Ciklum backed by US technology investment firm

On December 29 Ciklum, a major software engineering company operating globally from its main office in Kyiv, announced a “significant strategic investment” from Recognize Partners, an American global technology investment firm. The details of the transaction were not disclosed. 

Recognize’s co-founder Francisco D’Souza and partners Rajeev Mehta and Josh Miller joined Ciklum’s board of directors.

In early 2019, Ciklum announced an investment of an undisclosed amount from Ukrainian investors Dragon Capital and AVentures Capital. No substantive details of the deal were disclosed, but local tech blog AIN.UA published an in-depth article on Ciklum’s shareholder structure and valuation.

Headquartered in the UK, Ciklum is one of Ukraine’s most famous IT service firms, founded back in 2002 by now-defunct Danish businessman Torben Majgaard. The company specializes in enabling digital transformation for major household names and digital economy platforms, with clients in more than 30 countries. Supported by more than 3,500 engineers, its development centers are located in Ukraine, Belarus, Spain, Poland, and Pakistan.

Based in New York City, Recognize defines itself as a “a specialist technology investment platform” that “provides industry insight, operational expertise and strategic capital.”.

Topics: Finance, International, IT services, News, Venture/Private equity
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