DataArt raises $75M from the American FTV Capital

DataArt, one of the largest IT outsourcing companies in Ukraine, has raised $75 million from the American investment firm FTV Capital which became its minority stakeholder, Ukrainian media writes. The companies have not disclosed the post-money valuation. 

  • The agreement was signed in early 2022. DataArt’s strong growth in 2021 was the decisive factor behind the deal. The company’s revenue increased 60% to $290 million last year.
  • According to DataArt, the additional funding will allow the company to continue its development in the field of cloud technology and data management and strengthen its position in the market.
  • DataArt was founded in 1997 by Eugene Goland in St. Petersburg. In June, the company sold its Russian business to the investment company N3 group. The former Russian branch of the company now operates under the name ITentika.
  • Currently, DataArt employs over 5,700 people, with almost 2,000 in Ukraine. The company regularly ranks among the top 50 largest outsourcers in Ukraine.