Velvetech

Velvetech positions itself as a strategic, long-term technology partner focused on innovation, transparency, measurable impact, and client service throughout the full cycle of digital transformation and product engineering.

Velvetech in numbers

• 250+ employees
• 1,000+ projects delivered
• 15+ industries served
• 400+ clients across the USA
• 92% middle- and senior-level experts
• 20/7 availability
• 2+ years listed as the average partnership

History

Velvetech was founded in 2004 by Yuri Yushkov. The company expanded into insurance, healthcare, logistics, and education partnerships by 2009, formed strategic alliances with Microsoft, Creatio, WorldPay, and PandaDoc in 2016, and became a fully distributed company in 2020 while retaining its US headquarters.

Values

Velvetech highlights the following values:

• Cultivating loyalty
• Emphasizing respect
• Focusing on performance
• Putting responsibility first
• Continuous development
• Fairness and honesty

• AI model design and training
• Self-learning AI systems
• Context-aware AI development
• Reinforcement learning implementation
• Edge AI and on-device learning
• Predictive and prescriptive analytics
• AI-powered automation
• AI model monitoring and evolution

The company also works with generative AI, conversational AI, machine learning, deep learning, model engineering, natural language processing, cloud computing, and data science.

Adaptive AI development process

1. Business needs assessment: Identify where adaptive AI can improve workflows, services, or products.
2. Model selection and training: Select and train an appropriate machine learning, deep learning, or reinforcement learning model.
3. Real-time data integration: Connect data sources such as IoT, ERP, CRM, and cloud platforms.
4. Deployment and optimization: Deploy the model, fine-tune performance, and verify accuracy against requirements.
5. Ongoing evolution: Retrain the model with new data and make adjustments to maintain effectiveness and scalability.

Use cases

Adaptive AI use cases include:

• Finance and banking: fraud detection, risk management, and algorithmic trading
• Healthcare: personalized treatment recommendations, diagnostics, and workflow automation
• Insurance: claims processing, risk assessment, underwriting, and customer retention
• Manufacturing: predictive maintenance, automation, and defect detection
• Retail and eCommerce: dynamic pricing, recommendations, and inventory optimization
• Supply chain and logistics: demand forecasting, adaptive routing, and warehouse automation
• Energy and utilities: smart grid optimization and infrastructure maintenance
• Education and EdTech: personalized learning, automated grading, and adaptive training

Velvetech emphasizes a client-focused approach, ethical and responsible AI, security and compliance, deep AI expertise, and a transparent process.

Core services

Velvetech provides end-to-end software development and technology services, including:

• Custom software development
• Enterprise software and system design
• Mobile app development
• AI and machine learning development
• Data engineering and data science
• IoT implementation and hardware engineering
• Business process automation
• Legacy system modernization
• IT strategy and infrastructure engineering
• Cloud services and migration
• DevOps, QA, and software testing
• CRM implementation
• Blockchain development
• Integration and API development
• SaaS product development
• Managed IT services
• Technology consulting

Selected capabilities

Custom software

Velvetech builds tailored enterprise-grade software, including web applications, SaaS products, backend and frontend systems, APIs, blockchain solutions, and serverless applications. Projects may involve modernizing existing systems or creating new platforms from scratch.

Enterprise systems

The company develops CRMs, ERPs, proprietary platforms, and other enterprise systems designed for scalability, security, integration, high-volume operations, and cross-department collaboration.

Mobile applications

Velvetech develops native iOS and Android applications as well as cross-platform solutions. Its mobile services cover the application lifecycle, from user experience and backend architecture to products distributed through the App Store and Google Play.

Data and IoT

Data services include data preparation, management, warehouses, analytics, business intelligence, data science, and big data. IoT services include device integration, cloud platforms, dashboards, embedded software, hardware engineering, hardware procurement, and connected solutions for industries such as healthcare, logistics, and manufacturing.

Automation and modernization

Velvetech helps businesses automate manual workflows, upgrade legacy systems, improve accuracy, and scale operations. Offerings include robotic process automation, industrial automation, contact center automation, document management, sales process automation, supply chain management, and unified communications.

• Dedicated team: Build a custom-fit team while retaining control over the outsourced work.
• Staff augmentation: Add vetted developers to fill skill gaps and integrate with an existing team.
• Technology partner: Delegate IT initiatives end-to-end, from strategy through launch.

The company states that its service model can support enterprise companies, mid-market organizations, startups, and digital innovation firms. It also describes nearshore and offshore delivery and 24/7 implementation service models.

Starting a project

To request a project consultation and estimate, prospective clients can submit a form with their name, email, phone number, and project message.

The stated process is:

1. A Velvetech expert reviews the request and reaches out.
2. If needed, Velvetech signs an NDA to help keep ideas confidential.
3. The team may request additional details about the goals.
4. Velvetech schedules a call to discuss the vision and initial thoughts.
5. If both sides agree, they sign an agreement and begin the project.

The website states that Velvetech will contact prospective clients within one business day to schedule a consultation.

• Finance and fintech
• Healthcare and pharmaceuticals
• Insurance
• Transportation and logistics
• Manufacturing
• Retail and eCommerce
• Real estate
• Education
• Oil and gas
• Maritime
• Food and beverage
• Agriculture
• Automotive
• Construction
• Travel and hospitality
• IT and telecom

The company describes experience with financial software, healthcare and telemedicine solutions, insurance automation, AI- and IoT-enabled logistics, manufacturing modernization, retail personalization, real estate analytics, EdTech platforms, energy asset management, maritime operations, agricultural monitoring, automotive technology, construction systems, and travel platforms.

Technology areas

Velvetech's technology stack includes:

• Backend: .NET Core, Node.js, ASP.NET MVC, Java/Spring, Golang, Ruby on Rails, Entity Framework, and Python
• Frontend: Angular, Vue.js, Bootstrap, React, and Knockout
• Mobile: Swift, Kotlin, Flutter, Titanium, and Xamarin
• AI and machine learning: TensorFlow, Scikit-learn, Keras, PyTorch, and PaddlePaddle
• AI models and platforms: GPT-4o, LLaMA, Amazon Bedrock, Claude, DALL-E, Whisper, Stable Diffusion, Gemini, and PaLM 2.5
• Databases: MS SQL, Apache CouchDB, MySQL, Redis, Oracle, DynamoDB, MongoDB, and Snowflake
• Cloud and infrastructure: AWS, Azure, Google Cloud, Kubernetes, Docker, Terraform, and related DevOps technologies
• Integration and connectivity: GraphQL, gRPC, REST, WebSocket, MQTT, and API integrations