Ukrainian-based IT company Headway Inc has closed its first external Series A round with global investment firm Bullhound Capital. It is the company’s largest first round since its full-scale incursion and the largest investment in the VI fund of Bullhound Capital, which has over €1 billion in assets under management and has invested in Spotify, Slack, Klarna, Unity.
Ukrainian-based IT company Headway Inc has closed its first external Series A round with global investment firm Bullhound Capital. It is the company’s largest first round since its full-scale incursion and the largest investment in the VI fund of Bullhound Capital, which has over €1 billion in assets under management and has invested in Spotify, Slack, Klarna, Unity.
The company’s press release notes that the investment will strengthen Headway’s development of new products in the field of personalized learning using AI and its presence in global markets. The amount of funding is not specified, as it is «part of a broader phased capital raising strategy».
Headway Inc has reportedly reached over 150 million downloads since 2019 and is already profitable. Its flagship apps Headway, Impulse and Nibble consistently rank among the top apps on the App Store. The company has an R&D lab and offices in Kyiv, Madrid, Warsaw, Lviv, and Nicosia.
«Our products are tools for personal development in today’s dynamic world. This investment will help us cement and strengthen our leading positions in the market. Improving existing and launching new products, expanding and consolidating the market, investing in AI and, of course, in people — we are already doing all this. And now — we will do many times more and faster,» commented Anton Pavlovsky, founder and CEO of Headway Inc., on the financing.
According to him, this investment was the largest first institutional round among technology companies with Ukrainian roots during the war with Russia. «This round is another proof that building unicorn companies from Ukraine is possible even in extremely difficult times,» added Pavlovsky.
Bullhound Capital is the investment arm of GP Bullhound, with €1 billion in assets under management, having invested in global giants such as Spotify, Klarna, Revolut, Slack, Unity, Connincex.ai and EcoVadis. Bullhound Capital has recently focused on AI investments and was recently the lead investor in a €189 million round in Multiverse Computing, an AI and quantum deeptech startup.
Headway previously rebranded to Headway Inc to position itself as a multi-product company. The redesign could cost the company up to $200,000. The rebranding is part of preparations for Headway Inc’s IPO, which the company plans to conduct in 2027.
