XTRF has bought out its VC investors, Experior Venture Fund. The landmark transaction, which was announced yesterday (21/12/20), comes after several months of intense negotiations and was partially financed with a bank loan.
The news reflects the financial stability of the Krakow-based translation business management software firm in spite of what has been a rocky year and fourth quarter for many in the sector. This move enables the company to independently make and execute key decisions, and opens up a host of opportunities for 2021.
This latest announcement comes on the heels of a bumper year for XTRF, having achieved an impressive 99.99% uptime for onCloud services over the past twelve months. 2020 also saw the launch of the company’s own business intelligence solution (XTRF Business Barometer) and its own instant messenger (XTRF Chat).
What sets XTRF apart is the integral role client feedback plays in its strategic vision. In the past twelve months alone, apart from numerous features and upgrades the company has added no less than ten enhancements and client requested features from the pool discussed by clients on a dedicated Community and Feedback Management platform (User-Echo). The customization team has also built a total of seven additional custom applications to suit specific client needs.
“We’re very grateful to Experior Venture Fund for putting their trust in XTRF back in 2014, and for giving us the financial backing we needed to redefine our business goals and take the company to new heights,” says Andrzej Nedoma, CEO. “We’re now ready to take the reins and to continue to build on our recent success by listening to our clients and following the market shift to Distributed Collaboration Economy, which we actively support our clients in.”
For more information about XTRF please visit https://xtrf.eu/.
Established in 2010, XTRF is designed and developed by people who know the language industry inside out. We’re all too aware how stressful and tedious configuring multiple multilingual projects across various time zones can be—and that’s our secret weapon.
From seamless integration with industry-standard CAT tools, to built-in and feature-rich partner portals for customer and suppliers—our innovative platform covers all bases.
As one of the fastest-growing translation management systems on the market, we deliver immediate time and cost savings to over 350 translation companies, corporate language departments, and public organizations across the globe.