European IT Powerhouse TenderHut Posts €9 Million Euros Revenue In 2019
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European IT Powerhouse TenderHut Posts €9 Million Euros Revenue In 2019

Monday, February 3, 2020 9:30 AM
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Company Update,Earnings

WARSAW, POLAND / ACCESSWIRE / February 3, 2020 / Over 8.79 Million Euros - this is the consolidated revenue with which the fastest-growing Polish IT company, the technological TenderHut Capital Group, will most likely close 2019. In comparison to the previous year, this result is better by €2.93 Million Euros. The last 12 months were extraordinarily intensive for the company. Strategic takeovers, the development of foreign divisions, new startup projects, and prestigious awards are just some of the accomplishments noted by the Polish company last year.

Key data about the company:

· Estimated 8.79 Million Euros consolidated revenue for 2019 (56% y/y increase)

· €5.86 Million Euros in consolidated revenue after the 3rd quarter of 2019

· 8 development centers in Poland

· 9 foreign divisions

· 6 Polish companies and 3 foreign companies (China, Denmark, USA)

· 3 innovative products: Zonifero, Holo4Labs, Grow Uperion

"Last year, the group initiated projects that will be critical to its future. After a period of intensive consolidation of the IT industry, we have entered a time of strategic investments, which, in the coming years, will lead us to maximization of profits and expansion to other markets" - Robert Strzelecki, President of the Board of TenderHut Capital Group, explains.

New Foreign Subsidiaries

The Far East is a direction that has long been within the circle of interests of the group's board. In 2019, the company opened its office in the Middle Kingdom. The city of Guangzhou (Canton province) - one of the largest industrial centers - became the seat of the Chinese Solution4Labs office, a company belonging to TenderHut Capital Group. This Chinese division's main task will be to implement specialized laboratory software on the local market. TenderHut is also developing its Danish representation, creating a local special-purpose company for Nordic markets - SoftwareHut Nordic. Over twenty programmers are developing software for clients from this region. In the past year, Scandinavian countries generated nearly 40% of the group's revenue. In March 2019, TenderHut Group founded a subsidiary in the United States, SoftwareHut LLC, which had the primary task of conducting sales activities on the local market.

Takeovers And Development Of Our Own Projects

In 2019, the company successively realized its policy of consolidating the IT industry. In mid-May, it concluded a contract for takeover of 100% of the shares of the Warsaw-based Javeo Software, which was incorporated into SoftwareHut's structures. This acquisition made it possible to strengthen the company's potential and develop a portfolio of new clients and projects. One of TenderHut Group's most recent investments was its engagement in the Grow Uperion startup, operating in the HRTech sector. By combining knowledge in the field of psychology of motivation and TenderHut's technological capacities, an innovative platform for employee education, development and motivation is being developed. TenderHut Group is known for its non-standard approach and effectiveness in creating innovative technological solutions. In 2019, its previous investment in the original Zonifero project bore fruit in the form of one of the largest contracts in the Polish PropTech industry, concerning servicing of 150 thousand sq. m. of office space under development by the Cavatina S.A. holding. Another innovative project realized by the company is the implementation of Holo4Labs software, dedicated for the Microsoft HoloLens 2 augmented reality goggles, for the purposes of research in laboratories.

International Success

The Polish IT leader's achievements have been noticed by the Deloitte Technology Fast 500 EMEA ranking. In last year's edition of this ranking, 17 companies from along the Vistula river were listed, and TenderHut Capital Group had the best result among Polish companies, recording revenue growth of 1496%. Moreover, at the beginning of March of last year, the company was recognized by the UK-based Financial Times as one of the fastest-growing companies in Europe (FT1000). The Polish leader in IT solutions took 23rd place, noting a jump by 224 places compared to the previous list. Only 22 companies from Poland qualified for the Financial Times ranking, and among them, TenderHut took the 1st spot. Two of the group's flagship projects were appreciated in international competitions. Holo4Labs - a project utilizing the latest Mixed Reality trend, was awarded a distinction in the Innovative Initiative of the Year category in the prestigious Emerging Europe Awards contest, while Zonifero - the PropTech startup, received an award during the Central European Startup Awards for the best IoT startup in Poland.

With record-breaking financial results, the development of successive markets, and an ever-broader portfolio of original projects - this is how the year 2019 can be summarized for the entire TenderHut Capital Group. The company's strategy is based on the assumption of intensive growth, and until now, the company's board has consistently been realizing this objective.

Dan Edelstein
[email protected]

SOURCE: TenderHut

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