Webmedia Group, Estonian Software Development Company, Receives €7m Investment from EI

Webmedia Group, an Estonian software development company, will receive a €7m investment from Enterprise Investors (EI), a private equity and venture capital management firm focused on Central and Eastern Europe.

Following the investment, Enterprise Venture Fund I, the venture fund managed by Enterprise Investors, will take a 36% stake in the company.

The capital will enable the company to further expand abroad. Webmedia Group has a growing international customer base in Europe, Asia and Africa, with clients in 60 countries. The company’s international focus areas are public finance management, e-health and e-government solutions.

The company currently operates offices in Tartu, Tallinn and Narva, Estonia, in Vilnius and Kaunas, Lithuania, in Bucharest, Romania, and in Belgrade, Serbia.

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