Userlane, the Munich-based startup for a “digital adoption solution,” has closed growth financing of 10 million euros. Five Elms Capital, a VC specializing in fast-growing B2B software companies, led the round. In addition to the US investor, existing investors such as Capnamic, High-Tech Founders Fund (HTGF) and Main Incubator.
Corona crisis increases demand for Userlane's Digital Adoption Solution
With this capital injection, Userlane aims to drive international expansion and accelerate product development. The Munich-based startup aims to help companies worldwide improve the adoption of software solutions. Userlane's business model offers significant added value, especially at this time. Due to the coronavirus crisis, many companies have introduced new software solutions to manage a workforce that is more focused on home office and remote work.
The Munich-based company's Digital Adoption Solution helps employees use software faster and better manage requests for software support.
Hartmut Hahn, CEO of Userlane, comments:
“With this new investment, we are able to expand our international presence and accelerate our product roadmap while providing optimal support to our customers across different markets and time zones.”
“Extremely talented team” to conquer the US market
Investors see an exponentially growing need for digital software implementation solutions to manage increasingly geographically dispersed teams. Joe Onofrio, Partner at Five Elms Capital, adds:
"Hartmut and his team have brought together an extremely talented team, fostered an incredible culture, and developed an impressive product, all with limited resources. We are excited to help the company build on its foundation of success and significantly increase its presence in the US market."
Userlane was able to increase its user numbers despite the economic uncertainty during the Corona crisis. In addition to fast-growing tech companies such as Celonis, Personio and Freighthub, major companies such as Beiersdorf, Linde, and Allianz have begun working with Userlane. Userlane plans to gain a stronger foothold in the US market over the next twelve months.
Interactive guides increase acceptance and reduce costs
The technology allows interactive step-by-step guides to be overlaid on any browser-based software. These guides can be created without prior technical knowledge and guide users through complex processes directly within the application. Instead of simple video tutorials, Userlane communicates live with software users. Users can learn how to complete each task within the software platform through their own actions, which in turn increases software adoption.
Userlane helps companies support remote teams, accelerating digitalization within companies. The Munich-based startup's existing customers have been able to reduce their training and support costs by up to 75 percent and implement new software or processes three times faster.
