German climate tech SaaS startup Reonic raises €13M Series A led by Northzone; plans to continue hiring

Augsburg-based Reonic, a climate tech SaaS startup, has secured €13M in a Series A round of funding. The round, led by Northzone, also includes contributions from existing investors Point Nine and Puzzle Ventures.

Northzone mentions in a statement that Europe has over 200,000 SMEs specialising in renewable energy technology installation for buildings, but these businesses often struggle with outdated, non-specialised software. 

Reonic addresses this gap with its end-to-end software suite, offering solutions for lead management, CRM, project design, procurement, and billing. 

Founded in 2021 by Tristan Menzinger, Lars-Manuel Schneider, and Udo Sill, Reonic is a climate tech SaaS company that began as a side project and grew into a full-fledged business due to high demand from installers for a tailored digital solution.

The company’s software serves as an end-to-end operating system, streamlining workflows and supporting over 200,000 regional installers across Europe to drive the energy transition.

Funds to expand across Europe

Reonic aims to advance the deployment of sustainable energy solutions across Europe. With offices in Augsburg and Berlin, the startup has raised a total of €16M, including the latest round.

The company, which recently opened a second office in Berlin, claims to have tripled its recurring revenue in the past six months.

The funds will help the startup expand into neighbouring European markets, starting with France, enter the commercial PV market and cover heat pumps and energy storage systems. Reonic will also support further growth of its team, which currently has 21 members.

Co-founder Schneider, says, “Renewable technologies are one of the fastest growing markets in Europe, which is almost exclusively served by independent installers across the continent, which almost always lack digital tooling.

“Our goal is to enable these installers to compete, grow, and win. First, by creating best-in-class software as the backbone of their workflows. And second, by offering adjacent services in procurement, payment, financing, and beyond.”

“Though we’ve had some real momentum since we started the business three years ago, in truth, we feel like we’re just getting started. We couldn’t be happier having Northzone, Point Nine, and Puzzle Ventures in our corner to help propel us, and our customers, to the next level,” adds Schneider.

What the investors had to say?

Markus Gleim, Principal at Northzone, says, “The energy transition is one of the most significant challenges and opportunities of our time. Reonic is at the forefront of this movement, offering a solution that not only simplifies the adoption of renewable technologies, but one that also drives significant progress towards a more sustainable future.”

Jessica Schultz, Partner at Northzone, adds, “Reonic’s end-to-end software is precisely what installers have been searching for. It streamlines workflows and provides the digital tools necessary to manage the increasing complexity of renewable energy projects.”

“We believe that the team with their complementary skillset is uniquely positioned to build the category-leading software solution in this space. We are excited to support Reonic as they continue to innovate and empower installers across Europe.”