Eleven Ventures

Eleven Ventures is a venture capital firm based in Sofia, Bulgaria, specializing in early-stage investments, particularly in technology companies across Southeast Europe. Founded in 2012, the firm focuses on sectors such as Fintech, HealthTech, eCommerce, Future of Food, Future of Work, software tools, consumer products, Sportstech, ERP, gaming, Adtech, Mobility, and Home Automation. Eleven Ventures does not invest in not-for-profit projects and instead targets companies that have a legal entity in Bulgaria and are expected to participate in a three-month acceleration program. The firm typically invests between €0.025 million and €0.5 million, taking minority stakes ranging from 6% to 30% depending on the stage of investment. In addition to funding, Eleven Ventures offers office accommodation, back office services, and access to over €0.1 million in free deals from technology service providers. Each quarter, the firm accepts 10-15 teams into its mentor-led program, providing strategic support and follow-on funding opportunities for companies with fully developed products.

Elena Ivanova

Platform Associate

Belizar Marinov

Investment Associate

Veselina Markova

Investment Principal

Collin Mazgaloff

Investment Associate

Viktor Minchev

Investment Associate

Martin Ouzounov

COO

Valeri Petrov

Partner

Ivaylo Simov

Partner

Gergana Stoitchkova

Investment Associate

Daniel Tomov

Partner

Past deals in SME

Rush

Seed Round in 2022
SaaS, Shopify App, E-Commerce.

MClimate

Seed Round in 2020
MClimate is an IoT company based in Sofia, Bulgaria, specializing in the design and development of affordable, universally compatible smart home and building automation solutions. Founded in 2015, the company focuses on enhancing comfort, security, and energy efficiency through its diverse product portfolio, which includes A/C controllers, water heater controllers, radiator controllers, smart outlets, and various detection devices for motion, water leakage, and window/door status. MClimate aims to make home automation accessible to all, emphasizing the importance of digital, connected, and low carbon footprint solutions. The company has successfully implemented numerous projects in Smart City and Smart Building initiatives worldwide, utilizing advanced technologies such as LoRaWAN to retrofit traditional appliances and enable remote monitoring and control via a dedicated app.

Escreo

Seed Round in 2020
Escreo, founded in April 2015 and based in Sofia, Bulgaria, specializes in innovative paint solutions that transform ordinary surfaces into writable and drawable areas. The company manufactures a range of carbon dioxide-neutral paints, including whiteboard and magnetic options, which cater to diverse environments such as offices, classrooms, and homes. These products allow users to create customizable and reusable writing surfaces, facilitating collaboration, brainstorming, and planning. Through its offerings, Escreo aims to enhance creativity and communication in various settings.

Metrilo

Seed Round in 2020
Metrilo LTD. is a company that specializes in providing analytics and marketing automation solutions for e-commerce websites. Founded in 2014 and based in Sofia, Bulgaria, Metrilo helps online retailers understand customer behavior by offering insights into revenue, purchases, visitor statistics, and conversion rates. Its platform includes e-commerce analytics, customer relationship management, and email marketing services, all designed to enhance the performance of online stores. By focusing on customer analysis, Metrilo enables businesses to better meet customer demands and improve their overall revenue and conversion metrics, ensuring that the right products reach the right customers effectively.

smartocto

Seed Round in 2020
smartocto is a company aiming to maximizing content strategies for media and content marketing brands.

Escreo

Secondary Market in 2019
Escreo, founded in April 2015 and based in Sofia, Bulgaria, specializes in innovative paint solutions that transform ordinary surfaces into writable and drawable areas. The company manufactures a range of carbon dioxide-neutral paints, including whiteboard and magnetic options, which cater to diverse environments such as offices, classrooms, and homes. These products allow users to create customizable and reusable writing surfaces, facilitating collaboration, brainstorming, and planning. Through its offerings, Escreo aims to enhance creativity and communication in various settings.

A4Everyone

Seed Round in 2019
A4Everyone specializes in providing affordable analytical solutions aimed at enhancing the efficiency of small and medium-sized businesses. Recognizing that many organizations struggle to leverage their data effectively due to concerns about cost and complexity, A4Everyone simplifies the process of data analysis. The company harnesses advanced computing resources, enabling businesses to utilize powerful analytical tools with minimal effort. With a strong foundation in the science of analytics, A4Everyone is committed to making data-driven decision-making accessible to organizations of all sizes, ensuring that even smaller entities can benefit from the advantages of sophisticated data analysis.

