Low-code provider Ninox continues to grow and gains new investors, led by Hi Inov and VI Partners
Berlin-based B2B SaaS start-up expands its market position among SMEs and successfully closes financing round for another € 8 million.
Low-code platforms are expected to accelerate the much-heralded digitalisation of the SME economy. With more than 6,500 customers worldwide and high double-digit growth rates, Ninox is one of the leading providers in the DACH region (Germany, Austria and Switzerland). In order to sustainably implement its growth strategy, the Berlin-based start-up has now brought on board two more renowned European VC investors, Hi Inov and VI Partners.
(Berlin, 27.04.2022) The experts of the US market research institute Gartner describe « low-code » as one of the most important technology trends worldwide. In particular, SMEs with limited IT resources benefit from the new possibilities to develop individual solutions for digitalising their business processes in the shortest possible time without programming skills.
The Berlin software start-up Ninox has specialised in this target group with its low-code platform of the same name and is registering steadily growing demand from almost all sectors. Construction, trades and manufacturing are particularly well represented, with the focus on CRM, HR and project management in the application areas. Where in the past people improvised with various tools and Excel spreadsheets on a departmental and task-related basis, with Ninox they now use lean, cost-effective software solutions that are precisely tailored to the individual requirements of the companies.
Low-code also for business-critical processes
For example, the leading prefabricated house manufacturer KAMPA now organises essential core processes, including the coordination of its construction projects, completely with Ninox. KNAUER, a hidden champion in scientific measuring instruments, also controls its worldwide sales activities with a Ninox solution. In both cases, the solution was largely developed in-house. Employees from the relevant departments were actively involved in the development process. »
This is exactly the kind of scenario IT specialist Frank Böhmer had in mind when he founded Ninox in 2013: « Companies are faced with the choice of either using inflexible standard software or investing in expensive, lengthy in-house developments with uncertain results. I wanted to change that with Ninox and create a system that is so easy to learn that end users in the company can use it to develop their own solutions – without programming knowledge and long training periods. »
Implement digitalisation projects in SMEs even faster
And Ninox wants to make it even easier for companies to implement their own digitalisation projects in the future. The Ninox Industry Kits are currently being developed: industry and task-specific templates that companies can easily adapt to their processes in order to achieve their individual solution even faster. In addition, the existing network of partners is to be expanded, which will support customers with qualified services in the initialisation or implementation of their Ninox projects.
Against the background of the high catch-up demand for the digitalisation of medium sized companies in the DACH region, this strategy has also convinced investors. With Hi Inov and VI Partners, two renowned VC investors were brought on board to finance the growth course together with the existing investors to the amount of € 8 million. The existing investors around the btov Industrial Tech Fund and IBB Ventures, as well as the founders, remain involved.
Investors see great growth potential
« Ninox is already an excellent product with high customer value. The focus on the needs of medium-sized companies and the dedicated verticalization will give the development of the business a further boost, » says Wolfgang Krause from Hi Inov, explaining the commitment. And Joe Neale from VI Partners adds: « The market for low-code platforms is growing rapidly. We are convinced that Ninox can not only hold its own, but also expand its good position internationally. »
The btov Industrial Tech Fund had already invested in Ninox in 2019 and IBB Ventures in 2020, contributing to the expansion of the low-code platform into a successful solution for SMEs. With the new investment, Ninox can now take the next big step, further optimise its product and significantly increase its market share in the DACH region, and later also in Western Europe and North America.
About VI Partners
VI Partners is the longest-established Swiss VC firm. For more than 20 years, VI Partners has been supporting innovative Technology and Healthcare companies, investing over CHF 250m in over 50 ventures. VI Partners initially has been advising Venture Incubator fund, an investment vehicle founded by ten blue-chip Swiss corporations, and more recently established VI Partners Swiss Innovation Fund.
About the btov Industrial Technologies Fund
btov Industrial Technologies is a VC fund managed by the former btov Industrial Technologies – now Matterwave Ventures – team and is focused on European early-stage industrial hardware and software companies, empowering them to become global leaders. The focus lies on solutions that shape the future of industrial value creation, driven by software and hardware innovation – from materials to components to systems to software. The team supports portfolio companies with a genuine interest in their products, deep market knowledge, strong industry connections, and unparalleled investment experience in the sector.
With a fund size of EUR 100m btov Industrial Technologies typically participates in Seed and Series A investment rounds across Europe with initial investments between EUR 1-3m.
Including follow-on financing rounds, up to EUR 10m per portfolio company can be invested.
About IBB Ventures
IBB Ventures has been providing venture capital to innovative Berlin-based companies since 1997 and has established itself as the market leader in early-stage financing in Berlin. The funds are primarily used for the development and market launch of innovative products or services as well as for business concepts in the creative industries. Currently, two funds with a total volume of € 122 million are in the investment phase. Both VC funds are financed with funds from Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF), administered by the State of Berlin. IBB Ventures has already invested in more than 260 Berlin-based creative and technology companies; in consortia with partners, the start-ups received more than € 1.7 billion, of which IBB Ventures invested more than € 250 million as lead, co-lead or co-investor. IBB Ventures is the parent brand for the VC activities of IBB Beteiligungsgesellschaft. »