January 3 (SeeNews) - Romanian software start-up Licenseware plans in the next twelve months to expand its operations to North and South America, in addition to the European markets where it is already present, CEO Alex Cojocaru told SeeNews.
The company will build an international sales team which will allow it to enter the new markets and achieve its goal of 100,000 euro ($105,360) in monthly recurring revenue (MRR), Cojocaru said on Monday in response to a SeeNews request for information.
"A large part of the capital raised in the last investment round will be dedicated exclusively to sales and marketing activities" the company's CEO.
At the end of November, Licenseware raised 1 million euro from investors in a funding round led by venture capital firm Early Game Ventures.
Licenseware is a Romanian start-up, established in 2020. Initially built around the Oracle software, the company provides software solutions for enterprises.
($=0.9491 euro)