References
Here you are a selection of the hundreds of projects we successfully supported our Clients in achieving their ambitious goals:
Our Client CodersRank, the multiple award-winner IT recruitment startup is connecting IT developers and recruiters on a data-driven global platform. The solution – in contrast with traditional CVs – automatically creates and assesses a real-time 360-degree professional developer profile based on their real coding experience and their digital footprints, offering a real alternative to recruitment challenges of the IT industry.
CodersRank received seed funding in 2019. In-spite of a strong market need, the innovative technology and the growing developer community (55k+ registered developers, 1700+ recruiters in 140+ countries), they could not manage to find the corresponding business model and reach their early adopters. As VC funding was running out, the investor on board was getting more and more impatient, even the idea of a firesale popped up. But the founder team had a strong belief in the product and gave mandate to Absolvo to seek a strategic partner with whom they can turn the platform into a success story.
Our advisory team started with the revision of the growth strategy and in a few weeks, we managed to find a new business model and the product-market fit. Absolvo then worked out the company’s equity story, built up a new bottom-up business plan and compiled the investor documents. Together with CodersRank founders we have worked out the potential investor profiles and based on that compiled the long list and started the contacting process. After that we evaluated the investment offers, supported the negotiations, advised the company on deal terms, supported the due diligence process, and coordinated contracting, transaction closing and other transaction-related tasks.
Though the company raised serious interest from strategic buyers – among others a global software giant gave a proposal to acquire 100% of the company – the founder team decided to invite angel investors on board and continue to build the success story of CodersRank with their support. Thus they received not only fresh capital injection but also the personal network, management experience, strategic guidance of their new shareholders.
Our Client Continest Technologies, developing and manufacturing innovative, foldable modular containers debuted on the internationally recognized Sziget Festival in Hungary in 2017 with their infrastructure solutions and 2 years later, in 2019, the entire service facility of ski world championship in Sweden was built by their containers. Beyond the purpose of office and event utilization, they are also developing tailor-made solutions for defence and medical industries (mobile COVID-test laboratories). Due to its foldable nature, the sustainable Continest innovation makes the process of logistics 80% more cost-efficient.
To accelerate industry-specific product developments, enter new European markets and support growth ambitions, Continest had raised venture capital in 2019. They had achieved a turnover of more than HUF 820M already in 2020, which dynamically increased to HUF 1.6 bln in 2021 and they currently distribute containers in 18 countries worldwide already. They successfully closed a second VC round in June 2022 aimed to further boost international business development, expanding into new markets and increase manufacturing capabilities. Both transactions were proudly advised by Absolvo’s growth financing team.
Our advisory team supported Continest in business and financial planning, compiling investor documents, contacting and negotiating potential investors, evaluating investment offers. We supported the due diligence process, contributed to negotiate investment and syndicate agreement, coordinated transaction closing and other transaction-related tasks.
Our Client Conversific, the Hungarian unique ecommerce analytics tool developer offers ecommerce reports and benchmarks, data insights, as well as product and consumer analysis for webshops. The tool has 20k users from 180 countries, ranking 1st among the analysis tools on Shopify.
To accelerate international expansion, support innovation and further product development, the company raised investment from Hungarian VC firms Hiventures and Bonitas.
Our growth financing team advised the founder team in the elaboration and finalization of the business and financial plans, evaluated and negotiated term sheets, supported the due diligence process, negotiated the investment agreement, and supported the team during the transaction’s closing process as well.
Logiscool, the international leader in coding education for children and teens offers fun-based method in teaching kids the basics of logical thinking, improving their problem-solving skills, creativity, improving their digital skills and understanding complex processes to make their life easier and competitive in the highly digital world. Logiscool is present currently in 16 countries, teaching more than 60,000 students. The company has previously received angel investment from NNG-founder Péter Balogh; to accelerate international expansion and building up their franchise network on the new markets, they raised investment from Euroventures, one of the leading independent VC and PE firms in the CEE region.
Our growth financing team advised the management during the overall transaction process; we supported the business and financial planning, contacted potential local and international investors, compiled the teaser and investor deck, evaluated and negotiated term sheets , supported the due diligence process, and negotiated the investment agreement, supported the team in the signing and closing as well.
Starschema is a dominant player in the European market in the field of Big Data, BI, data visualization as well as data warehouse development and consulting, Fortune 500 giants seek their competences such as Apple, Facebook or Netflix. They are leading their category on the Top 5000 most rapidly growing European companies’ list of the Inc. business magazine.
