Our 2018 Guest ProGlove Makes ”Monster Exit” at around 500 m € — Plans to Be The Next Teamviewer
Be ahead of the curve
Our motto is “be ahead of the curve.” So we are always happy when we can provide you with exclusive data, which no one else has, exclusive in-depth content, or identify startups early on, that later make national or international headlines e.g. IDnow, FastBill or Meetfox
Be (4 years) ahead of the curve
Back in 2018, we traveled to NYC since we have been nominated for the Benzinga Global Fintech Awards (made it only into the finals).
While we have been there, we did a few interviews with German startups, just entering the US market via the German Accelerator NYC Program and German Entrepreneurs, which are already successful in the US.
We interviewed several employees and entrepreneurs on top of the building in which the German Accelerator is located in lower Manhattan. One of them was an (at this time) pretty unknown startup called ProGlove from Munich. They offer a barcode scanner, which is fixed on the back of the hand on a glove. With this setup, employees can scan codes and have their hands free all the time. See the Youtube Playlist below:
Back to the present exit by ProGlove
Now an article by one of Germany’s largest and most respected newspapers FAZ states that the company has been sold to Private Equity fund Nordic Capital for an estimated 500 m € (~ 527 m US$). This by itself is astonishing by German standards. Also, you should know ProGlove’s CEO Andreas König. He has been the CEO of Teamviewer, which was first bought by a private equity fund for reportedly one billion euros and later listed, making it in Germany’s mid-cap stock index MDAX.
When Mr. König was asked if he sees a similar development for ProGlove as for Teamviewer, he confirmed that this is the plan. „Das ist der Plan, ja. Die Firma hat wirklich das Potential, richtig groß zu werden.“
You can learn more about ProGlove in this YouTube video. Please note that we also edit in a bit where we show the glove, so the videos has never been turned into an audio podcast.
