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The Slovak and at the same time global UNIMUS software, with thousands of active customers, is focused on the automation, configuration and management of IT networks (Network Configuration Management software). It is an invaluable tool for network administrators, who can quickly react in the event of failures and return the network and its devices to their original functional condition after outages and replacements. Safely and almost immediately. 

The software has been developed by NetCore, a company based in Košice, since 2017. In 2020, while still a startup, the company was provided with growth capital by the investment fund CB Investment Management in the amount of 600 thousand Euros, which helped the company in the development of the product and the development of sales of this software. Currently, the software ranks among the top 5 global solutions, which, in addition to NetCore, are also developed by IT corporations such as CISCO.

Why become a Netcore banker and lend Netcore capital?

About the company

A fast-growing company with revenues of more than 1 million EUR with a historical compound annual growth rate (CAGR) of 49%. Revenues for the first quarter of 2024 reached 300.000 EUR

The globally diversified portfolio of customers from the US, EU, and Asia

Highly scalable subscription-based product - up to 97% of the previous year's revenue is recurring

Secured investment by property with preference over landlords and other lenders.

Return of 9.7% p.a. (per annum), with 7.7% paid semi-annually and 2% at maturity

The investment puts you in the role of a "bank". It therefore will fund NetCore's development activities - such as empowering salespeople and strengthening the programming team for the new ArcMap product, which will visualize network devices. The funding is in addition to a loan from Slovenska Sporitelna, which has no limits on further growth funding.

Repayment of the investment will be ongoing - from the company's profits, which are planned to be covered with a sufficient reserve. In case of problems, you are in a position in front of the owners and other creditors, where in addition you have a lien on the owner's receivables and real estate.

Due to the collateralization of the loan with real estate and a highly diversified portfolio of receivables from customers with long-term contracts, the overall credit score improved by one notch, i.e. from "C" to "B". For more information on credit scores, see the "Credit Scores" section below and the investment documentation.

Investment parameters

Total interest yield ~ 9.7% p.a., consisting of an interest margin of 4% p.a. + 12M Euribor (currently 12M Euribor ~ 3.6% p.a.) + 2% p.a. deferred interest* 

35% of the principal paid during the life of the loan (annually). The remaining part of the principal is payable at the end of the loan's life, i.e. after 3 years 

The loan is secured by receivables and real estate 

* Annual interest bonus* 2% p.a. paid for the entire period at the maturity of the loan

Investment parameters – detail

The company's customer base around the world is growing significantly, which also increases the demands on staffing. Therefore, the loan will mainly be aimed at expanding the team to include developers and also filling important functions in the field of trade and marketing. The loan can also be used to pay off an existing loan.

Funding purpose

NetCore is focused on corporate clients. UNIMUS software is sold worldwide in the form of annual licenses (SaaS – service as a service) through the company's portal and is used by customers across a wide spectrum of operations, from telecommunications, large restaurant chains and luxury fashion conglomerates to space exploration companies. 

It generates revenues purely from the sale of UNIMUS software as a service (SaaS). The price of the license is determined by the number of devices that the software manages and customers pay for it as an annual subscription directly through the company's website. The customer base is located in the US, Canada, Australia, as well as in Europe, where more than 2,700 licenses of the software have been deployed in over one million devices. More than 42% of our revenues come from Europe, while 40% come from North America. The company is profitable, achieves an average year-on-year revenue growth of 49% and plans a total turnover of EUR 2.4 million in 2026 and approximately EUR 1.1 million EUR operating profit for investments in new products. 

The company plans to expand further, which entails strengthening the sales team as well as the development team that is developing the new Arkmap product. This software is designed to visualise the topological relationships between devices in a network. 

Network technicians choose UNIMUS mainly for reasons such as network automation, configuration backup and change management. 

Business model of the company

The software backs up configurations and parameters of existing network settings and devices, detects, alerts, and reviews the history of changes to network configurations, and through automation, allows these settings to be quickly and easily changed across the entire network and devices within it.