SMSBump

Seed Round in 2018
SMSBump is a comprehensive SMS marketing solution tailored for eCommerce brands. The platform enables online store owners to enhance sales and customer lifetime value by facilitating personalized SMS marketing campaigns. Users can accurately track and analyze campaign results, optimizing messages for improved link click-through rates. This service allows businesses to establish direct and personal communication with their customers through text messaging, thereby fostering better engagement and potentially driving higher conversion rates.

Metrilo

Seed Round in 2015
Metrilo LTD. is a company that specializes in providing analytics and marketing automation solutions for e-commerce websites. Founded in 2014 and based in Sofia, Bulgaria, Metrilo helps online retailers understand customer behavior by offering insights into revenue, purchases, visitor statistics, and conversion rates. Its platform includes e-commerce analytics, customer relationship management, and email marketing services, all designed to enhance the performance of online stores. By focusing on customer analysis, Metrilo enables businesses to better meet customer demands and improve their overall revenue and conversion metrics, ensuring that the right products reach the right customers effectively.

Mali junaki

Seed Round in 2015
Mali junaki are personalized books for children and currently operate in Slovenia.

Scoutee

Convertible Note in 2015
Scoutee is a pioneering company that has developed the world's first smart speed radar designed to enhance athletic performance and support sports careers. This innovative device provides reliable and accurate ball speed measurements and is connected to a cloud-based application accessible via smartphones and tablets. Users benefit from features such as video recording, historical data tracking, and video analysis with training suggestions. The platform allows athletes, parents, coaches, and scouts to monitor progress and showcase talent effectively. By syncing acquired data and videos with individual player profiles in the cloud, Scoutee aims to transform how athletes track their development and improve their gameplay experience.

Escreo

Convertible Note in 2015
Escreo, founded in April 2015 and based in Sofia, Bulgaria, specializes in innovative paint solutions that transform ordinary surfaces into writable and drawable areas. The company manufactures a range of carbon dioxide-neutral paints, including whiteboard and magnetic options, which cater to diverse environments such as offices, classrooms, and homes. These products allow users to create customizable and reusable writing surfaces, facilitating collaboration, brainstorming, and planning. Through its offerings, Escreo aims to enhance creativity and communication in various settings.

A4Everyone

Seed Round in 2015
A4Everyone specializes in providing affordable analytical solutions aimed at enhancing the efficiency of small and medium-sized businesses. Recognizing that many organizations struggle to leverage their data effectively due to concerns about cost and complexity, A4Everyone simplifies the process of data analysis. The company harnesses advanced computing resources, enabling businesses to utilize powerful analytical tools with minimal effort. With a strong foundation in the science of analytics, A4Everyone is committed to making data-driven decision-making accessible to organizations of all sizes, ensuring that even smaller entities can benefit from the advantages of sophisticated data analysis.

BusinesSoft

Seed Round in 2015
BusinesSoft Ltd. is a leading software company in Bulgaria, established in 1991 and headquartered in Sofia. The company specializes in the development, implementation, and maintenance of enterprise management systems (ERP) tailored for various industries. Its product offerings include WorkStream.Production, an integrated ERP system for process industries; WorkStream.Construction, designed for infrastructure and construction projects; and BusinesSoft Building, a tool for managing construction site calculations and planning. Additionally, BusinesSoft provides Building.Cloud, a Software-as-a-Service ERP solution, and WorkFlow, which enhances information flow across enterprise functions like accounting, inventory, and logistics. The HRManager system assists in personnel management, salary calculations, and external relations. BusinesSoft serves a diverse clientele, including small private companies, large corporations, and government institutions across sectors such as construction, industry, and commerce, boasting over 4,000 clients throughout Bulgaria.

MClimate

Seed Round in 2015
MClimate is an IoT company based in Sofia, Bulgaria, specializing in the design and development of affordable, universally compatible smart home and building automation solutions. Founded in 2015, the company focuses on enhancing comfort, security, and energy efficiency through its diverse product portfolio, which includes A/C controllers, water heater controllers, radiator controllers, smart outlets, and various detection devices for motion, water leakage, and window/door status. MClimate aims to make home automation accessible to all, emphasizing the importance of digital, connected, and low carbon footprint solutions. The company has successfully implemented numerous projects in Smart City and Smart Building initiatives worldwide, utilizing advanced technologies such as LoRaWAN to retrofit traditional appliances and enable remote monitoring and control via a dedicated app.

Escreo

Seed Round in 2015
Escreo, founded in April 2015 and based in Sofia, Bulgaria, specializes in innovative paint solutions that transform ordinary surfaces into writable and drawable areas. The company manufactures a range of carbon dioxide-neutral paints, including whiteboard and magnetic options, which cater to diverse environments such as offices, classrooms, and homes. These products allow users to create customizable and reusable writing surfaces, facilitating collaboration, brainstorming, and planning. Through its offerings, Escreo aims to enhance creativity and communication in various settings.

