Venture capital fund manager PortfoLion, a member of the OTP Group, Hungaryʼs biggest commercial lender, is investing USD 5 million in big data company Starschema, PortfoLion said yesterday, as reported by national news agency MTI.
Starschema said it will use the fresh capital to broaden its business and expand on international markets, mainly those in North America.
Starschema offers business intelligence, data warehousing, data science and data visualization solutions. About 70% of its orders are from foreign, mainly Fortune 500 companies. Starschema counts among its business partners Apple, Walt Disney, Pepsi, Facebook and Netflix.
Starschema had revenues of more than HUF 2.3 billion last year, up 20% from 2016. The company employs 180 people and is set to hire another 42.
OTP Bank and Magyar Eximbank are 50-50 partners in the HUF 10 bln PortfoLion Regional Private Equity Fund, noted MTI.