OVES Enterprise doubles investments, to 3 million euros, in 2023, to accelerate international expansion and develop its own products
• OVES Enterprise is present with offices in 5 countries: Romania, USA, Germany, United Arab Emirates and Great Britain
• Last year, the company doubled its turnover to 6 million euros
• OVES Enterprise estimates, in 2023, a 100% increase in business
• Most IT projects will come from the financial and defense industries
OVES Enterprise, a software development company from Cluj, announces the doubling of investments, to 3 million euros, for 2023, emphasizing innovation, the launch of its own products and international expansion, in the effort to to be closer to potential customers.
The company, with business of over 6 million euros in 2022, keeps the pace of growth in 2023 and estimates the doubling of business, this year, against the background of the increase in the number of projects in the financial industries (banks, financial institutions, start-ups from financial area etc.) and defense.
“We estimate, at least, a doubling of the OVES Enterprise business in 2023. We will continue to focus this year on the defense and financial segments, but also on the cloud area, as we have a lot of requests from here and we also have the necessary expertise to comply with these requirements. At the same time, we see an increase in demand in the healthcare area as well, a segment that we expect to have an important evolution”, says Mihai Filip, CEO of OVES Enterprise.
The number of OVES Enterprise clients increased last year by approximately 30%, but the doubling of the business in 2022 was generated by the solidification of already existing partnerships, the company succeeding, with each client, in scaling the services offered, from the development area, at the beginning , to consulting, strategy, cybersecurity, data security and more.
Last year, OVES Enterprise started the process of expanding its presence in the international market, by opening offices outside Romania. Currently, the company operates 5 offices abroad: in the USA, in Palo Alto (Silicon Valley), in Germany (Munich and Berlin), in the United Arab Emirates (Dubai) and in Great Britain (London).
“We will continue international expansion in 2023. We want to explore the option of opening new offices in the US, for example in New York or Washington. We do not rule out opening an office in the northern part of Europe as well, most likely in Sweden, which is the gateway to the Nordic countries. And France remains an interesting country for us, with many possibilities in the tech area. At the same time, we have a partner from Asia who wants to open an office there – we are also exploring this option”, says Mihai Filip.
Optimizing projects, reducing costs and increasing profitability are the aspects that complete this year’s strategy of OVES Enterprise.
As for the number of employees, OVES Enterprise closed 2022 with a team of almost 200 collaborators. The company proposes a 50% increase in the number of collaborators, reaching, at the end of the year, up to around 300. This objective is closely related to the global economic context and will be adjusted during the year, according to the opportunities and the context .
About OVES Enterprise
OVES Enterprise is a Romanian software development company, established in 2015 in Cluj-Napoca. Starting in 2019, OVES’ strategy included offering more complex software development services for projects in the automotive, eCommerce, fintech, telecom, international government institutions, etc., the company becoming a technological partner for complex and technologically sophisticated projects. Currently, 80% of the company’s turnover is generated by projects outside Romania, which integrate new technologies in the field of artificial intelligence and big data. OVES Enterprise currently has almost 200 employees and collaborators and offices in Romania, Germany, the United Arab Emirates, Great Britain and the United States of America.