State gives HUF 240 mln boost to training software maker
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.