The UnternehmerTUM fund, Seventure Partners, and existing investors Senovo and KfW are investing €2.75 million in Munich-based VEACT GmbH as part of a Series A financing round. The company plans to use the funds to further develop its products and expand sales.
The company develops and markets a software-as-a-service (SaaS) platform for analyzing and automating marketing processes in the automotive trade. With self-learning technology and broad automotive expertise, VEACT supports its customers in making marketing and sales processes more efficient through data. To do this, VEACT leverages all available data sources – invoices, service histories, satisfaction surveys, and campaign data – and aggregates them into a customer profile. The goal is to qualitatively process this information so that individual customer profiles and recommendations for action can be created. Car dealerships and manufacturers benefit from lower process costs, improved customer loyalty, and thus higher sales.
"We've known the team since its early beginnings," says Johannes von Borries, Managing Partner of the UnternehmerTUM fund. "VEACT is a successful example of the evolution from a pure SaaS model to managed services that offer customers cloud intelligence, including the efficient outsourcing of entire processes. The team is very well positioned to leverage this huge market potential."
In the past twelve months, VEACT has more than doubled its customer base to over 500 dealership locations.
About VEACT:
VEACT GmbH develops and markets a software-based platform for digitizing marketing processes in the automotive trade. With self-learning technology and extensive automotive expertise, VEACT supports its customers in making marketing and sales processes more efficient through data. To do this, VEACT utilizes all available data sources – invoices, service histories, satisfaction surveys, and campaign data – and consolidates them into a customer profile. The goal is to qualitatively process this information so that individual customer profiles and recommendations for action can be created (predictive customer intelligence). Car dealerships and manufacturers benefit from lower process costs, improved customer loyalty, and thus higher sales.
