Search company, investor...

Predict your next investment

Venture Capital
11.vc

Investments

118

Portfolio Exits

2

Funds

2

Partners & Customers

1

About Eleven Ventures

Eleven is an accelerator and venture fund for early-stage, European startups that provides mentorship, support, and initial capital to entrepreneurs and their ideas.

Headquarters Location

Campus X, Floor 1

Sofia, 1729,

Bulgaria

Want to inform investors similar to Eleven Ventures about your company?

Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights’ platform.

Latest Eleven Ventures News

Svetozar Georgiev, Eleven Ventures New Partner, on Supporting Startups to Stay Competitive in the Age of AI

May 18, 2023

In the vast land of entrepreneurship, Svetozar Georgiev inhabits a particular realm of leadership that views success as giving back and nurturing the growth of others. He has supported the development of the Bulgarian tech ecosystem from the first big exit to the first unicorn in the trenches, sharing the growing pains of startups and the tech community as a mentor, a business angel, a philanthropist, and a fellow entrepreneur. His secret weapons – knowledge-sharing and harnessing the power of communities. Now, the ex-Telerik co-founder embarks on a new journey as a partner at Eleven Ventures , one of the first Bulgarian VC funds which now has a CEE-wide portfolio of startups and sealed its third fund at €60M . Svetozar Georgiev sees this step as a natural progression to his mission to contribute to positive change in the tech business landscape. At Eleven, he will expand the fund Future of Work vertical with a special focus on its intersection with AI. He believes that “AI is leveling the ground, allowing even pre-seed companies with a handful of people to achieve a lot and attack incumbents with outdated technologies, business models, and go-to-market strategies.” But how did it all start for him? Founding Telerik and Beyond Svetozar Georgiev is one of the co-founders of Telerik, a dev tools software company that was acquired by US company Progress for $262.5M back in 2014 – the biggest exit publicly announced to this date for the Bulgarian ecosystem. In 2002, Georgiev co-founded Telerik along with Boyko Iaramov, Vassil Terziev, and Hristo Kosev. After Telerik’s acquisition, just like the rest of the founders, Georgiev redirected his efforts toward sharing the lessons learned and helping fellow entrepreneurs succeed in building global companies. He co-founded educational institutions such as Telerik Academy and Telerik Academy School, which provide digital economy education for people of all ages. Additionally, he played a vital role in establishing Campus X, the biggest private incubator in Bulgaria for startups , established companies, and entrepreneurial talent. Georgiev’s vision for Campus X and the startup ecosystem is centered around developing a knowledge-sharing mentality. He has stressed in interviews that sharing expertise and best practices among community members enables everyone to excel together. He himself has provided guidance and support to multiple startups like the Agritech startup Pollenity (BeeHive Technologies), the manufacturer of edible cups Cupffee , the manufacturer of biodegradable packaging film LAM’ON, the electric bicycles producer Econic one, and the autonomous cargo drones Dronamics . But Georgiev’s impact extends beyond his contributions to the business sector. He’s also a member of the board of trustees of the American University in Bulgaria (his Alma Mater), the board of the “Teach for Bulgaria” Foundation, the Public Council of TUES (Technological School “Electronic Systems” at Technical University – Sofia), and a chairman of the board of BESCO – The Bulgarian Entrepreneurship Association. The Recursive caught up with Svetozar Georgiev to chat about his new role at Eleven Ventures, the opportunities that AI presents to regional startups, and how to best leverage this technology to outrun the competition. The Recursive: You have been supporting the growth of the Bulgarian tech ecosystem as a business angel, mentor, and advisor. What is the motivation behind your decision to join Eleven Ventures as a partner? Svetozar Georgiev: I have been working together with Eleven for quite some time now, having a number of angel investments that are portfolio companies. Also, I have been involved with mentoring some of the #Oneof11 founders in the areas where I am versed. So joining Eleven Ventures as a Partner was a natural progression for me. What’s new is that now there is much more structure, team support, and diversity in my daily routine – which I like a lot. In your role at Eleven Ventures, you will be focusing on the Future of Work vertical with an emphasis on AI. How do you envision AI shaping the Bulgarian tech ecosystem?

Eleven Ventures Investments

118 Investments

Eleven Ventures has made 118 investments. Their latest investment was in Cupffee as part of their Pre-Seed on May 5, 2023.

CBI Logo

Eleven Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/23/2023

Pre-Seed

Cupffee

$0.54M

Yes

4

5/3/2023

Seed VC - II

Pluria

$2M

Yes

7

3/22/2023

Seed VC

True Insights

$0.32M

Yes

1

3/22/2023

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

3/22/2023

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

Date

5/23/2023

5/3/2023

3/22/2023

3/22/2023

3/22/2023

Round

Pre-Seed

Seed VC - II

Seed VC

Seed VC

Seed VC

Company

Cupffee

Pluria

True Insights

Subscribe to see more

Subscribe to see more

Amount

$0.54M

$2M

$0.32M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

4

7

1

10

10

Eleven Ventures Portfolio Exits

2 Portfolio Exits

Eleven Ventures has 2 portfolio exits. Their latest portfolio exit was Content Insights on May 19, 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

5/19/2020

Merger

$99M

1

1/29/2020

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

5/19/2020

1/29/2020

Exit

Merger

Acquired

Companies

Subscribe to see more

Valuation

$99M

$99M

Acquirer

Subscribe to see more

Sources

1

10

Eleven Ventures Fund History

2 Fund Histories

Eleven Ventures has 2 funds, including Eleven Ventures Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/24/2022

Eleven Ventures Fund III

$67.92M

2

2/9/2018

Eleven 2.0 Fund

$99M

10

Closing Date

1/24/2022

2/9/2018

Fund

Eleven Ventures Fund III

Eleven 2.0 Fund

Fund Type

Status

Amount

$67.92M

$99M

Sources

2

10

Eleven Ventures Partners & Customers

1 Partners and customers

Eleven Ventures has 1 strategic partners and customers. Eleven Ventures recently partnered with Visa on October 10, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

10/19/2018

Partner

United States

1

Date

10/19/2018

Type

Partner

Business Partner

Country

United States

News Snippet

Sources

1

Eleven Ventures Team

3 Team Members

Eleven Ventures has 3 team members, including , .

Name

Work History

Title

Status

Jon Bradford

Techstars, TexDrive, Ignite , North East Finance, Opsys, and Arthur Andersen

Founder

Current

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Name

Jon Bradford

Subscribe to see more

Subscribe to see more

Work History

Techstars, TexDrive, Ignite , North East Finance, Opsys, and Arthur Andersen

Title

Founder

Subscribe to see more

Subscribe to see more

Status

Current

Subscribe to see more

Subscribe to see more

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.