Licenseware, the Romanian startup that helps companies manage their IT costs, raised its second investment round worth 500,000 euros. Early Game Ventures led the round with participation from Fortech Investments. More than the capital, this follow-on round proves and strengthens the connection and understanding between the start-up and its two strategic investors.
“I’m happy to say that, over the past 6 months since the initial Pre-Seed investment, Licenseware has gained the right level of traction to raise another round. This has been a result of our team’s tremendous effort coupled with strong market validation,” said Alex Cojocaru, Co-Founder, and CEO of Licenseware. “Our initial round has given us enough fuel to reach the next stage in our evolution. Now it’s time to take it up a notch. This second round will further accelerate our growth rate and allow us to properly expand in other markets such as the US and Australia.”
“Licenseware is all about passion, for coding, for technology, for IT asset management, and generally for building great products that people love to use. Seeing the validation we’re getting from our partners is both humbling and exhilarating. Licenseware is more than a technology, it’s a paradigm shift, and closing this round means we can push even further into what IT asset management could mean for companies in the future” said Ciprian Grigore, CTO, and Co-Founder of Licenseware.
“The initial Pre-Seed investment gave us the required resources to scale development and execute our go-to-market strategy. This garnered us great feedback and validation only making us more certain our vision fits the market needs and our strategy to reach that is solid. This next round will allow us to significantly accelerate our velocity furthermore, catalyzing the delivery of the solutions we and the ITAM community collectively believe to be the future of software license management” said Chris Allen, CSO, and Co-Founder of Licenseware.
Since the official launch of the Licenseware platform (i.e. App Ecosystem) in August 2021, Licenseware has continued to expand its offering and has been actively creating strategic partnerships in the effort to commoditize software license management and drive community growth. Licenseware’s team has been continuously accelerating product development and market adoption.
So far, Licenseware has focused on developing applications that support Oracle software licensing; Starting January 2022, Licenseware will release apps ready to support the dynamic licensing needs of Microsoft users. On the horizon are AI apps that will help companies analyze software license contracts and blockchain-infused license management.
Licenseware is the first open app ecosystem of software license management. We help companies reduce the costs, risks, and complexity associated with using 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 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 a branch of Fortech, the Romanian company which provides custom software development services for over 18 years. They support entrepreneurs at any stage with financing, partnerships, and smart money to help them reach their business goals.
Licenseware is a StepFWD Alumni from 2020 Cohort.