April 12, 2021
Emerging markets private equity firm Da Vinci Capital has closed a follow-on investment in global software engineering company DataArt. Da Vinci Capital made its initial investment in DataArt in 2018.
Despite the Covid-19 pandemic, in 2020, DataArt achieved record annual revenue up over 15% from the previous year, forging over 150 new client relationships and increasing headcount to 4,200 people. In February 2021, DataArt opened a new sales office in Dubai to supports its growing business in the Middle East and North Africa.
Da Vinci Capital Managing Partner Dennis Fulling said, “DataArt’s business proved resilient to Covid-19 due to the company’s ‘people first’ approach and its dedication to client service and engineering excellence. We look forward to consolidating our strong relationship with DataArt and its founders.”