IT

Half a billion in a year: investments in Ukrainian IT grew to a record level

By the end of 2020, Ukrainian IT companies received a record $571 million in investments. This figure is $27 million higher than in 2019. Such data are contained in the annual rating of investments in the Ukrainian IT sector DealBook of Ukraine from the investment fund AVentures Capital.


DealBook of Ukraine: 2021 edition from Yevgen Sysoyev

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At the same time, 62% of the total investment amount was attracted by four companies with Ukrainian origin: GitLab, Creatio, Restream, and airSlate.

A record was also set for early funding last year. Thus, in the seed and A-rounds, $161 million was raised, most of this amount came from international investors (3.5 times more than at the end of 2019). At the same time, AVentures Capital, Genesis Investments, ICU, Dragon Capatal, Horizon Capital (the latter two are at the growth stage) and others have invested in Ukrainian companies.

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Development of IT companies in 2020

GitLab grew by becoming the first multi-billion dollar company to be created in Ukraine. It was valued at $6 billion. The most growing startup was the application Reface.ai (for changing the face in the video). It launched in January last year and has been downloaded by 70 million people since then.

The Investment Fund has also created a rating of the companies with the highest international income. It is about Jooble, Genesis, Grammarly, airSlate, Creatio and others.

Despite the coronavirus crisis, Ukrainian product companies were active in the field of mergers and acquisitions in the software market, attracting strategic investors and investment funds.

Ukrainian companies are also active in mergers and acquisitions on the side of buyers. For example, the Ukrainian job search system Jooble bought a startup aggregator of vacancies Hotwork, and the intellectual security company Ajax Systems bought a team of engineers from the design and product development studio Concepter.

Context. At the end of 2019, the amount of investments in the Ukrainian IT sector broke a record and amounted to $544 million.

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