Seed: Flip receives 3.5 million euros for employee app
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.