The alumni-led Transmetrics has recently attracted 550, 000 BGN from private investors and this is the fifth external funding for the software company, the influential business newspaper “Capital” recently wrote.
Founded in 2013, Transmetrics has already won 14 international startup awards, including Forbes Best Startup, has raised over a million Euros and has grown to have almost 20 employees.
Transmetrics offers a Big Data predictive analytics solution to logistics companies and helps them improve their efficiency and reduce their costs.
“Large transport companies work on a complicated fixed schedule of transport departures, because otherwise it will not be possible, for example, to pick up your shipment in New York today and deliver it in Blagoevgrad tomorrow,” Asparuh Koev, AUBG class of 1998 and co-founder and CEO of Transmetrics, explained. “A good forecast gives you a chance to work now on the schedule for next week, for example, where changes are still possible.”
The idea behind Transmetrics is attractive to investors and impresses competition juries “because it combines a very large, directly addressable market with a difficult-to-copy product, which is differentiated by a lot of industry knowledge and a big volume of research,” Koev said.
Transmetrics is currently negotiating partnerships with renowned international customers and will soon reach the milestone of 20 people working at the startup.
The company has hired AUBG alumni every year. “People at AUBG tend to score better in the areas of personal values, communication skills and work ethics,” Koev said. “Even now [we] have one summer internship which we hope could grow into a full-time position after the person graduates.”
Koev himself began his career path while still a student at AUBG. At the university, “we had a really good community of computer geeks who tended to stick together,” he said. “Then that community turned into a real software company – WizCom (Sciant).”
Koev joined WizCom during his third year at AUBG and in just a few years the company had over 50 employees, was developing computer games and software design tools and had customers such as Ford Motor Company for which they created software for Formula 1.
“[At WizCom,] I went through all the ranks, from software developer through project manager, to president and board member,” Koev said. “Actually everyone who got in the company early enough went through impressive career growth. Joining a young growing company is one of the best shortcuts to personal growth, and among the most honest of them.”
Story by Dimana Doneva
Photo Courtesy of Transmetrics
Article reprinted with permission.
Originally published on AUBG website.