German startup Flip, the employee messenger app, has successfully raised €3.6 million in one of Europe’s largest seed rounds. The round was led by LEA Partners and Cavalry Ventures, as well as being supported by prominent business angels, and will go towards the expansion of the team and development in further markets.
Founded in 2018, Flip is one of the simplest and most efficient ways for employees to communicate and network among each other. The Flip platform bundles together communication, information and processes into one application, which is not only GDPR and works council compliant, but also is also easy to use. Flip can also act as a mobile endpoint for the intranet and thus enable desktop and non-desktop employees equal access to information. Its customers already include major companies like Porsche, Bauhaus, Edeka, Junge IG Metall, and Wüstenrot & Württembergische.
The main investors LEA Partners and Cavalry Ventures invested in the company together with Plug and Play Ventures, alongside business angels such as Jürgen Hambrecht (Chairman of the Supervisory Board BASF), Professor Dr. Kurt Lauk (Chairman of the Supervisory Board Magna International), Florian Buzin (Founder Starface) and Andreas Burike (HR Business Angel).
Flip’s founder and CEO, Benedikt Ilg, commented, “Flip is the easiest solution for internal communication in companies of all sizes. We are proud of the development of our company to date and see this investment as confirmation of our vision”.
Bernhard Janke from LEA Partners commented on the investment, “As a young company, Flip has been able to attract prestigious clients. The lean solution can be integrated into existing IT systems and existing communication processes, even in large organisations. With the financing round we want to further expand the team and product and thus support the founders in their vision of making digital workforce engagement accessible to all companies.”
Claude Ritter of Cavalry Ventures said, “We are convinced that Flip is setting new standards in this still young market with its safe, lightweight and extremely powerful product”.