My job on-line accounting service raised $4 M investment

My job on-line accounting service raised $4 M investmentMy job Company has successfully completed a deal with Klever Internet Investments Limited, a special unit of a major Russian investors Klever Asset Management. The amount of investment is $4 M.

The proceeds will be directed to the products development and increasing online accounts level of security. Company's management reserves the controlling stake under the deal. This will help to continue the chosen way of development, which showed its worth.

The successful experience in conjunction with investments will allow us to take significant market share of professional solutions for accountants and invest even more to the safety and reliability of the service - Maxim Yaremko, General Director of My Business said.

My Job is a SaaS accounting products analogue of successful foreign companies like Intuit, NetSuite and Xero. Key reasons for the investment are a proven business model, a professional team with extensive experience in related industries, rapid growth of customers that suggests further rapid development of the company with a high potential for growth in the Russian market - Gregory Shirin, CEO Klever Asset Management comments on the deal.

Investing in My job service development is a good solution for Klever Asset Management. SaaS market in Russia in the SMB segment is growing rapidly, demonstrating excellent dynamics. However, there are not so many examples of successful and proven business models in the market. My job Company compares favorably with its competitors, showing impressive growth and clear strategy - Andrey Movchan, Third Rome CEO says.

My job service is one of the most successful accounting SaaS-solutions in Russia today. I think the attraction of Klever Asset Management investments will be good for online accounts - Sergei Grebennikov, deputy director of the Russian Association of Electronic Communications says.

My job is Russia's first online service for bookkeeping. Both professional accountants and clients who do not have special skills can use it. My job came on the market in 2009 with a product designed for individual entrepreneurs and micro-businesses.

At the end of 2011, winning more than 180 thousand users, the company has released a range of products aimed at the market of small and medium businesses, as well as professional accountants. The company was created by two businessmen who pooled their knowledge and experience: Maxim Yaremko, the owner of IT Company engaged in outsourcing software development for Europe and the United States, and Sergei Panov, former CEO and Aktion-Media co-owner specializing on professional journals and services.