Munich-based startup Open as App has closed a €5.2 million Series A round. Ventech and Senovo led the round.
The startup, founded in Munich in 2016, has a 'No-code' platform for automated app creation In addition to the lead investors, also based in Munich, Ventech and Senovo Main Incubator and the US VC Acequia Capital participated.
Using Open as App, app developers can add calculation and logic functions or integrate existing business systems without additional programming. The platform makes Excel calculations or database content immediately available to users, for example, in the form of mobile KPI dashboards, quote calculators on websites, or bot-enabled contact lists.
Open as App convinced investors and major customers
With its business model, the startup not only convinced investors but also well-known companies such as Deutsche Bahn, PricewaterhouseCoopers, and Commerzbank. They are using the startup's offering to accelerate their digitalization processes and optimize areas such as sales, customer service, information processes, and reporting.
“The no-code market offers exciting growth opportunities and is an important pillar of the digital transformation of companies,”
explained Stephan Wirries, Partner at Ventech. In addition to capital, the investors also contribute their expertise to the startup, so that Open as App
drive its internationalization and expand its SaaS offering for large as well as small and medium-sized enterprises. The platform provider already has headquarters in San Francisco in addition to Munich.
Headquarters in Munich and San Francisco
"Open as App is a cutting-edge technology with a compelling approach to the increasingly urgent digitalization of business processes. It's fascinating how easy the tools are to use [...]. We are pleased to welcome this strong team to our portfolio of B2B SaaS companies,"
says Frederick Mallinckrodt, Managing Director of Senovo. For the Main Incubator, which has been supporting the startup for some time now in gaining a foothold in the
The Series A financing is another important milestone for the company that has supported the financial and insurance industry.
In addition to the investors already mentioned, the business angel consortium Impact 51 and the business angels Pieter van Groos (CEO of Ferratum), Bart Markus (Gap Technology) and Ralf Hertneck (Cloud Value Equity) are among the investors and shareholders of the startup.
