The Growth Stage of a startup’s life cycle comes after the Seed Stage. During the Growth Stage, startups already have a good Product-Market Fit found during the Seed Stage, and their main goal is scaling sales in the user segment that was identified in Seed Stage, as well as searching for new user segments.
This stage is great for attracting outside investors, because most of the risks of insufficient Product-Market Fit have already been eliminated, and investors are able to assess the potential size of the market, calculate customer acquisition costs and their profitability (LTVC). Experienced investors usually help with building sales channels, finding key employees for sales and marketing, and with partnerships.
During the Growth Stage, angel investors and small VC funds that finance Seed Stage companies are replaced by larger VC funds able to invest $500K to $5M (and sometimes even $50M) to scale a proven business model.
Top Growth Stage Tech Startups with Global Focus and R&D in Ukraine (2021)
| Company Name Website Eng Ukrainian R&D Created | Product Description | List of all investments | User growth Revenue growth Recognitions |
|---|---|---|---|
| andcards andcards.com Remote: Ukraine, Korea, Poland 2018 | Coworking space software with a focus on members. Ucluster Review | Space3ac, Grant, €35K (Jan 2019) Space3ac, Grant, €5K (May 2019) Start-Up Chile, $70K (2019) | Used by coworking spaces in 23 countries, 2021 Won at Start-Up Chile, 2019 |
| Calmerry calmerry.com Kyiv 2020 | Mental health service provider with affordable prices, vetted therapists, and responsive support. | Digital Future, Seed round, $5M (Apr 2021) | |
| Datrics datrics.ai Kyiv 2020 | No-code too for analytics and Machine Learning. Ucluster Review | Sigma Software, Y Combinator, Angels, QPDigital, StartupYard, ICU Ventures, Seed round, $1M (Aug 2021) | 300+ users of the free web version |
| Finmap finmap.online Kyiv 2017 | Online service for financial management in small and mid-sized businesses. | BRISE Capital, Startup Wise Guys, Sigma Software Labs, Inspirium, Angels, Undisclosed (2021) USF, Seed round, $50K (Apr 2020) | Presence in 12 countries USF Pitch Day winner |
| GIOS – Global Innovative Online School gioschool.com Kyiv 2018-2019 | An interactive platform for remote & blended learning for maths and critical thinking. | UVO Ventures, Angels, Seed round, $400K (Aug 2021) USF, Grant, $50K (Feb 2020) F&F, Angels, $350K | 100K users (7500 paying) Proceeds, $84K (2020) USF Grant |
| Let’s Enhance letsenhance.io Kyiv 2018 | Deep tech AI company that builds End-to-End imaging solutions for photo enhancement and optimization. | Acrobator Ventures,Techstars London Accelerator, Digital Future, Alexey Orap, Seed round (Jun 2020) | 4M+ users Twice rated as top product on Product Hunt. Ukraine Startup Awards, 2020 London Design Awards, 2019 |
| Party.Space party.space Kyiv 2020 | Service for fun online meetups, corportate training events, and afterparties. | Various, Pre-Seed round, Undisclosed (Nov 2020) Various, Seed round, Undisclosed (Aug 2021) | 100+ paying users |
| Reface reface.app Kyiv 2018 | AI-powered app where people can swap faces in videos, GIFs and images for entertainment. | TQ Ventures, Andreessen Horowitz, Adventures Lab, Angels, Seed round, $5.5M (Dec 2020) | 15M+ users Ranked as a #1 in the US AppStore 100M+ downloads Best of 2020 by Google Play |
| Respeecher respeecher.com 2018 | Voice cloning for content creators: from Hollywood movie studios to game developers. | ff Venture Capital, Acrobator Ventures, ICU Ventures, Network VC, Angels, Seed round, $1.5M (2020) | |
| Skyworker skyworker.ai Kyiv 2018 – 2019 | A “swipe left” / “swipe right” tech recruiting marketplace. We simplified the hiring process to one action of setting interviews. | Murat Abdrakhmanov, Pre-Seed round (Apr 2020) | 15K IT professionals as users IT Arena winner, 2019 USF Pitch Day #3 winner, 2020 |
| Upswot upswot.com Ukraine 2019 | A fintech platform that enables banks to connect, collect, and normalize data from business software tools they regularly use. | Common Ocean Ventures, INV Fintech, Angels, Seed round, $5M (Mar 2021) | Award at UK-Ukraine Fintech Summit |