Favro, a cloud-based planning and collaboration app for agile businesses, has announced plans to separate from Hansoft, a project management software firm. The separation of the two businesses will serve to enhance Favro’s competitive posture to accelerate the company’s growth strategy.
Favro is today used by game developers, creative agencies, grown-up startups, large enterprises, and professional business services firms. They start using Favro to empower autonomous teams, and give tools to their managers to align the organization towards company goals. “Favro was launched last year. After the November release of the enterprise plan, customer growth had really started to take off. Favro can now stand on it’s own feet, which is why we’ve decided to spin out. We have done several recruitments and plan to accelerate further,” said Patric Palm, CEO, and Favro and Hansoft co-founder.
Whereas Favro is a startup in the cloud collaboration space, the Hansoft business has been active for more than a decade with its on-premise platform for software and hardware development. “The Hansoft A3 platform for large scale agile software and hardware product development will be stronger as a separate business. The company will be able to put more resources to growing in aerospace, defense, internet of things, and the Asian market where we just got started. We are now also recruiting more developers to our Ukraine Hansoft team,” said Patric Palm.