Agile Enterprise: SaaS Platform Workpath Closes Multi-Million Euro Funding Round
- Company software for strategic execution: Workpath is the leading provider of new, agile processes at strategy and target level.
- The company receives a new investment of several million Euros from signals Venture Capital, who are specialised in enterprise technology.
- The High-Tech Gründerfonds already invested in 2019.
- Workpath’s customers include companies such as SAP, Metro, and Hella.
- On the advisory board: Jörg Beyer, former co-founder and co-CEO of LeanIX.
Munich, October 15, 2020. The Munich-based software company Workpath has received millions in funding from signals Venture Capital to further grow and expand its market leadership. Workpath uses Objectives and Key Results (OKRs) to help companies flexibly and effectively execute their strategy. The software is based on management approaches around agile and new work and was specially developed to help teams with the transparent and efficient definition, coordination, and pursuit of goals.
Agile work aims to increase the adaptability, innovative power and effectiveness of companies. Through their product, Workpath supports more and more companies of all sizes with their strategy execution process. The Workpath software creates a framework for agile leadership and target management, thus helping customers on their path to becoming an agile company.
Johannes Müller (CEO), Thomas Obermüller and Pascal Fritzen (CTO) founded the company in 2017 with the goal of providing an intuitive collaboration platform that would help teams move faster from strategic goals to results and make organisations more adaptable. The result is Workpath: Companies can better plan, coordinate and achieve goals across departmental boundaries. The transparency not only simplifies processes, but above all also motivates every single employee. With Workpath, every team member can see how their individual tasks contribute to the bigger picture. Essential to the process are faster feedback and learning cycles, as well as continuous improvement to reach agile organisational structures. In addition to the software, the company also offers training, interactive learning formats and events, as well as a network of experts and consultants.
Now, Berlin-based signals Venture Capital is financing the company with several million euros. “Workpath’s intuitive software solution enables strategic corporate management even in rapidly accelerating and complex market environments. The product helps companies turn the vision of agile work into reality. We are very much looking forward to working with the team around Johannes Müller and Pascal Fritzen,” says Christian Weniger, Managing Partner at signals Venture Capital.
“With its focus on enterprise software and the experienced minds of Christian Weniger and Marcus Polke, signals Venture Capital is a strong partner for us to attract further large European companies and support them in establishing competitive management processes,” says Johannes Müller, CEO of Workpath.
In recent years, the progressive implementation of digital strategies has increased the demand for software that can help with agile management. In product development, this approach is already widespread in the form of the Scrum model. “But many companies have now recognised that the principles of new working methods and sustainable collaboration models must also be anchored and rethought at a strategic level. Next to putting the focus on strategic planning and implementation, companies also have to rethink how leadership and company culture have to evolve,”explains Pascal Fritzen, CTO of Workpath.
Up until 2019, the founders financed themselves through their own funds and initial revenue. Even at this early stage, they were able to acquire major customers such as SAP, Scout24, Metro, and Hella. signals Venture Capital joins the existing group of shareholders and extends the current financing round, in which the HTGF. VC has already invested. Since its founding, Workpath has achieved strongly increasing sales revenues, which are in the seven-digit range.
Workpath is an enterprise software provider that helps companies in a dynamic environment to move from strategic goals to results faster and with greater flexibility. Workpath supports companies to successfully execute their strategies through OKRs by making use of intuitive workflow tools and comprehensive analytics. The Enterprise SaaS platform integrates all teams of a company collaboratively in the development, daily operations and performance measurement of strategic goals, which increases transparency, organisation-wide alignment and focus.
About signals Venture Capital
signals Venture Capital is an independently managed and financially-oriented €100 million venture capital fund that is backed by the SIGNAL IDUNA Group. The investment focus of signals Venture Capital is on B2B business models in Europe. The team invests in promising, sector-agnostic, scalable tech solutions with the potential to accelerate or disrupt the transformation of entire industries. The portfolio companies benefit not only from classic venture capital support, but also from the extensive ecosystem, comprising renowned German and European partners, industry experts, and diverse distribution channels.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge almost 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.6 billion into the HTGF portfolio via more than 1,600 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in the public-private partnership include the Federal Ministry of Economics and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies. Our Fund Investors.
Further Information: https://signals.vc
Image: Workpath founders: Johannes Müller (CEO), Pascal Fritzen (CTO), Thomas Obermüller (Co-Founder & VP Engineering) © Workpath