Lithuanian company Vecticum receives $100k under Google Cloud for Startups
Lithuanian company Vecticum has received a $100,000 investment from the technology giant Google, under the Google Cloud for Startups Program. The company develops a platform for employee self-service and business process automation.
- Founded in 2018 by Tomas Masiulis and Jaroslav Gil, Vecticum develops a platform of integrated business apps, that allows companies to automate various operational processes, from personnel and document management, to procurement management or incoming invoice automation tools.
- The system architecture allows all standard solutions to be easily adapted to each customer’s specific needs. According to the company, about 800 companies in Lithuania and Europe use the Vecticum system.
“Similar solutions are already more than 30 years old and technologically aging, therefore adapting them to the emerging needs of customers becomes expensive and irrational… Our vision of what a modern process management system for business should look like has attracted great interest from companies both in Lithuania and abroad. Consistent growth has attracted Google’s attention, and their investment has become an important recognition of our achievements and confirmation that we are on the right track,”Jaroslav Gil, director of Vecticum, comments.
- Apart from financial support, the deal also gives Vecticum the opportunity to interact, receive advice, and help from Google engineers from various fields. The company has already started working on several projects in the field of automation and artificial intelligence.