CRM Software Maker Remberg Closes $12.6M Series A

Remberg, a Munich-based customer relationship management (CRM) software maker, has raised 11 million euros ($12.58 million) in Series A financing, the startup announced Sunday (Feb. 6).

The company said it plans to use the money to further expand sales, product and engineering.

This most recent round is led by Earlybird, the German venture capital investor focused on European technology companies. Participation from previous investors included Speedinvest and Fly Ventures.

In addition to Speedinvest and Fly Ventures, the founders of Personio and Forto have already invested in the previous financing of 2 million euros ($2.28 million) in 2019.

Remberg said it is developing a new breed of CRM software. Rather than being centered around the customer, it is focused on equipment such as machines, devices and vehicles, the basis for the age of the Internet of Things (IoT).

“We quickly saw parallels between Remberg and Personio,” Hanno Renner, CEO of Personio and a Remberg investor, said in a statement. “Small- and medium-sized companies in particular lack the basics, and that is exactly what Remberg has understood.”

Remberg promises its software lays the foundation for the age of IoT. Its XRM software uses master data about equipment, devices and assets from IT systems to provide companies an overview of their items in the cloud. Then, customers can digitalize a process, first in service and later in sales and marketing.

Last month, Meta Platforms Inc., formerly known as Facebook, obtained clearance for its acquisition of Kustomer, a fast-growing player in the customer service and support CRM software market.

Read more: Meta Lands a Victory in Europe and Then It Gets a New Inquiry

In order to win approval, Meta had to promise regulators it would offer free non-discriminatory access to its publicly available APIs for its messaging channels to competing consumer services CRM software providers and new entrants for a decade.