Bulgarian Founder Who Has Worked With The Pentagon Raises €2.3M From Endeavor Network
The Pentagon, Financial Time, Disney, Microsoft, IBM, and AWS – these are some of the organizations that use the products of the Bulgarian company Tiger Technology. It develops high-performing solutions for data, files and workflow management for the media, IT industry and surveillance, and is now ready to make the next step. Well established in the media industry because of the first product that allows access and editing of large files in the cloud from different points, the founder Alexander Lefterov has just closed a €2.3M round to penetrate also the IT sector. The funding will be used to further develop his new product that connects local and cloud file structures in a way that provides the ability to build efficient hybrid processes.
Since 2018, Alexander Lefterov is part of the global entrepreneurial network Endeavor, and this is where the funding mostly comes from. The round is led by Endeavor Bulgaria’s board member and Telelink founder Lyubomir Minchev and entrepreneur Dimitar Rachev.
“We are excited to take this step forward in the development of Tiger Technology, which will allow us to grow even faster and to invest in the sales of our new product” says Alexander Lefterov in an official announcement. Lefterov has a long entrepreneurial history, and coincidently at some point was running the only company in the world to provide the specific file management product which put such famous brands and names on Tiger’s portfolio.
Tiger’s founder has proven traction on the international market and works with recognized names on the market today. Before founding Tiger, Lefterov already had an entrepreneurial background – he has successfully developed and exited two technology businesses. His first venture Atia that developed a project collaboration software was acquired in 2000 by the multinational public software corporation Autodesk. His next product was related to the media industry, alleviating pains related to the management of heavy volumes of rich media. From there Lefterov and his team started Intelligent Gadgets, a California-based startup, developing a remote collaboration software, which got acquired in 2007 by CallWave, a US-listed company that later turned private and rebranded to Fuzebox.
Lefterov’s current venture in a way combines all his previous experience and contacts. The company offers high-performance software and hardware solutions for other areas – monitoring and IT. With its latest development, Tiger Bridge, the company makes it possible to connect local and cloud file structures in a way that provides the ability to build efficient hybrid processes. Tiger Bridge is already used by global leaders such as Microsoft, IBM, HP, and AWS, the company states.
This new funding will be used to further scale the product in the US, which is its primary market. His company is the first one to raise a round from the local Endeavor network. “The Endeavor network turned out to play a key role not only for raising capital, but also for the business development and the growth of the company in the past year,” comment Lefterov.
As Endeavor usually accepts only companies that are at the inflection point before they start growing exponentially, it’s interesting how Tiger’s business will develop in the next months.
Stay tuned for a deep dive in Lefterov’s entrepreneurial story next week.
An interview with Momchil Vassilev, CEO Endeavor Bulgaria: Bulgaria is a great market for companies looking for seed funding