Augsburg startup receives funds to expand it. The young company only completed a funding round in January.
Meritech and Tiger Global are investing $75 million, equivalent to more than €60 million, in Xentral. Frank Tellin, Christian Reber and Sequoia have already joined Benedict and Claudia Sutter previously. As an angel investor, Bastian Numencher, co-CEO of Celonis, whose company is now Unicorn, is also a member of the board.
Founded in 2015, Xentral Software is specialized in small and medium sized businesses. Xentral offers you software that digitizes and automates operations in the warehouse or in accounting. At first, Claudia and Benedict Sutter financed their company out of their hands. With new donors, the work must now expand aggressively.
One plan is to improve the ease of use of the software. In addition, Xentral wants to expand its app store and also become more global. As the first country to expand, Great Britain has chosen the place where the product will be launched soon.
“I see many similarities with our route with Cylons,” says Bastian Numencher. “The foundation of the Celonis EMS and mining process is that business processes are primarily digitized. I see tremendous value for SMEs in integrating and automating their business processes into a digital tool thus laying the foundation for a new world of data-driven operations.”
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