Horizon Capital Backs GoIT, Fueling Ukrainian Company’s Global Expansion
November 22, 2023
Kyiv, Ukraine, 22 November, 2023 — Horizon Capital, a U.S. private equity firm investing primarily in fast-growing tech and export oriented companies in Ukraine, announced an investment to GoIT, a leading global edtech platform. This transaction marks the firm’s second investment from its latest fund, Horizon Capital Growth Fund IV (HCGF IV), which reached $298 million at its most recent closing held September 28, 2023.
GoIT is a new generation educational company, helping aspiring students to learn programming and other digital skills for a successful career in tech. Led by serial entrepreneur, managing shareholder, Roman Korytskyy, and CEO, Anton Chorny, GoIT has grown to over 20,000 students and supporting placing alumni in 850+ tech companies in 15 countries. The Company has demonstrated stellar capital efficiency, growing USD revenues by over 12 times between 2020-2023, while maintaining strong profitability and cash flows.
New products, the proprietary Learning Management System (LMS), the mix of in-class, online and automated teaching modules, as well as the increasing deployment of AI tools, has helped the accelerated scaling of GoIT’s franchise across the globe. While Ukraine was GoIT’s first target market and the home base for all R&D, the Company is actively expanding within Poland, Romania, Mexico, Colombia, Philippines and in other new countries. More than 25% of all new students join GoIT courses through recommendations, while its programs enjoy an NPS of over 60%.
Lenna Koszarny, Horizon Capital’s Founding Partner and CEO, said: “We are thrilled to partner with GoIT’s visionary founders and world-class team to further their mission of democratizing engineering education for the digital professions of today and tomorrow. GoIT is an investment that scores high on both financial merits and impact, committed to creating more high value-add jobs in Ukraine while expanding the country’s vibrant tech ecosystem, which has demonstrated extraordinary growth and resilience over the years.”
Roman Korytskyy, Founder of GoIT, said: “I am delighted to welcome Horizon Capital as part of our team at this critical juncture for our Company. The additional growth capital will help us accelerate our international scaling and invest in the tremendous opportunities created by the advance of AI. We truly are just at the beginning of our journey. Our team will keep focusing, first and foremost, on maximizing value for our students, disciplined execution and capital-efficient growth – the formula which has served us so well – as we approach the enormous opportunity ahead of us.”
Vasile Tofan, Senior Partner at Horizon Capital, added: “I have known Roman for nearly a decade and have always been impressed by his entrepreneurial drive and impressive track record of successful ventures. Together with Anton, they have built their most ambitious business yet, aiming to redefine computer science education and digital learning at large. We have been attracted by the rare trifecta of huge global market demand, excellent product and stellar team, and look forward to capitalizing on this extraordinary opportunity by putting both our capital and value-add offer to work.”
GoIT is a leading global edtech company, with a mission to democratize engineering education for the digital professions of today and tomorrow. Founded in Ukraine, the company expanded to Poland, Romania, Mexico, Colombia and Philippines with their educational offering, aiming to enter two new markets each year. It has helped thousands of career switchers secure jobs in the IT sector with 850+ tech employers hiring GoIT alumni. Beyond its core business, the company launched GoITeens, a pre-college offering aiming to boost access to high quality STEM education and Neoversity, the pioneer online Tech Masters program with internationally recognized diplomas. GoIT was recognized by the Ministry of Digital Transformation of Ukraine as the #1 institution by number of employed alumni as part of IT Generation program. GoIT is led by serial entrepreneur, managing shareholder, Roman Korytskyy, and CEO, Anton Chorny, a Forbes 30 under 30 protagonist.
About Horizon Capital
Horizon Capital is the leading private equity firm in Emerging Europe with $1.5 billion in assets from investors with a capital base exceeding $630 billion, raising over $750 million in growth capital in just over five years, including $298 million HCGF IV. The firm’s investment strategy focuses on backing visionary entrepreneurs leading fast-growing, primarily tech and export-oriented businesses in Ukraine and Moldova. Horizon Capital-managed funds have invested in over 172 companies employing more than 80,000 people.