Augsburg-based Xentral develops Enterprise resource planning (ERP) and Customer relationship management (CRM) software solutions for small and medium-sized businesses.
In a recent development, the company announced that it has raised $75M (approx €63.73M) in its Series B round of funding.
The round saw investment from Tiger Global and Meritech. Additionally, existing investors including Sequoia Capital, Visionaries Club, and Freigeist also participated in this round.
Funds to fuel UK expansion, and more
With the raised capital, Xentral will enhance its product development, hire new talents, and accelerate its UK expansion plan.
The funds will help the company to invest in R&D to fuel product advancements such as a better user experience, further expanding the AppStore, strengthening the existing ecosystems, and bringing in new partners.
In order to supply the growing customer demand and to support the upcoming product launch in the UK, Xentral plans to double its headcount by expanding its remote workforce and hiring international staff.
About Xentral
Founded by husband and wife duo Benedikt and Claudia Sauter, Xentral provides startups and SMEs with an “easy-to-use” and cost-effective ERP system. Its lean ERP solution allows companies to digitise and automate their back-end processes such as procurement, order and warehouse management, packaging, fulfilment, and accounting.
SMEs from all industries can use Xentral to access more than 1,000 functions in the areas of sales, product, logistics, finance, team, and project management. The software takes over from order processing to delivery, and offers its users an intelligent platform for organising their business areas.
For example, Xentral simplifies customer communication, automates the pick-pack-ship process, controls production, avoids errors in accounting, and offers interfaces with almost all shops, marketplaces, fulfillers, and suppliers globally.
“Our goal is that a business owner who decides on Friday that they need a flexible ERP can implement and configure Xentral over the weekend and hand it over to their team on Monday. SMEs regardless of their industry can minimise administrative overhead, maximise process efficiency, and focus on building new products and services for their customers,” says Benedikt.
Recent growth
In a statement, Xentral mentioned that it has witnessed significant traction with customer growth of approx 300 per cent since 2020. Recent product advancements include e-commerce integrations, intuitive self-onboarding, rapid localisation, as well as improved customer support and experience. The team has also developed API tools to make it even easier to create and customise applications for Xentral.
In order to take the company through its next phase of growth, Xentral has also expanded the team from 50 to more than 120 people, opened offices across Europe, including in Amsterdam, and strengthened the management team. They include:
- Berber Krop, joined as VP Global Sales and is responsible for global GTM. Previously, Krop served as Commercial Director for Klarna, a Swedish unicorn that provides payment solutions for the e-commerce sector
- Holger Ackermann joined Xentral as VP Finance & Corporate Development and has more than 20 years of experience across strategy, consulting, and finance
- Lars Stäbe, appointed as VP Operations to bring startup experience to the management team
- Sven Pirner, took over the position of Deputy General Manager. He previously worked as management and strategy consultant for Bain & Company
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