We rarely talk about IT service and consultancy companies with excitement, but this one is an exception for at least three reasons. Resolute Software was registered some 20 days ago by Hristo Georgiev and Veli Pehlivanov, two former Telerik team members, and Atanas Simeonov, the CEO of the largest security company in Bulgaria. The new venture that aims to position itself in the premium IT consultancy and development segment has already attracted its first two clients and launched a representative sales office in the US.
Georgiev and Simeonov met around New Venture Software, the previous endeavor of Hristo Georgiev.
From prospective client to co-founder
Back in the days, Hristo Georgiev started out his career as an HR intern at Telerik, the company that later turned into the biggest IT success in Bulgaria. In a short time, he got to a senior position, and led the HR department, before leaving to co-found his own company. Started in 2012, New Ventures Software was a boutique software services company, that was going well but couldn’t scale at the desired pace. As Georgiev was planning the next steps, Simeonov decided to back him. Pehlivanov, a former VP of Engineering at Progress also joined the team. And so Resolute Software was born.
Officially registered on April 1, the company is part of S Group International’s portfolio, an investment firm founded by Simeonov and owner of the security business VIP Security. In its portfolio is also Amatas, an IT service company in the field of cyber sec and forensics. S Group provides the initial funding that would allow the newly founded Resolute Software to set up operations. Georgiev and Pehlivanov, who hold minority stakes in the venture, at least for now, will be the main drivers.
The next generation
Resolute Software aims to provide consultancy and IT services mainly on the European and the US market and to help mid to large companies through their digital transformation and migration to the cloud. The focus is on end-to-end solutions, not just projects, in the field of security and finance. In its second phase, the co-founders want to support also local startups in the development of their own products. “We are focused on long term projects and relations with our clients, and not just small projects for countless companies,” says Georgiev. The company aims to stay technology agnostic and put the business goals of the clients in the first place.
Resolute indeed already has the first two clients from the US, and has launched a second location overseas – a sales representative office in Atlanta, Georgia. The founders are set to be profitable by the end of the first operational year. However, this is not the most important milestone, they say.
To create a different type of software service company where people have the right mindset, feel well and appreciated, and won’t switch to another employer because of the better football table, was the dream of the three founders from the very beginning, they tell us. Whether they will succeed to position themselves on the Bulgarian market, remains to be seen. The local industry already experiences IT talent shortage and over 80% of the IT companies are also planning to grow their teams in 2019 (according to BASSCOM).
The ultimate goal of Resolute Software is to change the face of the IT service industry and create a team of top software developers, who are also business acumen. “Each one of our team members should be able to directly work with the clients,” states Pehlivanov. Currently, the team consists of eight people, and there’s no plan for endless growth.
99 is the limit of the team size, the founders have decided as of the inception of the company, and they will be picked very carefully. “We want to be able to preserve a company culture based on personal relationships and autonomy,” says Georgiev. IQ and soft skills tests, alongside the technical ones, will be a key entry point into Resolute, which plans to work with the Telerik Academy to find the right talent.
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