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Venture Capital
addventure.vc

Investments

58

Portfolio Exits

3

About AddVenture

AddVenture is a Moscow-based early-stage investment firm focusing on aggregator marketplaces, eCommerce, on-demand applications, SaaS & marketing tools, and consumer web & mobile.

Headquarters Location

Ulitsa Tvardovskogo dom 8

Moscow, 123458,

Russian Federation

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Latest AddVenture News

Russian maintenance service marketplace Wowworks raises $3.6 million to become a global major

Jul 13, 2021

By East-West Digital News / July 13, 2021 July 13, 2021 Wowworks, a Moscow-based startup providing corporate clients with a variety of maintenance services, has raised $3.6 million from three VCs:  AddVenture , one of the most established VC firms with Russian roots;  DV Capital ,  a recently-founded, Moscow-based VC firm; and  LVL1 , a vehicle of Russian-Israeli tech investor Lev Leviev. Back in 2017, the startup already secured $1 million from Addventure. Founded in 2015, Wowworks facilitates the hiring of independent contractors to carry out minor repairs, clean rooms, repair and configure office equipment, etc. Some 300 types of services are available, with a sophisticated software platform connecting customers to contractors. Service quality is “guaranteed,” with a Wowworks supervisor “fully controlling the process of completing the task,” i.e. “monitoring the quality and timing of the work, including the procurement of materials.”  Savings can reach “up to 40% as all job prices are agreed and fixed in advance.” Born in Russia, the company now operates across several countries including Belarus, Germany and Austria, Poland, Germany and the UK. The company claims to have built “a nationwide network of 40,000 independent contractors” in this country. Wowworks aims to assert itself as a major global player. The company will use the proceeds from the latest round to enter the markets of India and Southeast Asia. In 2020, according to official company register data, Wowworks’ Russian business generated 224.8 million rubles in turnover ($3.1 million at the average exchange rate of the year) with losses amounting to 39.8 million rubles (around $550,000). The startup’s total turnover last year jumped to $7 million (up 10 times in one year), with contractors receiving 67% of this amount.

AddVenture Investments

58 Investments

AddVenture has made 58 investments. Their latest investment was in Xway as part of their Seed VC on October 10, 2021.

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AddVenture Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/11/2021

Seed VC

Xway

$1.15M

Yes

9/23/2021

Seed VC

MetroSpeedy

$5M

Yes

7

7/9/2021

Seed VC

Wowworks

$3.6M

Yes

2

6/10/2021

Series B

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$99M

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10

3/9/2021

Convertible Note

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$99M

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10

Date

10/11/2021

9/23/2021

7/9/2021

6/10/2021

3/9/2021

Round

Seed VC

Seed VC

Seed VC

Series B

Convertible Note

Company

Xway

MetroSpeedy

Wowworks

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Amount

$1.15M

$5M

$3.6M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

7

2

10

10

AddVenture Portfolio Exits

3 Portfolio Exits

AddVenture has 3 portfolio exits. Their latest portfolio exit was K50 on October 13, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/13/2020

Acquired

$99M

2

3/10/2020

Merger

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$99M

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10

6/18/2014

Acquired

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$99M

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10

Date

10/13/2020

3/10/2020

6/18/2014

Exit

Acquired

Merger

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

AddVenture Team

5 Team Members

AddVenture has 5 team members, including , .

Name

Work History

Title

Status

Elena Masolova

Founder

Current

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Name

Elena Masolova

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Work History

Title

Founder

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Status

Current

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