Pioneer of the device-as-a-service model, everphone has just announced a €32 million expansion of its Series C funding. The Berlin-based team is now sitting in a healthy financial position to keep up with its fast-paced growth and expand into new markets.
Having access to a work mobile or tablet is now a fairly standard practice across Europe. Partly fueled by the rise of hybrid and remote working in tandem with the push for employers to offer more perks to employees, as well as the heightened need for data security, companies are increasingly faced with the need to provide team members with devices that meet a multitude of criteria.
Pioneering the B2B device-as-a-service market, everphone has just extended its Series C funding, marking a strong sign of confidence in its business model and fueling growth plans. The startup offers businesses an easier way to distribute and manage mobile devices across their team and is helping contribute to a circular electronics market.
Jan Dzulko, CEO and founder of everphone: “Our mission is to enable companies to improve their daily operations and to act more environmentally friendly as part of the circular economy. The extended funding round supports us to advance this mission further.”
Today, the Berlin-based startup has announced a €32 million extension to its Series C round and its valuation is anticipated to grow significantly as a result. The startup picked up €34 million back in 2020 for its Series B round and has continued to grow steadily since.
Cadence Growth Capital (CGC) led the Series C extension round and continues to invest alongside existing investors such as Kevin Ryan. Additional investors include Deutsche Telekom, signals Venture Capital and Dr. Henrich Blase. With the new capital, the company has ample cash to fund its growing core business.
Dr. Veronika von Heise-Rotenburg, CFO and Managing Director of everphone: “We are delighted that our service is attracting a lot of interest from prospective customers as well as delighting our existing customers and investors, creating lasting partnerships.”
Since 2016, everphone has been pioneering the DaaS sector. The scaleup offers companies flexibility, reliability, and an easier way to manage smartphones, tablets, and laptops. From procurement and configuration to setup, maintenance, and return, everphone has every phone (and device) need covered.
The service not only removes the hassle from internal IT departments but also reduces CO2 emissions and waste, creating a more sustainable way of using devices. It helps extend the lifecycle of mobile devices and encourages a circular approach to electronics.
Founded by former CHECK24 executive Jan Dzulko, the German company now employs over 250 people worldwide and customers range from startups to global enterprises. The company’s 2021 annual report recorded impressive growth stats, reporting €19 million in revenue – a 170% increase year on year, and this is expected to continue.
The management team of CEO Jan Dzulko and CFO Dr. Veronika von Heise-Rotenburg plans to use the proceeds of this funding round to drive internationalization. Additionally, the new capital will flow into product development and the growth of the device fleet.
Leonard Clemens, Co-Founder and Managing Partner of Cadence Growth Capital (CGC), added: “Our long-term support shows that we see great potential in everphone. We proudly support the successful development of the company with the full team at CGC and are very satisfied that big enterprise customers such as Henkel have entered into long-term contracts with everphone. We also believe in the global roll-out of the successful everphone model with the first significant customer win in 2022 in the US.”