123FormBuilder, which is in the portfolio of Turkey's first venture capital fund 212 and offers data collection and automation solutions through online forms and surveys, has been acquired by Silicon Valley-based secure content management platform Kiteworks.
212, which has been investing in growth-stage technology companies for 13 years and is one of the leading structures in Turkey's entrepreneurial ecosystem, has spun off from another portfolio company.
123FormBuilder, a cloud platform among 212's portfolio startups that offers its users the ability to collect and automate data through online forms and surveys, has been acquired by Kiteworks, which ensures the security and compliance of sensitive content worldwide.
With 212's vision of investing in startups focused on regional and global growth, it has more than 2.5 times its investment in Romania-based 123FormBuilder 4 years ago.
212 co-founder Numan Numan commented on the topic;
“At 212, we offer high return potential to our investors by evaluating acquisition opportunities with our investment strategy focused on B2B technology companies. In this sense, the "exit" of 123FormBuilder is an important indicator of 212's strategy of investing in the right companies at the right time, the success of our portfolio management, and our efforts to add value to our founders and their initiatives. If we look at successful "exit" examples from our portfolio startups; iyzico, which we were an early stage investor with our first fund, achieved Turkey's first and largest fintech "exit" in 2019. Meddy, the Qatar-based doctor appointment platform we invested in with our second fund, has “exited” in 2021. Now, with the successful "exit" of 123FormBuilder, a second "exit" from our second fund has taken place. These exits demonstrate our commitment to creating value in our portfolio and our ability to deliver returns to our investors. "We will continue to invest in high-potential startups and evaluate strategic opportunities for successful exits."
