Romanian VC Early Game Ventures exits from cybersecurity expert CODA Intelligence

Early Game Ventures (EGV), one of the most important venture capital managers in Romania, announced on April 10 that it sold CODA Intelligence, a Romanian provider of next-generation automated cybersecurity solutions and one of the first investments of EGV I fund managed by EGV, to the global supplier PDQ.

CODA Intelligence is a Romanian startup that provides state-of-the-art cybersecurity solutions, founded in 2016. It originates from Bucharest but has its HQ in Boston. The company has built a SaaS cybersecurity platform and is on a mission to provide enterprise-class vulnerability management solutions designed for SMEs.

CODA Intelligence received in 2020 investments from Early Game Ventures, Roca X, and angel investor Marius Alexe in a EUR 0.8 million Seed Funding Round, with Stratulat Albulescu (SAA) serving as CODA’s legal advisor.

“The funding round raises the investment available for this stage of startup development to about EUR 1 million,” according to Stratulat Albulescu at that time (2020).

SAA also advised CODA on the acquisition by PDQ.

PDQ is a leader in the software and IT asset management industry and helps IT professionals, both small and large companies, manage and organize software and hardware assets and configure devices with Windows or Apple operating systems on who owns them. Founded in 2001, PDQ is headquartered in South Salt Lake, Utah (USA).

Early Game Ventures is an investment fund financed through the Competitiveness Operational Program 2014-2020 and co-financed by the European Regional Development Fund. Recently, the EIF gave the green light for the launch of the second fund, Early Game Ventures II (EGV II), which will start investing actively in the next period.

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