[PR] No-Code Platform Open as App raises €5.2 million
VC investors Ventech and Senovo lead €5.2m Series A fundraising for Munich-based Open as App — the first No-Code, automated app development platform
Munich, 15.10.2019 — Open as App, the first No-Code platform for automated app creation, raised a Series A investment of €5.2 million led by Ventech and Senovo. main incubator (Research & Development Unit and early-stage investor of Commerzbank Group) and US-based Acequia Capital provided additional fundraising for the round.
Open as App’s fundraising follows the growing demands of the global low/no code development market — a market which Gartner predicts will support 65% of all app development within five years. The platform enables the direct transfer of existing business data and logic into No-Code apps — an important contribution to the digital transformation of companies of all sizes.
The platform enables users to add calculation/logic features or integrate existing business systems without additional coding — a departure from common low code/no code RAD tools that require intensive coding. With Open as App, Excel calculations and database contents are instantly available to end users -for example as mobile KPI dashboards, web embedded offer calculators or bot-enabled contact lists.
Global industry leaders such as Commerzbank, Deutsche Bahn (largest German railroad company),and PricewaterhouseCoopers are already using Open as App’s new approach to no-code app development in their day-to-day business, accelerating their digitalization processes and greatly optimizing sales, client services, information sharing processes, collaboration and reporting.
Open as App’s new investors provide the Munich-based start-up valuable expertise and resources for its internationalization and the expansion of its SaaS offering for business enterprise and SME customers.
“No-Code is an exciting growth market and a central pillar of digital transformation of companies,” explains Stephan Wirries, Partner at Ventech. “Seeing the international inbound interest for Open as App’s platform makes Ventech excited to partner with the team for their next chapter.”
“Open as App is cutting edge technology with a convincing approach for the ever more needed digitization of business processes. The incredible ease of use of Open as App’s tools is fascinating. We are pleased to support Open as App in its growth and we are happy to welcome the very strong team in our portfolio of B2B SaaS companies,” says Frederick Mallinckrodt, Partner at Senovo.
“main incubator has accompanied Open as App from the outset and together with the management team, has driven its growth to date, primarily in the financial and insurance sectors. This Series A financing project represents an important milestone for the company,” says Christoph Osburg, Investment Manager at main incubator.
In addition to aforementioned investors, Open as App counts Business Angel Consortium Impact 51 and Business Angels Pieter van Groos (CEO, Ferratum), Bart Markus (Gap Technology) & Ralf Hertneck (Cloud Value Equity) among its existing investors and shareholders.
About Open as App
Open as App is the first No-Code platform for automated app creation. Founded in 2016, the German startup enables companies to automatically create business apps, productively use their business data everywhere, and significantly accelerate their digitalization. Using a globally unique technology, Open as App automatically transfers database and Excel content, such as diagrams and formulas, into user-friendly apps with comprehensive business functions. These apps are immediately available on all major platforms — natively in both iOS & Android, as bot/chat clients and on the web. The control over the data and the users will remain with the company. Leading companies such as ARAG, Commerzbank, Deutsche Bahn, IWIS and PwC are already using Open as App. Read more on www.openasapp.com
Ventech, Europe’s leading pan-European venture capital firm, invests in high-growth European startups with activities in the digital economy (Enterprise Software, Deep Technology, Marketplaces, Media) through its local offices in Paris, Munich and Helsinki. In China, Ventech’s Shanghai-based team manages a dedicated regional fund to invest across Asia and offer scaling and internationalisation support in Asia for European portfolio companies.
With more than 900M€ raised since 1998, Ventech has invested in over 150 companies in Europe, China, Russia and in the US.
Key active and past investments include successful high growth companies such as Believe, Curse (acquired by Amazon), Freespee, Ogury, Picanova, Speexx, StickyADS.tv (acquired by Comcast), Botify, Webedia, Vestiaire Collective and Withings (acquired by Nokia). More: www.ventechvc.com
Senovo is a Munich and Berlin based early stage venture capital fund with a focus on B2B SaaS investments. The Senovo team believes that SaaS should be the dominant model for delivering software and is thrilled about the great market opportunities which are continuously created by the secular shift towards SaaS. Senovo funds outstanding entrepreneurs and teams building world class products and generally gets involved soon after product launch. More: www.senovo.vc
About the main incubator
Main Incubator GmbH — or main incubator for short — is a wholly-owned subsidiary of Commerzbank. The company is headquartered in Frankfurt am Main. As Research & Development Unit of the Commerzbank Group main incubator deals with future topics and emerging technologies such as blockchain, big data, machine learning, artificial intelligence, biometrics, robotics, virtual reality, cloud, open API, wearables, IoT and quantum computing. Through strategic investments in tech-driven start-ups main incubator participates in innovations and makes them available for Commerzbank and its customers. By developing own prototypes main incubator is proactively shaping innovations annd is thus a strong partner for Commerzbank on its way to a digital company. By promoting the FinTech ecosystem and the monthly “Between the Towers” series of eventsmain incubator pursues the goal of identifying innovations at an early stage. More: https://main-incubator.com/en/home/