04 Mar Hottest Business Startups in Hungary
Hungary is a startup hub on the rise. You’ve no doubt already heard of Prezi, the country’s first unicorn, which ended the reign of boring presentations globally by making them more engaging and interactive. The company now has over 100 million users, raised $72.8 million in funding and made its first acquisition in 2017. While not the first Hungarian born startup, Prezis success ignited the growth of an innovative startup scene.
In the year Prezi was founded, 2009, the country already had its first English language workshop for aspiring entrepreneurs, the Venture Accelerator Course, and its First Monday events which started bringing together Hungarys small pioneering startup community. Since then a number of new accelerator programs, innovation labs, homegrown VCs and, of course, hot new startups began springing up. The combination of a fast-growing ecosystem and its first success story have catapulted Hungary onto the international tech scene.
With lower costs of living and a growing talent pool of developers, the country is quickly becoming a more attractive startup destination for founders than more established and highly competitive hubs like London and Berlin. For fresh new ideas and cutting edge tech, its time to set our sights on Budapest.
Selecting the hottest young scale-ups in Europe
Together with payments tech company Adyen, we set out in search of the most promising new startups based on their performance, growth, and potential. The top-5 from each country will join the Tech5, a community of the hottest young tech companies in Europe and Israel. This years newcomers will then join us at the exclusive Founders Day (May 8) and TNW Conference (May 9-10) in Amsterdam.
Today we highlight Hungary. We did our research, consulted with our advisory consortium of 100 investors, influencers, entrepreneurs and experts across Europe and selected the five hottest young Hungarian scale-ups.
Find out who Hungary’s hottest young scale-ups are:
If youre a mobile developer Bitrise will be the one tool you cant live without. This Platform as a Service cuts down hours by automating tasks in the access control, building, testing and deployment stages. Bitrises open source library is like a virtual Disneyland for mobile developers everywhere with 180+ integrations to choose from. The technology is now being used by brands such as Virgin Music, Careem and Buffer. Whats more, this Y Combinator-backed startup has already raised a $3.2 million Series A funding round. Keep your developers happy and sane by cutting out tedious, repetitive tasks and letting them focus on innovation instead.
SignAll is here to change the lives of people who are deaf and hard of hearing. Their technology is able to translate American Sign Language (ASL) to English and vice versa. This has the potential to revolutionize lives by eliminating communication barriers and hence improving the employability and general quality of life of the deaf workforce. SignAll finished their product development and installed the Worlds first automated sign language translation system in Washington DC to enable spontaneous communication between deaf and hearing folks anytime, even without an interpreter. This is the first system of its kind thats actually in use. Last year, SignAll won the CTA Foundations accessibility award at CES Las Vegas.
If youre like us, your business depends on your users and readers. We always want to provide the best and most relevant information to our faithful bunch of tech enthusiasts which is why we need good insights into how they navigate to our articles and from which websites. Springtap provides its user with exactly that. It collects data from social media sites and presents the results to its users in a neat and comprehensive manner. The company has been experiencing great traction and was backed by both Hungarys Renewal EU fund as well as the New Szchenyi Plan initiative, which aims to improve Hungarys competitiveness in the global market. Springtab is auto-personalizing the changing landscape of mass communication.
Tresorit is a cloud encryption company which provides a secure and user-friendly file sync & sharing service. Tresorits built-in, end-to-end encryption helps businesses keep confidential information safe and comply with data protection regulations like GDPR. Due to its zero-knowledge encryption technology and unique encryption key management, Tresorit can guarantee on-premise equivalent security for businesses while offering consumer-grade simplicity. With Tresorit, users can access files safely from anywhere and easily collaborate across offices or with clients. Building on the rising demand for secure cloud solutions that protect against data breaches, Tresorit has experienced impressive growth scaling from 60 to 100 employees in just one year and raising over $18.1 million. Last year, Tresorit also launched a standalone end-to-end encrypted file sharing service, Tresorit Send (send.tresorit.com), to offer a secure alternative to unreliable file transfer sites and email attachments. Founded in 2011, the company now serves more than 25.000+ customers globally, including leading enterprises both in Europe and North America.
WebShippy is the one stop shop for all the logistics systems of your online store. On their platform, you can arrange to store your products, professionally pack your orders, invoice them in your name and deliver them to your customers both at home and abroad. So you can use all the time you would have spent on logistics focusing on growth. Now, although Webshippy is a young company (founded in 2016), its seen impressive traction from the beginning. They grew their team from 5 to 35 employees, they now work with over 190 clients and send out more than 30k orders per month. Now how is that for growth?