OVES Enterprise, a software development company from Cluj-Napoca, expands its international presence and opens, in Silicon Valley, in Palo Alto, the first office in the US. It is the fifth office opened outside the country in the last 11 months, with the company now having a regional presence in Germany (with two offices), the United Arab Emirates (Dubai), the UK and the US.
“The US is one of the most attractive areas for the development of IT projects. And we are talking here both about the financial side – the fees are 20-30% higher compared to the DACH area – and about the complexity and degree of innovation of the projects, arguments that motivate us and help us to evolve and build a better future good for everyone”, says Mihai Filip, CEO of OVES Enterprise, noting that the expansion in the US provides access to more important customers for which they can deliver larger, more complex projects.
The international expansion of OVES Enterprise aims, in the coming months, to be present in two new countries: Belgium and the Netherlands and to open a new office in New York.
Currently, over 80% of the company’s turnover is generated by business outside the country, with the UK office generating 45% and the two in Germany 30%.
“We estimate that, in the next 3 years, the US market will represent approximately 40% of OVES Enterprise’s turnover. With our presence here, it will be easier for us to develop the innovation projects we are working on, especially in the area of cyber security. We want to launch other new projects in the defense segment, projects that will find financing and development much easier in the US. It is important that we will be able to be in the same time zone as the customers, that we will be able to access new partnerships that require a presence in the US, to develop the product area and build an infrastructure to raise financing”, says Mihai Filip.
Investments in the international expansion will reach approximately 500,000 euros at the end of the year, of which 200,000 are invested in the opening of the office in Silicon Valley.
Last year, the turnover of OVES Enterprise increased 4 times, reaching approximately 14 million lei. In 2022, the company from Cluj-Napoca aims to at least double its revenues, the assumed target being 30 million lei.
OVES Enterprise is a Romanian software development company, established in 2015 in Cluj-Napoca. Starting in 2019, OVES’ strategy included offering more complex software development services for projects in the automotive, eCommerce, fintech, telecom, international government institutions, etc., the company becoming a technological partner for complex and technologically sophisticated projects. Currently, 80% of the company’s turnover is generated by projects outside Romania, which integrate new technologies in the field of artificial intelligence and big data. OVES Enterprise currently has 107 employees and offices in Romania, Germany, and the United Arab Emirates.