MUNICH, July 17, 2020 /PRNewswire/ — Userlane (Userlane.com) – a leading Digital Adoption Software platform – has successfully completed a $11.5 million Series B financing round led by Five Elms Capital with participation from Series A investors Capnamic, High-Tech Gründerfonds (HTGF), and main incubator, early-stage investor of Commerzbank Group. The investment will fuel Userlane’s U.S. and European expansion and accelerate product development with the goal of helping enterprises around the world improve adoption of the growing number of software solutions crucial to running an organization.
“We see that – especially given current market conditions – our customers are introducing software solutions to manage an increasingly remote workforce. Each of these customers is relying on Userlane to help employees adopt software faster and to effectively handle the increased demand for software support. With this new investment, we are able to expand our presence globally and accelerate our product roadmap, all while providing our customers with optimal support across different markets and time zones,” says Hartmut Hahn, CEO of Userlane.
Joe Onofrio, Partner at Five Elms Capital adds, “The need for digital adoption solutions is growing exponentially as enterprises deploy more and more software to manage an increasingly complex and distributed workforce. Hartmut and his team have fostered an incredible culture, and built an impressive product, all with limited resources. We are excited to help the company build upon the foundation of success and significantly increase its market presence.”
Userlane has seen a surge of demand since March
Despite this time of economic uncertainty, the number of companies that rely on Userlane’s technology has been increasing rapidly. In addition to fast-growing technology companies such as Celonis, Personio, and Freighthub, large global organizations such as Beiersdorf, Linde, and Allianz started working with Userlane to empower their users and employees.
At the core of Userlane’s technology are interactive step-by-step guides that layer on top of any browser-based software. These guides can be built with no technical knowledge and lead users through complex processes directly in the application. In contrast to video tutorials, Userlane communicates live with software users by using automatically gathered data from the underlying application to guide them through hundreds of actions. Users, through their own actions, can learn how to complete any task within the software platform, which in turn, increases adoption.
The trend towards an increasingly remote workforce and the costs associated with the introduction of software to manage a more complex organization put companies under enormous pressure. Userlane has been purpose built to help companies accelerate their digitization efforts and drive efficient and accurate software adoption. With Userlane, customers reduced their training and support costs by up to 75%, rolled out new software and/or processes three times faster and onboarded end-users in half the time. Userlane’s platform has and will continue to help companies be more agile and react quicker to new challenges.
Userlane is an award-winning digital adoption platform that helps companies around the world to maximize the adoption and use of software. By implementing interactive in-app tutorials and real-time contextual support Userlane helps users to become familiar with new software. With over 200 customers globally, the company is one of the top 50 tech start-ups in Europe and ranks 26th on the FAZ list of top German companies. Further information can be found at www.userlane.com.
About Five Elms Capital
Five Elms Capital is a global investor in fast-growing B2B software businesses that users love. Five Elms provides capital and resources to help companies accelerate growth and further cement their role as industry leaders. For more information, visit www.fiveelms.com.
About Capnamic Ventures
Capnamic Ventures (www.capnamic.com) is one of Europe’s leading early-stage Venture Capital firms, with offices in Berlin and Cologne. The VC invests most of its funds in tech startups in the German-speaking region. Capnamic also joins forces with international co-investors. All portfolio companies are supported through Capnamic’s global network of investors and industry partners. The vast expertise of the Capnamic team includes more than 80 investments, a high turnover of successful trade sales and IPOs, as well as a strong entrepreneurial track record within the investment team.
For more details: www.capnamic.com.
About main incubator
main incubator is the research & development unit and the early-stage investor of Commerzbank Group. It examines future technologies of relevance to business and society, as well as promotes and develops sustainable products, solutions and infrastructures. Through strategic investments in tech-driven start-ups, main incubator already supports innovations at an early stage and makes them available for Commerzbank and its customers.
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. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas.
SOURCE Five Elms Capital