€ 11 M Series A for remberg to lead the ‘Mittelstand’ into the age of IoT

6. February 2022

The Munich-based startup remberg is developing a new breed of CRM software. The logic of the solution is not centered around the customer, but rather around equipment such as machines, devices, vehicles or buildings – the basis for the age of the Internet of Things (IoT). Earlybird is leading the Series A funding round, along with business angels such as the founders of Celonis, Personio, UiPath, Konux and many more.

The company remberg has developed a cloud-based software that meets ‘Mittelstand’ companies where they usually are when it comes to digitalization today: At the very beginning.

The so-called “Extended-” or “Anything-Relationship-Management” (XRM) solution by remberg advances the “Customer-Relationship-Management” approach. Thus, in addition to customers and contacts – tailored to the industry – the solution can also be used to manage machines, equipment, devices, buildings and much more – centrally in one place. “The first step is to move away from Excel and paper to a digital solution in the cloud. As long as field service technicians still fill out reports on paper and customer service agents do not have a central ticketing system, there is no need for predictive maintenance and IoT, yet” says David Hahn, CEO of remberg. To further develop the so-called XRM-software, remberg now receives Series A financing of 11 million euros. The round is led by Earlybird with participation of the previous investors Speedinvest and Fly Ventures. The four founders David Hahn, Julian Madrzak, Hagen Schmidtchen and Cecil Wöbker met at the Munich-based startup forge, the Center for Digital Technology & Management (CDTM). The investment will be used primarily to further expand the areas of sales, product and engineering.

Personio, Celonis and Co.: Why renowned business angels from five different unicorns invested in remberg
In addition to Speedinvest and Fly Ventures, the founders of Personio and Forto had already invested in the last seed financing round of 2 million euros in 2019. New additions now include, among others, Celonis founder Bastian Nominacher, as well as founders and executives of UiPath, Aiven, Instana and Konux. With this, business angels from five different unicorns believe remberg has what it takes to join the illustrious circle of companies with a valuation over one billion dollars. Hanno Renner, CEO of Personio and investor at remberg, explains, “We quickly saw parallels between remberg and Personio. Before we were able to start with automation in HR, we also first had to get rid of Excel, e.g. for vacation times. In order for remberg to unleash the potential of IoT, core processes like service first have to move away from paper. Small and medium-sized companies in particular lack the basics, and that is exactly what remberg has understood. The potential for digitalization in the ‘Mittelstand’ is huge.”

remberg’s software lays the foundation for the age of IoT
The remberg XRM software takes all relevant master data about equipment, devices and assets from existing IT systems such as ERP or CRM to give companies an overview of their own things in the cloud, initially without connectivity. The customer can then digitalize associated processes using remberg, first in service and later in sales and marketing. Today, customers already manage digitally with remberg’s software several hundred thousand machines, devices and equipment. “remberg is completely rethinking customer-oriented processes – namely starting from products and things and not parties, such as customers. This offers completely new possibilities to map complex relationships in different industries, especially with regard to the coming widespread IoT connectivity. We believe that remberg will make the difference here and provide the right solution to pave the way for companies into the digital future”, says Dr. Hendrik Brandis, Partner and Co-Founder of Earlybird.

About remberg
remberg GmbH was founded in August 2018 by David Hahn, Julian Madrzak, Hagen Schmidtchen and Cecil Wöbker in Munich. remberg is building the XRM-System, a new breed of software to help companies digitize processes around equipment, such as machines, devices, buildings and vehicles, thereby setting the groundwork for the age of the Internet of Things (IoT). The Series A financing round was led by Earlybird with participation from existing investors Speedinvest and Fly Ventures. For more information, visit www.remberg.de

About Earlybird

Earlybird is a venture capital investor focused on European technology companies. Earlybird manages different funds focusing on digital technologies in Eastern and Western Europe, healthcare technologies and university spin-offs. With over EUR 1.5 billion under management, eight IPOs and 30 trade sales, Earlybird is one of Europe’s most established and active venture capital firms. For more information, visit www.earlybird.com 

From left to right, front row: Cecil Wöbker, David Hahn
Back row: Robert Urban, Hagen Schmidtchen, Beate Plendl, Fabian Memmert, Lucy Ivanova, Julian Madrzak