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State gives HUF 240 mln boost to training software maker

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The Széchenyi Capital Investment Fund (SZTA), a venture capital fund established by the state to support SMEs, has injected HUF 240 million into Analogy Zrt, which makes workplace training solution Practify, SZTA revealed today, according to Hungarian news agency MTI.

Analogy plans to expand abroad based on growing demand for Practify in Western Europe. The company will use the fresh funding to establish a development center in Győr, further improve its software and finance international expansion.

It targets Ireland, the UK and German-speaking markets in the short term, and the United States in the mid-term. Analogy aims to add at least 30 people to its staff within two years.  

SZTA noted that the global corporate training market is worth an annual USD 140 billion.

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