What Our Portfolio Companies Think About HIVE

Since launching in 2014, HIVE has been focused on supporting talented teams as they build world-class products. With the launch of the newly expanded seed fund, we look forward to supporting more Armenian entrepreneurs as they scale their companies.

We work closely with each of our portfolio companies to help them reach new markets, customers, and investors. A few of our portfolio company founders share their thoughts below, discussing why investing in Armenian entrepreneurs is important and how HIVE has helped their companies grow.

“We love the idea of supporting Armenian entrepreneurs,” says Tatul Ajamyan, Cofounder of Wakie. “I think that we not only get funding but more importantly, we get inspiration and the feeling of being supported. It is very important to create an Armenian entrepreneurial ecosystem and HIVE is in the heart if this process.”

HIVE’s team and network of advisors has worked closely with Wakie to help them expand to the US and pivot their model. “Since joining HIVE, we've done a lot of progress. We grew 20 times, got into Y Combinator and successfully closed an investment round with great investors.”

To date, HIVE has connected portfolio teams with key partnerships which have helped them to scale. Through HIVE’s network, Discotech was also able to sign a game-changing partnership with ticketing provider Wantickets in 2015. “Since joining HIVE, Discotech is now profitable and has expanded to nine cities and is inching closer to the 100k user mark,” says Arteen Mnayan, Director of Business Development at Discotech.

“HIVE is… a family of founders, investors, and advisors from all different backgrounds with an open door policy where you can turn to for guidance. For example, we sought out HIVE looking for a technical advisor and were quickly put in touch with Raffi Krikorian. A few emails and a video conference later, Raffi Krikorian officially joined DIscotech as a technical advisor,” adds Arteen.

The HIVE team has worked with our portfolio teams as they look to expand to a variety of markets, including Armenia, the US, Russia, and the UAE. “In addition to providing startups with initial funding, HIVE adds value by assisting young companies with business advice and assistance through their network,” states Ashot Mnatsakanyan, Cofounder of OutChat.“Due to funds raised from HIVE, we were able to upgrade and improve our product and expand to a new geographical market [Russia].”

“The early stage investment from HIVE allows an idea to develop into a reality. Armenians are inherently entrepreneurs and now have a platform and support system in HIVE to validate their ideas into fully functioning profitable businesses,” concludes Arteen.

To learn more about HIVE’s portfolio family, click here.

Image: HIVE Partner Nina Achadjian with Wakie Cofounders Tatul and Hrachik Ajamyan at the Y Combinator Demo Day.