Rencore develops software for secure and efficient collaboration in the cloud. The solution Munich startups helps companies quickly and reliably identify, manage, and control uncontrolled growth within collaborative services like Microsoft 365. The startup aims to make IT governance scalable through comprehensive insights, tips, and best practices, as well as built-in process automation.
Following two successful financing rounds with German investors Capnamic and UVC Partners in 2022 and 2023, Rencore is now gaining additional support from business angels. The new additions to the startup's advisory board will contribute their insights and experience to further international growth. Rencore aims to further expand its position in the rapidly growing cloud collaboration governance market. This market exceeded the $47.5 billion mark in global revenue in 2023. According to forecasts by the IMARC Group, it is expected to continue growing steadily to $109.3 billion by 2032.
The new business angels for Rencore
The new investors are: Hannes Ametsreiter, former CEO of Vodafone Germany and member of the global Vodafone Group Executive Committee; Christian Dahlen, former SAP executive and Managing Director of Kabel Deutschland; Lin Gong-Deutschmann, Europe's Angel Investor of the Year 2022 and founding partner of the startup consulting and investment firm L&R Holding; Martin Reitenspiess, currently Partner and Executive Advisor at Oliver Wyman's Management Consulting Practice; Flixfounders, the investment arm of the founders of the German market leader Flixbus; New Forge, a business angel club composed of entrepreneurs and SaaS experts, including the former Instana founders.
Alexander Hochgürtel, Managing Director at New Forge, explains:
"Every now and then, we come across a startup perfectly positioned to address a pressing market need with a novel solution. Rencore is one such company. Their Rencore Governance tool restores cloud visibility and control for companies with rapidly growing IT landscapes. It gives end users the freedom to collaborate efficiently in the cloud, while IT departments secure collaboration and information sharing both inside and outside the company."
Matthias Einig, CEO and co-founder of Rencore, says:
"We are proud to have the expertise of these six respected entrepreneurs and funds on board. They all share an impressive track record of successfully scaling companies into international market leaders and pioneers. They provide us with guidance for our own market expansion as well as for growth to scale-up and beyond. This puts Rencore in an even better position to enable companies worldwide to achieve optimal collaboration in the cloud, maximizing productivity, security, and cost efficiency."
