Dashboard Systems, a Russian corporate software publisher, has raised “more than 100 million rubles” (approximately $2 million at the current exchange rate) from Russian IT firm LANIT and fund Buran Venture Capital, Vedomosti reported last week. Dashboard Systems founder Vladimir Bernstein told the business daily that both companies will receive a blocking stake in the company, but did not disclose other details.
Dashboard Systems presents its solution as “the first system in the world to facilitate management of corporate problems from origination to resolution.”
Intended essentially for corporate boards and executive committees as well as government organs, the solution aims to automate what it calls “issue workflow,” from the generation or examination of a question at the board level, on to task assignment and control, then through document production and updates until the issue is finally resolved.
Buran already invested $1 million Dashboard Systems earlier this year along with a few business angels. Buran’s stake will not increase as a result of the latest deal due to an increase in the company’s valuation, said Bernstein.
LANIT may integrate BoardMaps with its own solutions for document management.
Dashboard Systems’ reported reported sales amounts to 18.6 million rubles in 2013 (approximately $580,000 at last year’s average exchange rate), according to Bernstein. Its clients include Alfa Bank, Credit Bank of Moscow, the Moscow Exchange, mobile operator MTS and payment operator Qiwi. The company is a resident of the Skolkovo, the international tech hub under completion on the outskirts of Moscow.
Buran Venture Capital was founded in Moscow in 2010 “to invest $50 million over the course of the next 4-5 years” in Russia, the CIS and Israel. Among the fund’s limited partners is Mikhail Vinchel, one of Mail.ru Group’s founders. The fund targets early-stage e-commerce, online media, mobile Internet, communitainment, and SaaS projects, investing anything between $300,000 and $3 million in each young company.
