Moscow startup raised $1.1 million to help corporations manage issues “from origination to resolution”
Last month Russian fund Buran Venture Capital along with “a few business angels” invested 40 million rubles (approximately $1.1 million) in Moscow-based startup Dashboard Systems. The terms of the deal have not been disclosed and neither the startup nor the fund answered EWDN’s questions.
A resident of Skolkovo, the government-sponsored tech hub under completion on the outskirts of Moscow, 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.
While “very confident” about business prospects on the domestic market, Dashboard Systems founder and CEO Vladimir Bernstein also considers further expansion in neighboring countries as well as in western Europe.
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. Last year, Buran invested $1.5 million in Ponominalu.ru, an online provider of show tickets.