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Spryker Announces $22 Million Growth Capital Investment

Spryker Systems GmbH, a leader in beyond-desktop commerce technology, today announced the completion of a $22 million growth equity investment led by One Peak Partners, with participation from existing investors including Project A. Spryker will use the funds to expand its international footprint and support its product development initiatives, enabling it to further accelerate its profitable growth.

David Klein, Managing Partner at One Peak Partners, says, "We have been very impressed with Spryker's strong and highly profitable growth trajectory, its outstanding technology platform, and the world class founding team. The ongoing digitalization of all industries requires new technological solutions to be able to compete with the likes of Amazon. Spryker's Commerce OS ticks all the boxes to become the new global standard in both B2B and B2C, and we are particularly excited about Spryker's IoT commerce applications that tap into a market with enormous potential. We look forward to supporting Spryker's international expansion strategy and its next phase of explosive growth."

Spryker provides beyond-desktop commerce technology, available to market-leading B2C and B2B retailers, manufacturers, and brands across all industries. Starting in 2012, the technology was forged during the e-commerce boom in the light of emerging interfaces such as mobile, voice, and IoT and of a growing awareness that even today's market leaders will need to become tech-driven companies tomorrow. Spryker offers customers the ability to integrate any end-user interface or IoT device and, thanks to its state-of-the-art software architecture, increases IT productivity by a factor of anywhere between two and twenty. Spryker has sold its Spryker Commerce OS to brands including HILTI, Tom Tailor, and Lekkerland, helping them to master their digital transformation. Spryker currently employs over 100 people and has offices in Berlin and Hamburg.

"When it comes to commerce technology for enterprise organisations, Spryker has already become a household name in the German speaking markets. This investment will help us both to grow into new markets and to accelerate our product development," comments Alexander Graf, Co-CEO of Spryker. "Technology from the past cannot be the response to new digital challenges and increased expectations in respect of ROI, lean methodologies, and beyond-desktop interfaces - a fact which has already been proven by the market. As our technology has been created to address exciting opportunities such as the internet of things, voice interfaces, and Amazon-like speed and personalization, we now have an extraordinary advantage," adds Boris Lokschin, Co-CEO of Spryker.

"The demand for innovative new technology frameworks was born in leading commerce models and led to the launch of Spryker at the end of 2014 . We are impressed by the speed at which the customer base is growing, by the fact that profitability was achieved in under 24 months from start, and by the strong partner network that Spryker has built in this short time. All of this makes me confident that Spryker will go on to become one of the leading players in Europe and beyond," adds Thies Sander, Founding Partner at Project A.

About Spryker Systems GmbH
Spryker Systems is the innovator behind the unique Spryker Commerce Operating System. This commerce operating system allows companies to reach customers through every conceivable digital touch point. In response to continuous changes in user expectations and new perceptions of what is perceived as a front end, Spryker Commerce OS helps businesses to implement new user interfaces (apps) at speed. These applications range from desktop shops, mobile apps, and IoT scenarios through to chatbots, blockchain technology, and voice integration. This agile approach allows Spryker users to open up new sources of revenue without long lead times. The Spryker Systems team is based in Berlin and Hamburg.

About One Peak Partners
One Peak is a specialist private equity firm investing in growth-stage technology and tech-enabled companies. We provide growth capital to exceptional entrepreneurs with a view to transforming innovative and rapidly growing businesses into lasting, category-defining industry leaders. Its portfolio includes companies such as Coople, HighQ, EcoIntense, and DocPlanner.

About Project A
Project A is the operational VC that provides its ventures with capital, an extensive network, and exclusive access to a wide range of operational expertise. The Berlin-based investor makes use of the €260m in assets under its management to back early-stage companies in the digital technology space. With its unique organizational structure featuring 100 operational experts, Project A offers its portfolio companies hands-on support in the areas of Software Engineering, Digital Marketing, Design, Communications, Business Intelligence, Sales and Recruiting. The portfolio includes companies such as Catawiki, WorldRemit, Tictail, Spryker, nu3, KRY, and Wonderbly.

SOURCE Spryker

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Mardi 20 Mars 2018