September 26 (SeeNews) - Beetroot Bulgaria, part of Swedish software services provider Beetroot, intends to grow its engineering workforce in the country to about 100 from 25 within the next two years, CEO Kamen Bochev told SeeNews.
Current processes are on track to bring the total headcount of the company to 40 by the end of this year, Bochev told SeeNews in an emailed interview at the end of last week.
Beetroot Bulgaria came into existence after the eponymous Swedish company acquired Sofia-based big data and digital transformation start-up South Gate Tech, previously headed by Bochev, for an undisclosed amount. The deal was completed in March.
The company's activities are centred on enabling digital start-ups and other businesses build sustainable IT teams to further the economic development of smaller urban areas, by meeting their needs for software and staff. The company facilitates technology projects in the areas of healthcare, renewable energy and education, with clients also hailing from the fintech, telecoms and media industries.
"Bulgaria was a logical next step for us as the market opportunities and people are a great culture and values match. We were looking to expand our presence and add EU delivery capabilities, and Bulgaria is a top contender in that regard," Bochev said.
Founded in 2012, the Swedish company has a total workforce of around 600 and operations at home as well as in Poland and Ukraine. It was set up with a social impact in mind, prioritising the creation of sustainable teams, emphasising care for society and the environment as a key driving force.
Beetroot said at the time of the acquisition of South Gate Tech that Bulgaria will be its second full-scale EU service centre, with Poland to follow in the near future.
According to Bochev, Beetroot Bulgaria is not targeting a rapid local expansion, but is rather hand-picking a team of engineers with the goal of solidifying its capabilities, expanding its activity scope and presence in Bulgaria before looking elsewhere in Southeast Europe.
"We are always keeping our finger on the pulse to identify new opportunities, especially if we come across companies and partners that share our vision and mindset. With that said, we are committed and have a strong focus on Bulgaria specifically – we know that there’s a risk of losing a sense of quality and people-oriented attitude if we spread our attention too widely. A successful “Bulgaria story”, with measurable impact, means that we’ll be better prepared for future expansions," Bochev explained.
Looking ahead, the consultancy sees itself opening a couple of Beetroot hubs around the country and locally launching Beetroot Academy, the company's Swedish-Ukrainian non-profit education arm.
In Ukraine, the Swedish parent company invested $50 million (51.7 million euro) in 2021, it said in a press release earlier this month.
($ = 1.03355 euro)