Xentral Software, the brainchild of Claudia and Benedict Sauter from the southern German city of Augsburg, may be aimed at smaller businesses. But the waves it’s making are surprisingly big.
The Sauters have just taken in USD 75 million in venture capital for their company, which produces software to help firms manage orders, material and stocks. “SAP for SMEs,” they call it.
The couple initially developed the software to better manage their own online shop, but it’s really taken off this year. The company is currently valued at around USD 750 million. It’s increased its employees from 50 to 120, opened a location in Amsterdam and hopes to triple its revenue this year. Plans are also underway to expand to Britain.
There are some 23.5 million SMEs in Europe. One of the new investors predicted to German newspaper Handelsblatt that xentral would become “a platform critical for ecommerce dealers to do business.”