INSUBCONTINENT EXCLUSIVE:
Targetprocess launched in 2004 in Minsk, Belarus with a mission of making it simpler to manage agile-driven programming projects
It announced it has taken its first funding in its 14-year history, a $5 million Series A led by the European Bank for Reconstruction and
Andrey Mihailenko, co-founder of Targetprocess, says the time is simply right to take on more money to expand its market vision
We see the opportunity right now because more companies understand the value of agile to provide faster response to change agents and
they felt it was the right time to expand
Mihailenko explained.
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Like many startups, this one was born out of necessity when one of
born.Today, he says his company focuses on agile teams of all sizes as the agile concept has become popularized over time and mainstreamed
From the five co-founders, they have grown to 115 employees with over 1000 clients worldwide, according to Mihailenko.The development team
remains in Minsk, but they have small offices in Buffalo, NY, London and Berlin.They plan to use the money to push into new markets by
hiring new sales and marketing professionals, who can help them expand and grow
They also intend to enhance the RD team in Minsk and expect to reach 160 employees in the next 12-18 months.
