ROMANIA, November 29th 2022 – Licenseware, the Bucharest born startup that helps companies manage their software costs and licensing risk, raised an investment round worth more than 1 million euros. Early Game Ventures led the round with participation from Fortech Investments, Acequia Capital, Hellen’s Rock. Aside from the main investors, Roca X, Growceanu, Transylvania Angels Network and Startup Wise Guys showed their appetite for joining the round. More than the capital, this follow-on round proves the continued trust of existing investors Early Game Ventures and Fortech Investments but also as valuable validation from an international group of investors.
“License management and controlling software spend represent major cost drivers for every organization. The market opportunity is huge and so far we’ve been making the right moves from a product perspective. We’re really grateful for the amazing validation from the industry and investors so far.” said Alex Cojocaru, Co-Founder, and CEO of Licenseware. “With this new capital, we’re ready to step-up our game and face the market head-on, while maintaining velocity on the product front.”
“Over the course of this year, our team has been hard at work perfecting the way we build and deliver apps. Our SDK makes building apps a breeze, our platform is reaching new levels of stability and observability, and our data engineers have the ability to extract insights out of any dataset, no matter how complex. This new investment round will allow us to deliver on Licenseware’s promise: faster time to value and reliable, easy to understand business insights for our customers.” said Ciprian Grigore, CTO, and Co-Founder of Licenseware.
“With the traction and market understanding we’ve found during 2022, combined with our bolstered app line-up, extensive roadmap and SDK to further accelerate development, we are set to drive Licenseware to a completely new level in 2023” said Chris Allen, CSO, and Co-Founder of Licenseware. “With this new investment we are focussing a significant amount of resources into bringing Licenseware to more of the world, extending our reach globally into strategic markets at a much more aggressive rate than we could achieve before, needless to say I’m very excited!”
Since securing €0,5M in December 2021, Licenseware has released 10 more apps and a public SDK which allows third parties to build and monetize apps on the Licenseware platform. Licenseware’s team has been continuously accelerating product development and market adoption.
While the focus was on Oracle software initially, Licenseware now also provides solutions for Microsoft license management and is currently expanding its product roadmap in the FinOps space and other high risk vendors.
Licenseware is the first open app ecosystem of software license management. We help companies reduce the costs, risks, and complexity associated with enterprise software. Our solutions make it easy to make quick and informed decisions and allow organizations to control how they buy and use the software. Since its launch in 2020, Licenseware has been busy signing its first clients, graduating from the How To Web and StepFWD accelerators, and receiving multiple nominations for innovating the IT asset management market.
About Early Game Ventures
Early Game Ventures (EGV) is a venture capital firm funded mostly through the Competitiveness Operational Program 2014-2020, co-funded by the European Regional Development Fund.
About Fortech Investments
Fortech Investments is an angel investment fund and strategic partner for founders of early stage start-ups that develop solutions in MedTech, Production, FinTech, PropTech and Automotive. To help start-ups achieve their goals more efficiently, they offer, in addition to capital, software development and industry-specific expertise.