US VC Accel Partners leads $8 million Series A round in dashdash
London/ Berlin/Frankfurt a. Main — Funds managed by Accel Partners (“Accel”), together with other co-investors, have invested in start-up dashdash in a Series A financing round. Accel Partners was advised by the law firm Hengeler Mueller.
With Dashdash, the two founders Torben Schulz and Humberto Ayres Pereir want to create the possibility for employees to build their own cloud-based web apps without any programming knowledge. The product developed by the company is designed to enable users without programming skills to develop interactive web apps themselves. Many people already use these Excel spreadsheets, for example for financial planning or to record a business plan. dashdash was founded in 2016.
In its current Series A funding round, Dashdash has raised eight million dollars. The round was led by prominent VC Accel Partners. The Berlin-based funds Cherry Ventures and Atlantic Labs also participated, as did angel investors including Felix Jahn, founder of Home24, and David Schneider, co-founder of Zalando. Cherry Ventures, Jahn and Atlantic Labs had already been involved in the company since a pre-seed financing from last year.
Accel is one of the major U.S. venture capital firms, founded in 1986. In addition to its Silicon Valley headquarters, Accel Partners has additional offices in London, Beijing, Shanghai and Bangalore. In addition to biotechnology and medicine, investment fields also include the energy industry, mobile communications, media and many more.
Advisor Accel Partners: Hengeler Mueller
Hengeler Mueller advised Accel on the transaction. Partner Dr. Georg A. Frowein (Frankfurt) and associates Clemens Höhn (Berlin) and Loretta Lang (Frankfurt) (all M&A/Venture Capital) were active.