Catalyst Romania Successfully Exits 123FormBuilder Acquired by Kiteworks
Bucharest, 5th of September 2024
Catalyst Romania Fund I announces that Kiteworks has bought its portfolio company 123FormBuilder, a cloud-based platform that helps businesses create a variety of web forms and surveys without coding. This is yet another successful exit from Catalyst Romanian Fund I. Other exits include Vector Watch acquired by FitBit, which subsequently sold to Google, SmartBill acquired by Visma, Vola acquired by Resource Partners and Green Horse Games acquired by Miniclip, a Tencent subsidiary.
Catalyst Romania Fund I was the first early-stage venture capital Fund in Romania and was financed through EIF’s JEREMIE program (the JEREMIE Romania initiative). It invested in 10 well-known Romanian tech companies in recent years, including, AvocatNet.ro, Simartis, SmartDreamers or OmniConvert.
123FormBuilder develops easy-to-use form creation software for thousands of applications across various verticals. The Company initially targeted mainly English-speaking countries and has expanded into a multi-language offering, both for SMEs and enterprise clients by providing application design options, payment processing and regulatory compliant data management. Currently 35,000 users worldwide rely on 123FormBuilder’s cloud-based software that automates data collecting workflows using web forms and surveys.
“123FormBuilder was a key investment in Catalyst Fund I and we are proud to see the Company entering its next development phase, which confirms the success story of the business started in Timisoara, Romania. We are proud to have worked with co-founder and CEO, Florin Cornianu and the rest of the team, in helping 123FromBuilder grow. It’s impressive to see this Company be acquired by Kiteworks, a large global strategic player in the secure private content software vertical, who recently announced it has just closed a growth investment round of almost half a billion dollars, just before finalizing the acquisition of 123FormBuilder.” said Marius Ghenea, Managing Partner, Catalyst Romania.
“The Catalyst team helped a lot even before their investment in 123FormBuilder, and Marius and his colleagues supported us in good and in challenging times all these years, not only with investments, but also with guidance, know-how or networking. For me as co-founder/CEO this was extremely valuable and I wanted to give them my heartfelt thanks for that!” added Florin Cornianu, CEO of 123FormBuilder.
About Catalyst Romania
Catalyst Romania is a fund manager that launched the first private equity and venture capital fund dedicated to Romania in 2012, funded through JEREMIE. The fund manager prioritizes investments in rapidly growing sectors, including Technology & Internet, Media & Communications, and Technology Enabled Services. The fund provides early-stage funding and expansion capital to companies that have the potential to become regional leaders or global players. For more information, please visit catalystromania.com.
About Jeremie
JEREMIE (“Joint European Resources for Micro to Medium Enterprises” or “Joint European Resources for Micro to medium Enterprises in”) was a joint initiative of the Directorate-General for Regional Policy of the European Commission and the European Investment Bank Group (which includes European Investment Fund), which aimed to improve access to finance for SMEs in the European Union. In Romania, the JEREMIE Holding Fund was initially financed by the Sectoral Operational Program “Increase of Economic Competitiveness” 2007-2013. Since 2020, the reflows from the JEREMIE initiative continue to be managed by EIF and to be utilized for financing new SMEs.
About 123FormBuilder
123FormBuilder is a cloud-based platform that allows customers to digitize and automate their data collection workflows through online forms and surveys. Users can securely collect data and payments while integrating forms with the other apps in their toolkit, such as Salesforce. Headquartered in Timisoara, Romania, 123FormBuilder is trusted by 35,000 customers globally, from small businesses to large enterprises.
About Kiteworks
Kiteworks’ mission is to empower organizations to effectively manage risk in every send, share, receive, and save of sensitive content. Kiteworks platform provides customers with a Private Content Network that delivers content governance, compliance, and protection. The platform unifies, tracks, controls, and secures sensitive content moving within, into, and out of their organization, significantly improving risk management and ensuring regulatory compliance on all sensitive content communications. Headquartered in Silicon Valley, Kiteworks protects over 100 million end users for thousands of global enterprises and government agencies.