Berlin — The Berlin-based startup Solvemate has raised a seven-figure sum as part of a growth financing. The financing round was led by venture capitalists Picea Capital and Venture Stars.
Solvemate offers a virtual assistant to automate customer service in companies. In the coming year, Solvemate plans to drive its growth and triple its revenue. Specifically, the money from the financing round is to be used for further technological development and to expand marketing.
Solvemate also plans to increasingly acquire customers from the European region, focusing primarily on the DACH region. Solvemate is also investing the new capital in the algorithm and new marketing activities. The company, founded in Berlin in 2015, had already received funding from Venture Stars in the past. The renewed financial support thus demonstrates Venture Stars’ satisfaction with Solvemate’s development. Picea Capital from Hamburg, on the other hand, is a new investor. — Venture capitalists Picea Capital and Venture Stars are investing the sum to accelerate the growth of the startup, which was founded in 2015. The start-up, founded by Erik Pfannemöller (photo), currently has 30 employees. The money is to be used for the further development of the technology — but above all for marketing, in order to make Solvemate better known in Germany, Austria and Switzerland.
About Solvemate GmbH
Solvemate (www.solvemate.com) is a technology company that automates corporate customer service with its virtual assistant. Using a combination of artificial intelligence and machine learning, Solvemate’s software can correctly answer customer queries in an average of 12 seconds and 83 percent of the time. Customers thus receive a targeted response quickly, while companies benefit from a significant reduction in costs. Users already include Berliner Sparkasse and the startup SumUp, among others. Solvemate was founded in 2015 by Erik Pfannmöller. The company is based in Berlin and currently employs 30 people.
LUTZ | ABEL represented Solvemate through its two venture capital experts Dr. Marco Eickmann and Philipp Hoene. Advisor Solvemate: Dr. Marco Eickmann, LL.M. (Partner), Philipp Hoene (Associate)
About LUTZ | ABEL
With around 60 lawyers and offices in Munich, Hamburg and Stuttgart, the commercial law firm LUTZ | ABEL provides advice on all aspects of commercial law. For more information, visit www.lutzabel.com