Fast and easy network automation available for all operating systems (MAC, LINUX, Windows)

Configuration backup. In the event of network outages, disasters or network changes, they can quickly restore the original configuration from the comfort of your home

Change management - in case of network changes they can change configurations remotely.

No need for on-site installation - UNIMUS can be installed remotely.

Product

The global network configuration management (NCM) market reached a size of USD 1.6 billion. and an 8.9% (CAGR) increase is expected by 2031. North America is the key and largest market with an estimated growth of 7.8% CAGR. Europe follows with a market share of 25% and an estimated growth of 10.1%. However, the fastest growing market will be Asia Pacific with an expected CAGR of 14.4%.

The market is currently served by 5 software solutions, including the global and dominant giant CISCO as well as UNIMUS software, which has several advantages over the competition:kromě korporátních klientů obsluhují zejména menší a středně velké zákazníky 

In addition to corporate clients, it mainly serves smaller and medium-sized customers 

Lower price and higher flexibility compared to big players 

Provision of service and support as part of the subscription 

The software supports more than 90% of all available network devices  

Unique compatibility not only with Windows but also MacOS (Apple) devices 

For a complete analysis of the market and competition, please refer to the financial analysis.

Market and competition

Tomáš has more than 15 years of experience in IT and 7 years as UNIMUS software developer. He also has previous experience in IT architecture and administration.

Jozef has previous experience as a software engineer and he has contributed with his expertise at NetCore for more than 7 years.

Founders

The company successfully meets its business plan on an ongoing basis, thanks to its efficient planning and operations management. Further product development and customer support will be crucial.

It lies mainly in the potentially inefficient management of internal processes, while inadequate management of team expansion can multiply this risk.

 The development of a new product, planned for the end of 2024, may be significantly delayed in this market. The capital from the loan is allocated precisely for the capacity and development of this product on time.

The risk of hacker attacks that have already been experienced in this segment by the competing SolarWinds solution. UNIMUS reduces this risk by means of regular software updates, security certificates and, at the same time, by anonymising clients that are not publicly available.

The demand for these software solutions is not expected to decrease. The growing market, the diversification of customers as well as the development of new software for the visualisation of topographic relationships reduces this risk.

Despite the specific and "niche" market, competition exists with overlapping proposals. However, UNIMUS combines affordability and competitive features with innovation. ArkMap is the second step (out of three) in fulfilling the long-term vision of creating a single unique platform for the operation of IT networks. 

Risks

The credit score of the company is defined according to a combination of financial and non-financial company indicators. It analyses the probability of default of the loan, i.e. the risk that the loan will not be paid. These factors lead to an adjustment of the interest rate according to the level of risk. 

Financial indicators – The software company reported a steady revenue growth in 2023 and was able to overcome the turning point and tip into profit. Weak asset capitalisation is mitigated by real estate collateralisation. The indebtedness is low, which will change as a result of the loan obtained from Crowdberry investors. 

Non-financial indicators – The company is already well established in the market. The management team is experienced and has historically been able to meet financial targets as planned. However, given the size of the business and the global market,  

its market position is weak but has potential for further growth. 

Overall score rating for the investment opportunity at level B 

Due to the collateralisation of the loan by real estate, the overall credit score improved by one notch, i.e. from "C" to "B". More information about the score can be found below in the "Credit Score" section or in the investment documentation. 

Credit Score

From a regulatory perspective, we must close the investment opportunity no later than 31.12.2024, 23:59. 

The investment opportunity in the target company is provided by Crowdberry Investment Platform J.S.A. 

Unimus by Netcore

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Marek Baranyai

unimus-2023

Fast growing and profitable IT company from Košice. Investment secured by real estate

Crowdberry investors have already invested over €65 million in over 40 companies.

Successfully funded companies

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Unimus by Netcore

Unimus by Netcore

About the company

Why become a Netcore banker and lend Netcore capital?

Investment parameters

Investment parameters – detail

Funding purpose

Business model of the company

Product

Market and competition

Founders

Credit Score

Market and competition