Licenseware, the Romanian startup that helps companies manage their IT costs, raised a first round of investments worth 120,000 euros. Early Game Ventures led the round with participation from the software development company Fortech. Digital2Law provided the legal support of the transaction.
“Our investors believe in our team, in our vision and business model, and will support the future Licenseware. We are excited to have them with us for the next stages of our journey,” said Alex Cojocaru, Co-Founder, and CEO of Licenseware.
“I have been self-funded for more than a year. This first round will accelerate the growth rate we need to achieve our goal of developing the first License Management App Ecosystem.”
“Licenseware redefines license management applications, based on a platform designed for integration and collaboration. The ITAM (IT Asset Management) technology of the future is an open ecosystem, not an isolated monolith. It is built by thousands of experts who turn their knowledge into algorithms and data structures,” said Ciprian Grigore, CTO and Co-Founder Licenseware.
Since the launch of the prototype in early 2020, Licenseware has expanded its offering into an all-in-one platform that automates the administration of software licenses while providing sufficient granularity for the specific requirements of each user and software manufacturer. Licenseware is now expanding its team to accelerate product development and market share growth.
So far, Licenseware has focused on developing applications that support Oracle software; soon, it will launch license management applications for other major software vendors such as Microsoft, SAP, and IBM.
Licenseware develops an ecosystem of software license management applications. We help companies reduce their costs and turn the risk associated with using enterprise software into growth opportunities. Our solution makes it easy to make quick and informed decisions and allows organizations to control how they buy and use the software. Since its launch in 2020, Licenseware signed the first contract with a big client and graduated from the How To Web and StepFWD accelerators.
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.
Published on PRFIRE