TALLINN — Two venture capital companies have pumped €1.4 million in Estonian business software development company Erply Ltd.
Erply, founded just four months ago by Kristian Hiiemaa, is receiving the investment from the American company Redpoint and the Swiss Index Ventures to make online software for commercial retail inventory and e-commerce that handles data across [private_supervisor]shops and online stores and provides real time dashboards with relevant data. The price of the software starts at about 700 krooni per company, and Erply already has 2,000 business clients and around 8,000 users of its software.
Despite the promising initial sales, Hiiemaa said the investment was not an easy catch but required a lot of work and meetings with possible investors in U.S. and elsewhere, and now even more work is awaiting ahead.
“It’s scary, now we have to start working,” Hiiemaa told Baltic Reports. “We want to add more people into our team, enlarge our client base, and expand to the markets of other countries — the U.S. is the most attractive.”
Developer takeover
Earlier this year Erply acquired the Estonian firm Majandustarkvara OÜ as a result of stock-exchange — Erply got the company’s software developers and gave its stocks in return. Hiiemaa said that they are planning to take over more companies that way in U.K. and Estonia to expand and get more software developers.
The investment is planned to spend on enlarging and developing the team, but the biggest bite of it will be invested in marketing, for visiting different fairs to find more clients.
Hiiemaa said that at this moment there is no plan to sell their company as Skype did. [/private_supervisor] [private_subscription 1 month]
shops and online stores and provides real time dashboards with relevant data. The price of the software starts at about 700 krooni per company, and Erply already has 2,000 business clients and around 8,000 users of its software.
Despite the promising initial sales, Hiiemaa said the investment was not an easy catch but required a lot of work and meetings with possible investors in U.S. and elsewhere, and now even more work is awaiting ahead.
“It’s scary, now we have to start working,” Hiiemaa told Baltic Reports. “We want to add more people into our team, enlarge our client base, and expand to the markets of other countries — the U.S. is the most attractive.”
Developer takeover
Earlier this year Erply acquired the Estonian firm Majandustarkvara OÜ as a result of stock-exchange — Erply got the company’s software developers and gave its stocks in return. Hiiemaa said that they are planning to take over more companies that way in U.K. and Estonia to expand and get more software developers.
The investment is planned to spend on enlarging and developing the team, but the biggest bite of it will be invested in marketing, for visiting different fairs to find more clients.
Hiiemaa said that at this moment there is no plan to sell their company as Skype did. [/private_subscription 1 month] [private_subscription 4 months]shops and online stores and provides real time dashboards with relevant data. The price of the software starts at about 700 krooni per company, and Erply already has 2,000 business clients and around 8,000 users of its software.
Despite the promising initial sales, Hiiemaa said the investment was not an easy catch but required a lot of work and meetings with possible investors in U.S. and elsewhere, and now even more work is awaiting ahead.
“It’s scary, now we have to start working,” Hiiemaa told Baltic Reports. “We want to add more people into our team, enlarge our client base, and expand to the markets of other countries — the U.S. is the most attractive.”
Developer takeover
Earlier this year Erply acquired the Estonian firm Majandustarkvara OÜ as a result of stock-exchange — Erply got the company’s software developers and gave its stocks in return. Hiiemaa said that they are planning to take over more companies that way in U.K. and Estonia to expand and get more software developers.
The investment is planned to spend on enlarging and developing the team, but the biggest bite of it will be invested in marketing, for visiting different fairs to find more clients.
Hiiemaa said that at this moment there is no plan to sell their company as Skype did. [/private_subscription 4 months] [private_subscription 1 year]shops and online stores and provides real time dashboards with relevant data. The price of the software starts at about 700 krooni per company, and Erply already has 2,000 business clients and around 8,000 users of its software.
Despite the promising initial sales, Hiiemaa said the investment was not an easy catch but required a lot of work and meetings with possible investors in U.S. and elsewhere, and now even more work is awaiting ahead.
“It’s scary, now we have to start working,” Hiiemaa told Baltic Reports. “We want to add more people into our team, enlarge our client base, and expand to the markets of other countries — the U.S. is the most attractive.”
Developer takeover
Earlier this year Erply acquired the Estonian firm Majandustarkvara OÜ as a result of stock-exchange — Erply got the company’s software developers and gave its stocks in return. Hiiemaa said that they are planning to take over more companies that way in U.K. and Estonia to expand and get more software developers.
The investment is planned to spend on enlarging and developing the team, but the biggest bite of it will be invested in marketing, for visiting different fairs to find more clients.
Hiiemaa said that at this moment there is no plan to sell their company as Skype did. [/private_subscription 1 year]
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