Company secures funding from investors to support global go to market and product capability deepening
Singapore, Munich, 4 October 2017 – In Mind Cloud Pte Ltd (“In Mind Cloud” or “the Company”), the developer of CRM and CPQ software for manufacturing industries, today proudly announced their successful later stage Series A financing round. Investors are a consortium of capital management firms FCM and MXL, based out of Dusseldorf and Munich, Germany.
Whilst the parties have agreed not to disclose exact details around the volume of the transaction, In Mind Cloud confirms that the funding will enable an aggressive regional and technology expansion over the months and years to come.
In Mind Cloud’s CEO Dr. Christian Cuske states: ”As we are firmly pursuing a SaaS hyper-growth model, external investment is essential for speed. However, we prefer investment partners with a strong industry network and given trust into our independent growth path – both of which we found in our new investors. They do not only provide the required financial backing but also a perfect network all the way into China for our global expansion strategy.”
In the upcoming months, In Mind Cloud is planning to make some major strategic moves. First and foremost, the Company will further grow their sales and business development teams in Europe and Greater China, followed by the logical next step of a direct market entry into the US. Several other measures are planned to upscale the Company’s delivery capabilities to cater for their increasing global customer base and a deeper partner support. Further investment will be spent on In Mind Cloud’s core CRM and CPQ platform towards surpassing market standards of sales software for manufacturing businesses.
Sebastian Osing, Managing Director at FCM is convinced “In Mind Cloud has a huge asset in its manufacturing expertise and SAP background, underpinned by a strong network and customer base. With the digitalization of sales in manufacturing industries, there is no way around CPQ, which is why we chose to fund In Mind Cloud.”
Dr. Alexander Blum, partner at MXL emphasizes: “We are always looking to invest in companies with strong, global growth opportunities and a given maturity, both of which In Mind Cloud represents in a highly dynamic market setting.”
Dr. Christian Cuske, CEO at In Mind Cloud adds: “With our vision of making sales successful and profitable for manufacturing companies through CRM and CPQ software, we are looking forward to double our own revenue in the next 12 months.”
As required under Singapore law, resulting formal changes within the board of directors will be published via the official company’s registrar.
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