Fresh Solutions, a St. Petersburg-based publisher of cloud-based CRM solutions, has secured 37 million rubles (a little more than $1.1 million) from Imperious Group. The startup was valued at $6 million pre-money, East-West Digital News learned from the press service of Ingria, the major St. Petersburg technopark that incubates the startup.
Founded in 2011, Fresh Solutions completed two seed funding rounds – for $80,000 and $160,000, respectively – in its first year of activity. It also received two grants from the Microsoft BizSpark program.
The startup generated $400,000 in revenues in 2012, up from $50,000 in 2011. This year, its sales are expected to reach or exceed $700,000, Ingria’s press service reported to EWDN.
The new funding will be directed at strengthening the company’s position on the Russian market – where it competes with such established players as BPMonline and Bitrix – and launching its FreshOffice product in Southeast Asia, Central America and Latin America.
This transaction marks the 15th investment in Ingria startups this year.
Imperious Group is a Moscow-based fund, whose initial capital comes from real estate. It invests in the Internet, mobile apps and e-commerce sectors in Russia, Ukraine and the USA. Earlier this year, it injected $200,000 in Blabroom, another resident company of Ingria, which has developed a dating website for shy people.
