Ciklum raises funding from Recognize

The IT company Ciklum has raised strategic investments from the technology investment platform Recognize. The amount of the deal was not disclosed.

Francisco D’Souza, co-founder of Recognize, and partners of the firm, Rajeev Mehta and Josh Miller, joined Ciklum’s board of directors.

About the companies

Today Ciklum employs 3,500+ professionals. The company has offices in Ukraine, Belarus, Spain, Poland, the UK, and Pakistan.

Recognize is a specialized technology investment platform founded by Francisco D’Souza, co-founder and former CEO of Cognizant, Charles Phillips, former CEO of Infor and former president of Oracle, and financier David Wasserman, a partner of Clayton, Dubilier & Rice. Recognize builds technology companies by partnering with talented management teams and providing industry insight, operational expertise, and strategic capital to spur innovation.

To recap, AIN.UA previously told in detail about the Ciklum’s ownership structure. It is not reported whose share decreased after the attraction of the new investor. The editorial team of AIN.UA requested details about the deal.

To recap, according to AIN.UA’s calculations, the valuation of Ciklum in 2019 was about $150 million. Check out the article to learn more about the history of investments in Ciklum.