo will open new offices and hire up to 300 people by next year, reported Phoenix Business Journal citing the company’s CEO Cliff Schertz.

“We’ve been experiencing significant growth over the past five years, and we really needed to bring in a financial partner to help us in our next phase of growth,” Schertz said. “This allows us to expand that organic growth and gives us options to hire key companies.”

Alerion Capital is a US-based equity and management advisory firm that invests in tech product and service providers.

Although headquartered in the United States, Tiempo Development has deployed most of its staff at its delivery centers in the Mexican cities of Guadalajara, Monterrey, and Hermosillo.

Schertz has confirmed in his interview with the Business Journal that the company’s Mexican office’s will also hire more employees.

Tiempo bolstered its operations significantly last year when it acquired Mexico-based Jaguar Labs with an innovative talent pool.

“There’s not enough software engineers the world is demanding, and that’s only increasing with mobile, internet of things and the cloud,” Schertz said. “We’re right in the mix of that. Our value proposition has really matured.”

Jaguar Labs bolstered Tiempo’s agile software development practice, besides helping it widen services to companies in a wide range of sectors, including cloud computing, finance, healthcare, legal, and security.

On its website, Tiempo has praised its Mexican engineering team, saying “we have (…) exceptional bilingual and bicultural talent resulting from our nearshore, talented engineering teams based in Mexico.”