Groundbreaking Hungarian Data Company Starschema to Receive $5 Million Investment
Fanni Kaszás 2018.02.20.
Starschema Ltd, a Budapest-based tech company which offers help in the areas of big data, data visualization, data science and architecture for multinational companies to understand, analyze and efficiently use their data, will receive a $5 million USD domestic investment from PortfoLion’s Private Equity Fund, jointly owned by Hungarian banks OTP and Eximbank, to finance their international expansion.
This far from the beginning for the Hungarian tech company, as the world’s largest companies, including some of Silicon Valley’s biggest names, have already worked with Starschema: Apple, Facebook, Netflix, Walt Disney and Pepsi are all current or former clients.
According to the company’s recent press release, they deliver data-visualization solutions to their clients – such as Netflix – who get data from Starschema’s analysis which, in addition to viewership numbers, show the aging of the series or the willingness of the audience to continue their shows.
Last year, the firm’s revenue was 2.3 billion forints (7.4 million euros), 20% more than in 2016; in addition, 70% of its income came from overseas. They are on Inc. business magazine’s list of the most rapidly growing European companies, leading their category. The staff of the big data and business intelligence company has also grown from 150 to 180 people in 2017.
In addition to their expansion abroad, they would like to use the company’s knowledge in the domestic market. With Starschema’s help, the firm argues, the Hungarian multinational sector can also effficiently apply big data, artificial intelligence and cloud-based service technologies.