The new strategic collaboration confirms Bulb’s position as a regional technology leader in the segment of digitalization and automation of customer care processes
Bulb secured an investment worth 7 million euros thanks to the strategic partnership with M + Group, the largest independent BPTO service provider (Business Process and Information Technology Outsourcing) in Central and Eastern Europe and Asia Minor. This strategic partnership provides Bulb with both a strong partner and funding for further market growth and expansion. This strategic cooperation is a testament to the quality and reliability of Bulb, which over the past 15 years has positioned itself as a regional technology leader in the segment of digitalization and automation of customer care processes and customer experience management.
With its innovative Cempresso platform, whose long-standing customers include the leading telecom operators from this part of Europe, Bulb enables the complete digitization and automation of business processes focusing on customer support and communication with customers. Therefore, it is not surprising that both companies believe that this investment in Bulb’s development capabilities and products will enable the delivery of even more advanced solutions and strong international growth.
We believe that the result of this strategic cooperation between Bulb and M+ Group will be a significant acceleration of Bulbs’ development. Over the past period, Bulb has gained strong references in the regional market as a company that delivers advanced and reliable software solutions from the CEM segment. Strategic cooperation with the M+ Group, besides further financing of development activities, will empower us with access to international markets as well as direct access to over 260 existing clients in 58 global markets in which the M+ Group operates. In the next three to five years, apart from significant revenue growth, we are aiming that Bulb becomes a strong international software company, among the leaders in the process digitization and user experience management segment.
Vedran rezar, BULB CEO
In recent years, M + Group has pushed the boundaries in the segment of externalization of business processes and services through the introduction of artificial intelligence (AI) in customer and technical support and the use of machine learning (ML – machine learning), robotic process automation (RPA) and predictive analytics. Therefore, partnering with a strong company whose focus is precisely on developing such advanced solutions for customer and technical support is a natural fit and complements the portfolio of both Bulb and M + Group.
With this transaction, M + Group has also confirmed itself as the fastest growing business process and technology externalization company in the central and eastern parts of Europe and Asia Minor. We chose to invest in Bulb because of its leading customer experience software and digital communications capabilities. It is a natural partnership – Bulb’s products and services will enhance M+ Group’s business and offering as Bulb will benefit from the critical mass and market understanding of the leading BPTO operator. Further investment in Bulb’s development capabilities and product development capabilities will enable Bulb to deliver even more ambitious solutions for the benefit of all existing and new customers.
Darko horvat, PRESIDENT OF THE M+ GROUP MANAGEMENT BOARD
Furthermore, it is important to point out that South Central Ventures (Enterprise Innovation Fund – ENIF) led by Jure Mikuž has already invested significant funds in Bulb, while the London-based fund Mid Europa Partners has become a significant investor in M + Group with the aim of globalizing the business and leading in new technologies.
„Bulb is on an impressive journey to become one of the leading companies in the process automation industry in the region. We’re excited this value has been recognized by M+ Group and I believe the partnership between the companies will result in the accelerated growth of Bulb and consequently in an increased value for all the shareholders. South Central Ventures remains an active partner in the company and will assist the company on its future growth.“
Jure Mikuž, Managing Partner in the South Central Ventures fund.
