DataArt, a global technology consultancy that designs and develops software solutions, raised an equity funding round of undisclosed amount.
German development finance institution DEG co-invested in the company alongside DFI-backed Da Vinci Capital.
The company intends to use the funds to increase its IT engineering capacity in emerging markets.
With 22 locations in the U.S., Europe, and Latin America, DataArt employs over 2,800 professionals with the majority located in Eastern Europe. The company is known for its recruiting system and deep expertise in several key industry sectors, including finance, healthcare, travel and media.
Clients include major global brands such as MeetUp, Nasdaq, Ocado and TravelPort.
Led by President Eugene Goland, DataArt achieved a record annual revenue of $140 million in 2018 with a compound annual growth rate of over 25% for a decade.