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Series B: Bayern Kapital invests in VEACT

6. Septem­ber 2018

Landshut/Munich — The Bava­rian Growth Fund, mana­ged by Bayern Kapi­tal, is inves­ting in VEACT GmbH from Munich as part of a Series B finan­cing round. The start-up has deve­lo­ped a soft­­ware-based plat­form that can signi­fi­cantly incre­ase the effi­ci­ency of marke­ting proces­ses in the auto­mo­tive indus­try. The mid-seven-figure finan­cing round is led by new lead inves­tor FIDURA Private Equity Fund. The previous inves­tors Seven­ture, Senovo, Unter­neh­mer­TUM and KfW also parti­ci­pa­ted in the capi­tal incre­ase. The contact between inves­tors and VEACT came about at one of the BayStartUP Venture Confe­ren­ces, where outstan­ding young growth compa­nies meet renow­ned venture capi­tal repre­sen­ta­ti­ves, public capi­ta­lists and busi­ness angels from all over Germany.

Through consis­tent use of data, VEACT signi­fi­cantly incre­a­ses the effi­ci­ency of marke­ting and sales proces­ses in the auto­mo­tive indus­try. VEACT uses all rele­vant invoice, vehi­cle and service data from the manu­fac­tu­rer or dealer­s­hip and iden­ti­fies the opti­mal target group for each marke­ting campaign with its self-deve­­lo­­ped custo­mer vita­lity analy­sis. Using the VEACT Campaign Mana­ger, employees can then launch a suita­ble custo­mer commu­ni­ca­tion with a tailo­red offer. As a result of this data-driven marke­ting, campaign sales can be incre­a­sed by up to 200 percent — while simul­ta­ne­ously redu­cing marke­ting costs.

VEACT was foun­ded in Munich in 2011, has around 70 employees and plans to grow to over 100 employees. The start-up aims to deve­lop new digi­tal products and services for targe­ting custo­mers and to drive inter­na­tio­na­liz­a­tion. To this end, VEACT recently opened foreign offices in Vienna and Madrid. VEACT is thus active in the DACH region, the Iberian Penin­sula, France, Great Britain, Italy, and nume­rous coun­tries in Southe­as­tern Europe.

Bavaria’s Minis­ter of Econo­mic Affairs Franz-Josef Pschie­rer says: “VEACT has deve­lo­ped extra­or­di­na­rily well. I there­fore expressly welcome the fact that the Bava­rian Growth Fund is suppor­ting the further deve­lo­p­ment of VEACT’s promi­sing tech­no­logy and helping to conti­nue the start-up’s success story. VEACT’s clever combi­na­tion of data analy­sis and arti­fi­cial intel­li­gence has the poten­tial to rede­fine the rela­ti­ons­hip between custo­mers and compa­nies in the auto­mo­tive sector. And that’s what the Bava­rian Growth Fund is all about: accom­pany­ing compa­nies with inno­va­tive ideas into the next phase.”

About VEACT
VEACT GmbH deve­lops and distri­bu­tes a soft­­ware-based plat­form for the digi­ta­liz­a­tion of marke­ting proces­ses in the auto­mo­tive indus­try. With self-lear­­ning tech­no­logy and a broad auto­mo­tive know-how, VEACT supports its custo­mers in making marke­ting and sales proces­ses more effi­ci­ent through data. To do this, VEACT uses all avail­able data sources — e.g. invoices, service histo­ries, satis­fac­tion queries, and campaign data — and conden­ses them into a custo­mer profile. The aim is to process this infor­ma­tion quali­ta­tively in such a way that it can be used to create indi­vi­dual custo­mer profiles and recom­men­da­ti­ons for action (predic­tive custo­mer intel­li­gence). Car dealer­s­hips and manu­fac­tu­rers bene­fit from lower process costs, impro­ved custo­mer loyalty and thus higher sales. VEACT curr­ently employs around 70 people.

About Bayern Kapital
Bayern Kapi­tal GmbH, based in Lands­hut, was foun­ded in 1995 as a wholly owned subsi­diary of LfA Förder­bank Bayern on the initia­tive of the Bava­rian state government. As the venture capi­tal company of the Free State of Bava­ria, Bayern Kapi­tal provi­des equity capi­tal to the foun­ders of inno­va­tive high-tech compa­nies and young, inno­va­tive tech­no­logy compa­nies in Bava­ria. Bayern Kapi­tal curr­ently mana­ges eleven invest­ment funds with an invest­ment volume of around 325 million euros. To date, Bayern Kapi­tal has inves­ted around 273 million euros of equity capi­tal in around 260 inno­va­tive tech­­no­­logy-orien­­ted compa­nies from a wide range of sectors, inclu­ding life scien­ces, soft­ware & IT, mate­ri­als & new mate­ri­als, nano­tech­no­logy and envi­ron­men­tal tech­no­logy. As a result, more than 5,000 jobs have been perma­nently crea­ted in Bava­ria in sustainable compa­nies. www.bayernkapital.de

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