Seed: Flip receives 3.5 million euros for employee app

13. Febru­ary 2020

Stutt­gart — Flip, the Stut­t­­gart-based employee app, has successfully closed a seed finan­cing of 3.6 million euros. Foun­ded in 2018, the startup offers compa­nies a modern plat­form that connects and informs employees across all levels in a legally compli­ant manner. The 3.6 million euros in seed finan­cing will be used for product and team deve­lo­p­ment and expan­sion. Among the custo­mers are Porsche, Bauhaus and Edeka

Flip offers commu­ni­ca­tion at eye level
The employee app enables company-wide sharing and distri­bu­tion of infor­ma­tion to all employees, whether they work in the office, on the shop floor, in the warehouse, in the field, or part-time. The appli­ca­tion is based on a DSGVO-compli­­ant data and employee protec­tion concept that was jointly vali­da­ted with experts and works coun­cils from seve­ral DAX compa­nies. Inte­gra­tion opti­ons for exis­ting IT infra­struc­ture allow seam­less connec­tion to exis­ting proces­ses. Flip thus comple­ments and supports exis­ting and future digi­tiza­tion projects in companies.

Capi­tal for new employees, growth and expansion
The main inves­tors LEA Part­ners and Cavalry Vent ures invest in the company toge­ther with Plug and Play Ventures and busi­ness angels such as Jürgen Hambrecht (Chair­man of the Super­vi­sory Board BASF), Prof. Dr. Kurt Lauk (Chair­man of the Super­vi­sory Board Magna Inter­na­tio­nal), Florian Buzin (Foun­der Star­face) and Andreas Burike (HR Busi­ness Angel). The capi­tal raised is to be inves­ted prima­rily in the expan­sion of the team and the deve­lo­p­ment of further markets.

Promi­nent custo­mer base
Since its launch in 2018, the young company has alre­ady been able to win seve­ral well-known compa­nies as custo­mers. Among them Porsche, Bauhaus, Edeka, Junge IG Metall, Wüsten­rot & Würt­tem­ber­gi­sche. Parts of the savings banks and Volks­banks are also among the custo­mer base of the Stut­t­­gart-based startup. Flip is also supported by strong inno­va­tive part­ners such as Deut­sche Telekom.

Flip foun­der and CEO, Bene­dikt Ilg, comm­ents, “Flip is the easiest solu­tion for inter­nal commu­ni­ca­tion in compa­nies of all sizes. We are proud of the deve­lo­p­ment of our company so far and see this invest­ment as a confir­ma­tion of our vision.” Bern­hard Janke from LEA Part­ners states: “As a young company, Flip was able to win well-known custo­mers. The lean solu­tion can be inte­gra­ted into exis­ting IT systems and exis­ting commu­ni­ca­tion proces­ses, even in large orga­niza­ti­ons. With the funding round, we want to further expand the team and product to support the foun­ders in their vision to make digi­tal work­force enga­ge­ment acces­si­ble to all companies.”

Claude Ritter of Cavalry Ventures says, “We believe Flip is setting new stan­dards in this fled­gling market with its safe, light­weight and highly capa­ble product.”

About Flip GmbH
Flip is the easiest, most effi­ci­ent and secure way to inform and connect employees. For this purpose, the company bund­les commu­ni­ca­tion, infor­ma­tion and proces­ses in an appli­ca­tion which not only convin­ces through DSGVO and works coun­cil confor­mity, but also through its simple and intui­tive usabi­lity. Flip can act as a mobile endpoint for the intra­net, giving desk­top and non-desk­­top employees equal access to infor­ma­tion. Flip is successfully used by nume­rous custo­mers such as Porsche AG, Wüsten­rot & Würt­tem­ber­gi­sche, Edeka, Bauhaus or the young IG Metall. The company was star­ted in 2018 by Bene­dikt Ilg and Giacomo Kenner and curr­ently employs 30 people at its head­quar­ters in Stuttgart.

About LEA Partners
LEA Part­ners, as an entre­pre­neu­rial equity part­ner, supports foun­ders and manage­ment teams at diffe­rent stages of deve­lo­p­ment in their growth and achie­ve­ment of a leading market posi­tion. Based in Karls­ruhe, one of the largest tech­no­logy clus­ters in Europe, LEA Part­ners has mana­ged invest­ments in nume­rous tech­no­logy compa­nies since 2002. With two invest­ment vehic­les for all company phases and a strong network of opera­tio­nal sector experts as well as stra­te­gic part­ners, LEA Part­ners can contri­bute substan­tial added value to the deve­lo­p­ment of tech­no­logy companies.

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