Certifier, a dynamic Polish startup specializing in digital credential software, has achieved a remarkable feat by securing over $700K in seed funding. This funding round has garnered support from prominent investors like Movens Capital, FundingBox Deep Tech Fund, DEPO Ventures, and Black Pearls VC, renowned for backing companies such as Tapline, Autenti, and the unicorn GoCardless.
The digital credentials software market, encompassing diplomas, certificates, and badges, currently boasts an estimated global worth of $1.6 billion, with projections indicating exponential growth to surpass $6 billion by 2033. Certifier, headquartered in Poland, has set its sights on becoming the leading player in digital credential management software within the next five years.
As part of this groundbreaking deal, investors retain the option to double their capital commitment in the upcoming months. Certifier's strategic plan involves substantial investments in product development, with a focus on constructing an API-first platform.
Founded in 2021 by Ukrainian entrepreneurs Sergey Butko and Vlad Turak, Certifier has already onboarded over 400 business customers, including renowned names like Avon Canada, University of Illinois, and Oxford School District.
The Krakow-based company offers a SaaS-based digital credential infrastructure platform driven by APIs, designed for the issuance of certificates, diplomas, and digital badges. This versatile system streamlines the entire certification process, from document creation to process management, distribution, analysis, and secure hosting.
Notably, prior to launching Certifier, co-founders Vlad Turak and Sergey Butko had made their mark in the entrepreneurial landscape. Vlad Turak, the creator of one of Ukraine's top educational portals for school children, attracted a substantial monthly audience of over 1 million visitors. Meanwhile, Sergey Butko co-founded CallPage, a successful startup that raised $4.5 million in funding and was later acquired by a prominent US tech company in 2021.
"Digitization doesn't mean that the desire for recognition will disappear. Recognition remains a fundamental aspect of global culture. People have always cherished being acknowledged for their hard work. In the past, this acknowledgment often came in the form of medals for wartime contributions. Today, it also includes certificates for skills or achievements, even in online games. This domain is experiencing a significant transformation as we transition from physical to digital documents, and Certifier aims to be at the forefront of this change," stated Sergey Butko, co-founder and CEO of Certifier.
"Now over 400 companies are our customers, but we are still a very young company. That's why we plan to invest most of our resources in product development over the next two years. Moreover, we aim to build a company with a global brand that operates from Europe and leverages the advantages of our region," added Vlad Turak, co-founder and CTO of Certifier.
"Certifier perfectly aligns with our vision of the future of education, where credible, fast, and digital verification of specific competencies will become increasingly important. This requires a platform that automates this process for companies and employees and, through APIs, allows easy data exchange with external systems. The demand for such a solution, as well as the team's competence in building a company in a Product-Led-Growth model, is confirmed by Certifier's rapidly growing revenues, with over 80% coming from the UK, US, and Canada," remarked Artur Banach, Partner at Movens Capital.
"As the first VC to invest in Sergey and Vlad's company, we are pleased to welcome new investors on board. Due to the dynamic growth of the business, we decided to make a follow-on, which is part of our investment strategy. Since our initial investment, the company has increased its revenue more than twenty times. Thanks to the development of the product and addressing the needs of successive groups of customers, Certifier has a chance to grow even faster in the coming years," added Wojciech Drewczynski, Principal at Black Pearls VC.
This significant infusion of funds solidifies Certifier's position as a rising star in the digital credential software industry, poised for transformative growth on a global scale.