Metrilo

Seed Round in 2015
Metrilo LTD. is a company that specializes in providing analytics and marketing automation solutions for e-commerce websites. Founded in 2014 and based in Sofia, Bulgaria, Metrilo helps online retailers understand customer behavior by offering insights into revenue, purchases, visitor statistics, and conversion rates. Its platform includes e-commerce analytics, customer relationship management, and email marketing services, all designed to enhance the performance of online stores. By focusing on customer analysis, Metrilo enables businesses to better meet customer demands and improve their overall revenue and conversion metrics, ensuring that the right products reach the right customers effectively.

Scoutee

Convertible Note in 2015
Scoutee is a pioneering company that has developed the world's first smart speed radar designed to enhance athletic performance and support sports careers. This innovative device provides reliable and accurate ball speed measurements and is connected to a cloud-based application accessible via smartphones and tablets. Users benefit from features such as video recording, historical data tracking, and video analysis with training suggestions. The platform allows athletes, parents, coaches, and scouts to monitor progress and showcase talent effectively. By syncing acquired data and videos with individual player profiles in the cloud, Scoutee aims to transform how athletes track their development and improve their gameplay experience.

Metrilo

Convertible Note in 2015
Metrilo LTD. is a company that specializes in providing analytics and marketing automation solutions for e-commerce websites. Founded in 2014 and based in Sofia, Bulgaria, Metrilo helps online retailers understand customer behavior by offering insights into revenue, purchases, visitor statistics, and conversion rates. Its platform includes e-commerce analytics, customer relationship management, and email marketing services, all designed to enhance the performance of online stores. By focusing on customer analysis, Metrilo enables businesses to better meet customer demands and improve their overall revenue and conversion metrics, ensuring that the right products reach the right customers effectively.

MClimate

Seed Round in 2015
MClimate is an IoT company based in Sofia, Bulgaria, specializing in the design and development of affordable, universally compatible smart home and building automation solutions. Founded in 2015, the company focuses on enhancing comfort, security, and energy efficiency through its diverse product portfolio, which includes A/C controllers, water heater controllers, radiator controllers, smart outlets, and various detection devices for motion, water leakage, and window/door status. MClimate aims to make home automation accessible to all, emphasizing the importance of digital, connected, and low carbon footprint solutions. The company has successfully implemented numerous projects in Smart City and Smart Building initiatives worldwide, utilizing advanced technologies such as LoRaWAN to retrofit traditional appliances and enable remote monitoring and control via a dedicated app.

MaistorPlus

Convertible Note in 2015
MaistorPlus operates an online platform to bring craftsmen and homeowners together. It features homeowners and tradesmen profiles where homeowners post job on the website and also leave feedbacks after the job is done. The company was founded in 2012 and is based in Sofia, Bulgaria.

Scoutee

Seed Round in 2015
Scoutee is a pioneering company that has developed the world's first smart speed radar designed to enhance athletic performance and support sports careers. This innovative device provides reliable and accurate ball speed measurements and is connected to a cloud-based application accessible via smartphones and tablets. Users benefit from features such as video recording, historical data tracking, and video analysis with training suggestions. The platform allows athletes, parents, coaches, and scouts to monitor progress and showcase talent effectively. By syncing acquired data and videos with individual player profiles in the cloud, Scoutee aims to transform how athletes track their development and improve their gameplay experience.

Edgar

Seed Round in 2014
Edgar is a curated platform designed to empower brands, particularly small and medium-sized businesses, by connecting them with top creatives such as brand storytellers, writers, and illustrators. The company believes in the power of storytelling over traditional advertising budgets, encouraging brands to engage their audiences through compelling content. Edgar offers a range of tools and services, including strategy, management, creation, and distribution of content tailored to each customer’s needs. Their platform, StoryMarket, features a diverse selection of storytellers from around the world who can craft unique brand narratives. Additionally, Edgar provides StoryCrafter, a tool that enables brands to create short, interactive visual stories with ease. This feature allows users to incorporate various media types and includes calls to action, helping brands connect directly with potential customers. By fostering a community of freelance storytellers and inspiring content, Edgar helps brands not only attract but also convert customers into loyal fans.

MClimate

Seed Round in 2014
MClimate is an IoT company based in Sofia, Bulgaria, specializing in the design and development of affordable, universally compatible smart home and building automation solutions. Founded in 2015, the company focuses on enhancing comfort, security, and energy efficiency through its diverse product portfolio, which includes A/C controllers, water heater controllers, radiator controllers, smart outlets, and various detection devices for motion, water leakage, and window/door status. MClimate aims to make home automation accessible to all, emphasizing the importance of digital, connected, and low carbon footprint solutions. The company has successfully implemented numerous projects in Smart City and Smart Building initiatives worldwide, utilizing advanced technologies such as LoRaWAN to retrofit traditional appliances and enable remote monitoring and control via a dedicated app.

