Romanian startup Licenseware, the app ecosystem of software license management, raised its second investment round, worth EUR 500,000.

Venture capital firm Early Game Ventures led the round, which saw the participation of Fortech Investments, a branch of Romanian software development services provider Fortech.

"I'm happy to say that, over the past six months since the initial pre-seed investment, Licenseware has gained the right level of traction to raise another round. This has been a result of our team's tremendous effort coupled with strong market validation," said Alex Cojocaru, co-founder and CEO of Licenseware. "Our initial round has given us enough fuel to reach the next stage in our evolution. Now it's time to take it up a notch. This second round will further accelerate our growth rate and allow us to properly expand in other markets such as the US and Australia."

"This next round will allow us to significantly accelerate our velocity furthermore, catalyzing the delivery of the solutions we and the ITAM community collectively believe to be the future of software license management," said Chris Allen, CSO and co-founder of Licenseware.

So far, Licenseware has focused on developing applications that support Oracle software licensing. Starting January 2022, it will release apps ready to support the dynamic licensing needs of Microsoft users. It also plans AI apps to help companies analyze software license contracts and blockchain-infused license management.

(Photo: Artur Szczybylo/ Dreamstime)

simona@romania-insider.com