News Department Hot News 30 December 2024, 15:42

Results 2024: Sigma Software Group

Despite a difficult year for business and the country, the company continues to grow, launch new ecosystem projects, win prestigious awards, and help the army.

TLDR

— In 2024, Sigma Software attracted 68 new clients.

— The company took first place in the DOU ranking of the best employers in the Ukrainian IT market and 5th place in the Forbes ranking of the best employers in Ukraine, regardless of industry.

— As of the end of 2024, Sigma Software will have 42 offices in 20 countries around the world.

— Customer satisfaction levels reached record highs of 98% and NPS of 70.

— The company has won 10 professional and CSR awards from IAOP, Clutch, UGEN and others.

— Sigma Software Labs became a co-founder of the Defence Builder accelerator and a co-organizer of the Ukrainian stage of the Startup World Cup 2024.

— The amount of assistance to the military from the Sigma Software Unity Fund has reached $4.8 million since the beginning of the war.

— In 2025, we expect business growth of 15% and plan to close an M&A deal in one of the company’s markets.

Main results of the year

During 2024, Sigma Software attracted 68 new clients — approximately 20% more customers than in 2023.

Overall, the group’s revenue grew by approximately 5% in 2024. Next year, the company expects growth of at least 15%, and in the future it aims to return to the growth rates we had before the full-scale invasion — 25-30% per year.

One of the most important metrics for the company is customer satisfaction and NPS (the likelihood that a customer will recommend you to friends or colleagues). According to the results of 2023, these indicators reached a record 98% and NPS 70.

In February 2024, Sigma Software was recognized as the best employer among large IT companies in Ukraine according to the DOU rating (among companies with more than 1,500 specialists). And in May, in the employer rating from Forbes and Robota.ua, the company was in 5th place among all companies, regardless of industry. In this year’s DOU rating, Sigma Software is also competing for first place.

In 2024, Sigma Software strengthened its presence in Latin America and Europe. The company currently has 42 offices in 20 countries around the world. New clients have appeared in many countries on different continents, from Japan to Canada.

The company continues to innovate, with a portfolio of 25 products and over 40 services.

In 2024, dozens of commercial projects based on artificial intelligence were implemented. AI significantly improves data processing, and clients are constantly looking for tools for more efficient data processing. Among the interesting cases was a large project to automatically generate vector images for a catalog and automate the search for information in instructions for telecom equipment. For a law firm, we created a contract analysis tool that detects anomalies and unacceptable conditions. This allowed the client to save about $500,000 per year and significantly increase the volume of processed documents.

The end of 2024 brought back the interest of the entire technological world to blockchain and cryptocurrencies, the main one of which once again renewed its record value. Here, IdeaSoft and Eventyr, companies included in Sigma Software Group, are implementing their expertise in Web.3.0, Blockchain and Metaverse.

How Sigma Software helps Ukraine

Ukraine is the homeland of our company and the majority of its specialists. Therefore, together with the entire Ukrainian people, we are experiencing the tragedy of the war and are making our contribution to the dreamed-of future victory.

It will be impossible to achieve it without economic development, and for this Ukraine needs strong exports. Sigma Software actively promotes Ukraine as a global IT hub — at numerous events including Web Summit in Lisbon, Ukraine Recovery Conference in Berlin and London Tech Week, as well as in publications in Forbes, CNBC, Reuters, Euronews and other top media. Over the year, the company took part in 141 events in 22 countries, everywhere promoting the Ukrainian IT brand, as well as the importance of cooperation with Ukrainian companies and investing in our victory and post-war reconstruction.

We are members of over 20 professional associations, and most of them work in one way or another to promote Ukraine’s technology brand on the international stage.

The company is a co-founder of Diia.Citi Union and the UA Tech Network platform, an active member of the EBA IT Committee, the American Chamber of Commerce, Lviv IT Cluster, the Techosystem association, and also participates in the supervisory boards of the IT Ukraine Association and the Kharkiv IT Cluster.

In November, at the Web Summit 2024 conference, the Ministry of Digital Affairs and the Lviv IT Cluster, with the support of Sigma Software, presented the CodeUA marketplace, which will help Ukrainian IT companies enter global markets.

Of course, helping our Armed Forces is always a priority. The Sigma Software Unity Fund, which is 95% funded by the company, donated $4.8+ million to help the military, including mobilized colleagues, during the full-scale war. We also provide a lot of help to Kharkiv, where our company was born.

Corporate venture fund Sigma Software Labs became a co-founder of the Defence Builder accelerator for Ukrainian startups developing defense technologies this year. The accelerator helps founders of defense tech projects improve their business skills and attract venture capital investments. The first demo day was recently held, seven startups have already graduated from the first incubation period, and we are preparing a new batch.

Defence Builder will become part of a defence tech ecosystem, created by Sigma Software Labs, Defence Development Fund (a spin-off of the Kyiv School of Economics), and other investment companies. This ecosystem provides startups with access to rapid product testing, a network of potential investors, and defence companies from NATO countries. We will soon hear about new interesting initiatives within the ecosystem.

Ecosystem benefits

Defence tech was not the only focus of Sigma Software Labs’ efforts. This year, our investment wing co-organized the Ukrainian stage of Startup World Cup 2024, a global startup competition in which the winners of regional selections compete for a $1 million investment prize in the final. One of the competition tracks was based on the UNICORN acceleration program, which is run by Sigma Software Labs. The winner of the Ukrainian selection was the startup Spendbase.co, which represented Ukraine at the October finals in San Francisco.

Sigma Software University, which has been uniting the educational initiatives of Sigma Software Group for eight years, this year involved 11,405 students in various educational programs and events. Sigma Software University works in three areas: work with universities, internal education, and training IT specialists of all levels — from Junior to Senior.

Also in 2024, the EdTech Ukraine association was born, one of the co-founders of which was Sigma Software University. This organization aims to become the main center of competence for the development of educational technologies in Ukraine. This year, Sigma Software University opened 5 free courses for Ukrainian students and military personnel, which were attended by more than 2,000 students. And a record 2,760 teachers took part in the Teachers Smart Up intensive for teachers of IT specialties.

The Star for Life Ukraine charity foundation, founded by Sigma Software and partners, also reached an important milestone in 2024. The number of Ukrainian children who participated in the foundation’s IT educational programs reached 20,000.

As a reminder, Star for Life Ukraine helps Ukrainian children affected by the war, creates educational opportunities, and helps with educational tools.

Plans for 2025

In 2025, the company expects business growth of 15%, and from 2026 it expects to return to the growth rates we had before the full-scale invasion — 25-30% per year.

In addition, Sigma Software is resuming M&A activity. In an interview with Forbes, CEO and co-founder of Sigma Software Group Valeriy Krasovsky noted that the company is planning to purchase an IT company, the name of which has not yet been announced. The due diligence process is currently underway. This is an IT company in one of the external markets that are important for the group’s development.

In addition, Sigma Software plans to continue to be a responsible employer for our 2,000 professionals, help clients achieve their goals, develop innovation and education, and assist the Armed Forces and the country’s reconstruction.