# Ciklum

Ciklum is a Software development and IT outsourcing based in London, United Kingdom.

## Overview

- **Organization type:** Software development and IT outsourcing
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Founded:** 2002
- **Assets under management:** Undisclosed
- **Website:** ciklum.com
- **LinkedIn:** https://www.linkedin.com/company/ciklum

## Regulatory record

- **Reports private funds:** No

## About

Ciklum was established in 2002 by Torben Majgaard as a software engineering firm serving venture-backed startups and mid-market enterprises. The company operates a build-operate-transfer model, standing up dedicated engineering pods in Eastern Europe that function as integrated extensions of client product teams. Headquartered in London, Ciklum maintains primary delivery centers in Ukraine and Poland, with additional offices in Belarus, Spain, and Pakistan. The firm's core proposition combines team-as-a-service engineering with product advisory, spanning enterprise software, fintech, and digital health. Known client engagements include Just Eat, FlixBus, and CurrencyFair, where Ciklum deployed dedicated front-end, back-end, and QA engineering squads. Unlike project-based outsourcing, its model emphasizes long-duration team embedding — developers, product managers, and DevOps engineers work exclusively for a single client over multi-year engagements, often transitioning to client-owned subsidiaries. Majgaard led Ciklum through private equity ownership, selling a majority stake to UK-based Recognize Partners in 2015, with subsequent acquisitions by other PE firms shaping its consolidation strategy. The firm acquired Infogen in 2019 to deepen mobile and cloud capabilities, and later merged with CN Group in 2021 to broaden nearshore capacity in Central Europe. Ciklum's structural differentiator is not proprietary IP but rather a legal-entity-as-a-service architecture — the firm establishes in-country subsidiaries for clients who want permanent Eastern European engineering bases without incorporating themselves. This regulatory scaffolding transforms a temporary outsourcing relationship into a durable captive-offshore model, a capability most contract-engineering firms lack.

## Sectors

- Enterprise Software
- FinTech
- Digital Health

## People

- Michael Boustridge — Board Member / Former CEO
- Torben Majgaard — Founder

## Questions

### How does Ciklum source its client engagements?

Ciklum primarily sources clients through direct enterprise sales, partnership channels with technology platforms, and referrals from the venture capital and private equity communities. Its build-operate-transfer model attracts CFOs and CTOs seeking to establish captive engineering centers in Eastern Europe without the regulatory and legal overhead of incorporating foreign subsidiaries.

### Does Ciklum participate in fund commitments or direct deals?

No. Ciklum does not make fund commitments or direct investments. Its role is as a vendor — providing engineering talent and product development services to clients who maintain their own capital structures and funding sources.

### What investment stages does Ciklum typically target?

Ciklum does not invest. It serves clients across growth-stage, late-stage venture-backed, and publicly listed enterprise segments. Its service model supports companies that have raised venture funding and need to scale engineering teams rapidly without diluting equity further by building in-house ops from scratch in high-cost locations.

### Which sectors does Ciklum explicitly avoid?

Ciklum's client portfolio is concentrated in enterprise software, fintech, and digital health. There is no public record of the firm declining engagements by sector, but its sales motion and case studies suggest limited penetration in hardware-dependent industries such as semiconductor design or industrial automation.

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Last updated: 2026-06-03T20:00:00.000Z

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