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Targetprocess is a product IT-company has attracted 5 mln $ of investments from Zubr Capital and EBRD
27 April 2018

Targetprocess, product IT-company has attracted investments from Zubr Capital and European Bank of Reconstruction and Development. Zubr Capital informs about acquisition of majoritarian share of Targetprocess.  The company will be in portfolio of Zubr Capital Fund I (ZCFI).  

Targetprocess develops projects portfolio management systems based on Agile. Over 1000 companies from 80 countries all over the world use its decisions, among them are Cisco, Citrix, Caterpillar, Marriott. The offices of the company are Belarus (R&D), USA, Germany and United Kingdom (sales). 

Market of project portfolio management, on which Targetprocess works, is evaluated in 2.5 billiard USD in 2015 and it will exceed 4.6 billiards USD till 2020. The quality of Targetprocess product is proved by researches of consulting company Garner that included Targetprocess into Enterprise Agile Planning Tools. 

«Market of project portfolio management systems changes fast and no one can get it on. At some moment, we understood that without investments we could not step out comfortable SMB world to rough Enterprise. Each company is unique and has its own processes and principals. There are no instruments on the market that adobe under new conditions. Our goal to create the platform of visual management of agile-projects that will suit many companies without strange and uncomfortable work around solutions. Investments let us to increase development team, to strength marketing and sales and to move forward faster», - says СЕО Targetprocess Mikhail Dubakov.

The co-investor of the deal became European Bank of Reconstruction and Development.   Investments will be for marketing development and sales system and for product development.

«Today technologies develops very fast in any sphere, but on IT market it is very noticeable. Complicated technological projects should be executed in tight timelines with that holding down quality of a product. Therefore, it is logical that today the market of soft for project management grows very fast. We see great team and high-demand product in Targetprocess. We understand that soft based on Agile is the thing of the future that’s why we decided to invest into this company», - said СЕО of Zubr Capital Oleg Khusaenov.