Metrilo

Seed Round in 2014
Metrilo LTD. is a company that specializes in providing analytics and marketing automation solutions for e-commerce websites. Founded in 2014 and based in Sofia, Bulgaria, Metrilo helps online retailers understand customer behavior by offering insights into revenue, purchases, visitor statistics, and conversion rates. Its platform includes e-commerce analytics, customer relationship management, and email marketing services, all designed to enhance the performance of online stores. By focusing on customer analysis, Metrilo enables businesses to better meet customer demands and improve their overall revenue and conversion metrics, ensuring that the right products reach the right customers effectively.

inSelly

Seed Round in 2014
Inselly, SIA operates an online marketplace specifically designed for Instagram, facilitating e-commerce by connecting buyers and sellers across various product categories, including fashion, accessories, jewelry, home goods, beauty products, and collectibles. Established in 2014 and headquartered in Riga, Latvia, inSelly offers a user-friendly platform that allows Instagram users to easily discover and purchase items, as well as sell their own products by using a specific hashtag. The marketplace enhances the shopping experience by enabling users to sort sales offers according to various criteria, thereby providing a customized search experience. With both mobile and desktop versions available, inSelly aims to tap into the growing trend of social shopping, supporting users in their buying and selling endeavors while offering services in English and Russian.

Edgar

Seed Round in 2014
Edgar is a curated platform designed to empower brands, particularly small and medium-sized businesses, by connecting them with top creatives such as brand storytellers, writers, and illustrators. The company believes in the power of storytelling over traditional advertising budgets, encouraging brands to engage their audiences through compelling content. Edgar offers a range of tools and services, including strategy, management, creation, and distribution of content tailored to each customer’s needs. Their platform, StoryMarket, features a diverse selection of storytellers from around the world who can craft unique brand narratives. Additionally, Edgar provides StoryCrafter, a tool that enables brands to create short, interactive visual stories with ease. This feature allows users to incorporate various media types and includes calls to action, helping brands connect directly with potential customers. By fostering a community of freelance storytellers and inspiring content, Edgar helps brands not only attract but also convert customers into loyal fans.

inSelly

Seed Round in 2013
Inselly, SIA operates an online marketplace specifically designed for Instagram, facilitating e-commerce by connecting buyers and sellers across various product categories, including fashion, accessories, jewelry, home goods, beauty products, and collectibles. Established in 2014 and headquartered in Riga, Latvia, inSelly offers a user-friendly platform that allows Instagram users to easily discover and purchase items, as well as sell their own products by using a specific hashtag. The marketplace enhances the shopping experience by enabling users to sort sales offers according to various criteria, thereby providing a customized search experience. With both mobile and desktop versions available, inSelly aims to tap into the growing trend of social shopping, supporting users in their buying and selling endeavors while offering services in English and Russian.

MaistorPlus

Seed Round in 2013
MaistorPlus operates an online platform to bring craftsmen and homeowners together. It features homeowners and tradesmen profiles where homeowners post job on the website and also leave feedbacks after the job is done. The company was founded in 2012 and is based in Sofia, Bulgaria.

Squee

Seed Round in 2013
Squee is a mobile application designed for iOS that aims to foster a community of designers by providing daily updates on product design. The platform serves as a space for users to share and discover images of custom-designed products, facilitating microblogging and the creation of design-focused magazines. Squee's mission is to promote and monetize designers' creativity while supporting emerging talents in bringing their product ideas to fruition. By curating inspiring design content, Squee enables designers to connect, collaborate, and showcase their work effectively.

Soundvamp

Seed Round in 2013
Social integration for performers and music fans

Squee

Seed Round in 2013
Squee is a mobile application designed for iOS that aims to foster a community of designers by providing daily updates on product design. The platform serves as a space for users to share and discover images of custom-designed products, facilitating microblogging and the creation of design-focused magazines. Squee's mission is to promote and monetize designers' creativity while supporting emerging talents in bringing their product ideas to fruition. By curating inspiring design content, Squee enables designers to connect, collaborate, and showcase their work effectively.

Soundvamp

Seed Round in 2013
Social integration for performers and music fans

MaistorPlus

Seed Round in 2012
MaistorPlus operates an online platform to bring craftsmen and homeowners together. It features homeowners and tradesmen profiles where homeowners post job on the website and also leave feedbacks after the job is done. The company was founded in 2012 and is based in Sofia, Bulgaria.
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