Fibery Limited
startupFibery Limited is the Cyprus-registered company behind Fibery, a work management platform on which teams define their own databases and relations instead of adopting a fixed project structure. Fibery began in 2017 as an internal project inside Targetprocess, the agile planning tool started in 2004, and by the founder's own account became an independent company with a clean cap table when Apptio acquired Targetprocess in 2021. The product launched publicly on 1 April 2020. Fibery has raised $8.3 million across a seed round closed in July 2021 and a Series A announced in January 2023, and reported a team of about 30 people in January 2026.
About Fibery Limited
Fibery Limited develops Fibery, a cloud work management platform. Michael Dubakov serves as CEO, alongside co-founder Vadim Gaidukevich. The company gives 2017 as its founding year, which is also the year Fibery started life as an internal project inside Targetprocess; it was turned into a separate product around 2018 and entered public availability on 1 April 2020. Operations are split across two entities: Fibery Limited, registered in Nicosia, Cyprus, which is the copyright holder on the website and the contracting party in the data processing agreement, and Fibery, Inc., a United States affiliate that the data processing agreement lists as handling customer support, sales and corporate headquarters activities. The team works remotely across Europe with offices in Warsaw and Nicosia. Fibery's own About page is internally inconsistent on the founding date, with body copy implying 2016 and its own page metadata implying 2017; four further vendor-linked sources, including the company's LinkedIn profile and its 2023 funding announcement, give 2017.
Fibery states that both of its co-founders started Targetprocess in 2004, although Dubakov's own biography describes founding it alone. Apptio acquired Targetprocess in February 2021, and it transferred to IBM when IBM completed its acquisition of Apptio in August 2023. Fibery's own year-in-review for 2021 sets out the relationship directly: Fibery "was an internal project inside Targetprocess in 2017", and "in 2021 Targetprocess was acquired by Apptio, and Fibery became an independent company with the clean cap table". Neither Apptio nor IBM holds an ownership stake in Fibery. Funding totals $8.3 million: a $3.1 million seed led by Altair Capital, closed in July 2021, and a $5.2 million Series A led by Tal Ventures with Altair Capital, announced on 31 January 2023. No round has been disclosed since. The company publishes an unusually detailed annual review. It reported 530 total paid customers at the end of 2024 (published January 2025), and for 2025 reported 1.6 times growth in paid customers against a stated goal of doubling to 1,000 accounts, 85% year-over-year MRR growth against 40% in 2024, marketing and sales spend cut from $360,000 to $195,000, a team held flat at 30 people, and a goal of reaching profitability in Q3 2026 (vendor-claimed figures, published January 2026). In its July 2026 product report, posted on 14 August 2026, the company stated that it had passed 1,000 paid accounts. Customers named on its current customer-stories page include Lemonade, Kontur, NZX, Neara, Optiv and Plex.