VentureConnect announced a new investment for BITTNET Systems
BITTNET Systems (www.bittnetsystems.com), market leader in the Network Training sector in Romania, with representative corporate clients and showing sustained growth over the past five years, announced receiving an investment from a Romanian business angel after participating in the last VentureConnect edition from 23rd November of 2011.
BITTNET Systems, a company that participated in the most recent VentureConnect meeting from 23rd of November 2011, announces a substantial investment for 24% of the company’s from Mr. Razvan Capatina, a Romanian business angel with over 10 years experience in marketing and advertising. Currently, the turnover of the company reaches 500.000 EUR/ year and for the upcoming five years there is a 20 % growth estimation, reaching a turnover of 8.000.000 million EUR.
“For BITTNET Systems, the VentureConnect experience was absolutely perfect as everything worked: from the selection of the project for the Bucharest edition, up to the training received before the event, followed by presenting our business plan before an important audience and finalized with receiving a significant investment. Participation in the VentureConnect event showed us once again that BITTNET is a company that will be constantly growing in the future. Besides the investment in itself and the elements which complement our business vision, we believe that the next period will be immensely demanding, but nonetheless rewarding, “said Cristian Logofatu, Co-Founder and CTO BITTNET Systems.
The investment received by BITTNET supports the continuous development of the company being the gateway to a strategic business phase and activating an extended process of operational expansion.
“This is the reason we have started the VentureConnect project in 2010: constant and real support for Romanian and Eastern European startups. This is the second investment facilitated by VentureConnect, after www.tjobs.ro in 2011. Therefore, the VentureConnect plans set for this year are natural and necessary to a constantly growing and diversified entrepreneurial community“, mentioned Ana Maria Andronic, Senior Associate for the Biris Goran law firm and founding member of the VentureConnect Foundation.
The next VentureConnect edition is set for 31st of May.