Creatio, a corporate group providing a leading low-code platform for process management and CRM, which includes Terrasoft in its group, has raised minority investments in the amount of $68 million from Volition Capital Fund IV, L.P. (the United States) and Horizon Capital, the company said on Monday.
As noted in the message, Volition Capital acted as a lead investor, and Horizon Capital acted as a co-investor.
Creatio said that company’s team, management, and strategy, as well as its product vision and willingness to provide an exceptional customer experience, remain unchanged.
The received funds will be used to further accelerate expansion in the global market, strengthen R&D and actively develop the partner ecosystem in 110 countries of the world.
“Now is a critical time for digital and IT leaders to leverage tech and transform their organizations into low-code companies. This investment will allow us to keep building toward the vision of creating the new world, where any company can automate and change their business processes at speed and scale,” co-founder and CEO at Creatio Katherine Kostereva said.
Managing Partner at Volition Capital Sean Cantwell, in turn, said that market category of low-code platforms for process management and CRM has outstanding growth potential.
Creatio notes that according to analysts’ forecasts, the volume of the global market of low-code platforms will reach $187 billion by 2030.
“We are delighted to partner with the Creatio team. Creatio truly has it all to deliver on its ambitious expansion plans – a first-class team committed to its customers, solid execution, and strong product innovation,” Founding Partner and CEO at Horizon Capital Lenna Koszarny said.
As reported, earlier the Antimonopoly Committee of Ukraine gave permission to change the ownership structure of the Creatio Group and the entry of Volition Capital Fund as a minority shareholder.
The Creatio partner network numbers 700 or more organizations around the world. One of the key players in the global low-code, BPM and CRM market is Terrasoft, known for its Creatio (formerly bpm’online) software products. Terrasoft is part of the Creatio international group of companies, which employs 600 or more people, and clients are represented in 100 or more countries.
Volition Capital is a joint-stock company investing in high-potential technology companies owned by their founders.
CREATIO, HORIZON CAPITAL, INVESTMENTS, US VOLITION CAPITAL FUND
Foreign trade turnover by the most important positions in Jan-Nov 2020 (import).
PrJSC Dniprovsky Metallurgical Plant (DMZ, formerly Evraz-DMZ), a member of DCH Steel of DCH Group of businessman Oleksandr Yaroslavsky, will allocate more than UAH 15 million for the implementation of the energy saving program in 2020-2021.
According to a press release from the company, major repairs were carried out last year on the combustion plugs of excess blast furnace and coke oven gas, thus avoiding energy leaks. To date, the work on replacing outdoor lighting on the territory of the enterprise has been practically completed.
In rolling shop No. 2, seven frequency converters were installed on the fans for blowing off the electric motors of stands Nos. 1-8, about 70 lamps were replaced with energy saving ones in three spans. The lighting on conveyors S-4 and U-1 of the coke plant was also replaced.
“The modernization of lighting will significantly reduce energy consumption. In addition, working conditions will improve, as the illumination from LED lamps is much higher,” the press release said.
The plant specializes in production of steel, pig iron, rolled products and coke.
On March 1, 2018, DCH Group signed an agreement on the purchase of Dniprovsky Metallurgical Plant from Evraz.
The Cabinet of Ministers, the Ministry of Finance, the National Bank and profile committees of Ukraine are working on the launch of mechanisms for mortgage lending to the population with a fixed rate of 7% and financial leasing at 5%, Deputy Head of the President’s Office Kyrylo Tymoshenko said.
“A few weeks ago, the Cabinet of Ministers decided to launch a mortgage at 7%, now we are working together with the Ministry of Finance and the National Bank to reach an affordable and clear mortgage with a fixed rate […] There should be clear conditions – with a down payment of 20% for a period of 20 up to 30 years,” Tymoshenko said during the all-Ukrainian forum “Ukraine 30. Infrastructure” on Monday, February 22.
He said that several times, a mortgage with a non-fixed rate had been launched in Ukraine, which caused distrust of the population.
“A separate program is financial leasing, which is carried out by the Ministry of Finance with profile committees, at 5%. First of all, for doctors, military, police, socially unprotected segments of the population, and we also hope that we will be able to implement this for internally displaced persons,” Tymoshenko said.
The deputy head of the President’s Office said that financial leasing for internally displaced persons could start in the near future.
“We have found a mechanism for how to implement this. We hope that in the first half of the year, as the president set the task, this mechanism will be launched,” the deputy head of the President’s Office said.
Several companies from the UAE are interested in building a marina in Odesa, as well as port infrastructure, Ukrainian President Volodymyr Zelensky said at a press conference on Monday.
“There is a question of ports. They [companies from the UAE] are professionals. They are now in our market. We are talking about a large project – the construction of a large marina in Odesa and a large separate port. And one of the companies we met will be in Ukraine this week, and we will talk specifically about river transport, in which they are professionals and are ready to build river ports,” he said.
According to the president, he discussed these issues with representatives of large companies from the UAE during a meeting with business as part of his trip to the UAE.
Zelensky also said that river transportation is the cheapest in Ukraine, while it can be a profitable industry for both business and the budget.
As reported, the UAE plans to increase the turnover of agricultural products with Ukraine tenfold and bring this figure to $2 billion per year.
Abolishing the payment of value added tax (VAT) for domestic air transportation will create positive conditions for the development of domestic airlines and revitalize regional air traffic, Deputy Head of the President’s Office Kyrylo Tymoshenko has said.
“We have goals to abolish VAT on domestic air transportation. This is an important topic. After all, it will help the development of Ukrainian airlines – not only state ones, but also private ones,” he said during the “Ukraine 30. Infrastructure” forum.
According to the official, this year the creation of a state air carrier can be completed and Ukraine will receive an understandable state national air carrier that will be able to solve not only tourism issues, but also state issues.
At the same time, Tymoshenko recalled that in the spring of 2020, at the beginning of the COVID-19 pandemic, it was necessary to involve private airlines in the evacuation of Ukrainian citizens from other countries.
“All this will be decided by a large national air carrier, which, I hope, will become known to the whole world,” he said.