Our corporate finance team advised the overall transaction process exclusively: creating investor teasers and presentations, contacting potential local and international investors, evaluating offers, forming and negotiating deal terms, supporting due diligence, negotiating investment agreement and coordinating other tasks and managing transaction closing.
After several offers made by financial and strategic investors they closed a successful transaction with a regional private equity fund.
Deal support for one of the most successful, Deloitte Technology Fast 50 listed Hungarian-owned IT security startups, Balabit.
We participated in international investor negotiations, the evaluation of investment offers and formulation of deal terms, and provided further support during the transaction process.
Credit4Sales has developed and launched an innovative fintech software solution in the field of credit management. We supported our Client throughout the entire fundraising process from preparation to transaction closing, including business model and strategy review, market and competitor analysis, business and financial planning, valuation and exit strategy formulation.
During the project we introduced this unique investment opportunity to several local and international investors, we supported our Client in evaluating and negotiating term sheets and SPA terms and supported deal closing, too. The company received altogether 1M EUR funding from a VC and a co-investor.
Oriana is the developer of the low-code platform technology Effector that offers its 70k+ user base a fast and simple way to design and develop complex business applications in case custom-made solutions are no option due to time constraints, cost intensity or lack of adequate software developer competences and experience.
Our team advised the overall capital raising process which is aimed at supporting Oriana’s expansion on a market with 40% YOY growth, strengthening sales & marketing operations, preparing and accelerating the company’s scaling process. Following the preparation of a business and financial plan, our advisory team identified and contacted potential local and international investors, supported investor negotiations, evaluated incoming offers, formulated and negotiated key deal terms, supported the due diligence process and other tasks including transaction closing.
Avatao.com is an IT security online training platform targeting 25M software developers globally, multiple winner of international startup competitions, award winner of “The most dynamically growing scaleup” of Regional Startup Innovation Day in 2018.
They received seed financing in 2017 with the help of our financing team for product and business development. In 2018 they have trusted our team again to support the next late seed round, this time international investors provided funding for the execution of their growth strategy, the strengthening of their sales and marketing efforts as well as the preparation of their global scaling.
Following the revision and rewriting of their business and financial plans, Absolvo supported the overall transaction process. We took part in the identification and contacting of potential local and international investors, supported negotiations, evaluated investment offers, negotiated deal terms, supported the due diligence process and coordinated other related duties, including closing tasks.
The 2nd round of fundraising, with the participation of the seed round investor, has been realized in a form of co-investment with such high prestigious international investors with direct access to the Silicon Valley on board, like Speedinvest – one of the most active technology focused VC in Europe -, and the California-based global early stage VC, investing into a Hungarian startup team for the very first time, 500 Startups.
Support for the regional SAM (software asset management) market leader in preparation for fundraising and the transaction process. Following the elaboration of their international expansion strategy it was our responsibility to support the business planning, create the financial plan and the exit strategy and contact potential VC funds.
Our team supported IPR in evaluating investment offers, forming and negotiating deal terms, proceeding with due diligence and managing transaction closing with a Jeremie fund.
Supporting agro M2M company Gremon’s fundraising round by reviewing business plan, evaluating term sheets and negotiating deal terms on behalf of our Client, supporting due diligence, SPA negotiations and closing deal with a Jeremie fund.
Starschema is a dominant player in the European market in the field of Big Data, BI, data visualization as well as data warehouse development and consulting, players from Silicon Valley use their services such as Facebook or Netflix. They are leading their category on the Top 5000 most rapidly growing European companies’ list of the Inc. business magazine; previously this list contained such companies, who since grew into giants, like Facebook, Microsoft or Oracle.
Absolvo team supported Startschema’s spinoff project VirtDB in fundraising to finance their international expansion.
During the process we contributed in creating the business and financial plan, teaser and investor presentation, defining the exit strategy, contacting potential investors, evaluating term sheets, negotiating the investment agreement and completing different tasks related to the transaction closing.
Duelbox is an innovative gamification company. We helped them in the preparation for seed financing: conducting VC/PE analysis to see which investment type suits the most, creating a road map, a step by step fundraising plan, advising on investor types and presentations, preparing and supporting negotiations with potential investors.
Agro-project
Supporting an agrarian company prior to capital raising by conducting a VC/PE investment analysis, based on key findings defining areas of improvement, strategic proposals to increase enterprise value and improve negotiating position. We were also responsible for clarifying typical investment criteria, defining investor preferences and ideal investor profile, analysing international investors, preparing draft valuation model.
