Rencore secures €7.5 million to strengthen cloud collaboration

Munich-based start-up Rencore receives 7.5 million euros to strengthen cloud collaboration governance. The funds will be used to drive the further development of its solutions.

Munich - Munich-based startup Rencore has successfully closed a €7.5 million financing round. This move was led by UVC Partners, with existing investor Capnamic from Cologne, which already invested 3.75 million euros in Rencore in 2022, also extending its support. The fresh capital will be used to expand Rencore's cloud collaboration governance offering and establish itself in a rapidly growing market.

We want to provide every employee with the optimal digital collaboration infrastructure that balances security and efficiency, regardless of the cloud service used.

Matthias Einig, CEO and co-founder of Rencore

The funding round comes against a backdrop of rapidly increasing global demand for cloud collaboration governance solutions. These solutions are becoming increasingly critical in the new reality of working from home and remote work options. The use of online collaboration platforms increased by an astonishing 322 percent between 2019 and 2020 (source: Comscore). Today, 99 percent of remote workers already use an average of 4.8 different communication and collaboration services (source: IDC).

With the support of UVC Partners, we can expand our business and extend our offering for companies.

Torsten Mandelkow, CAA and co-founder of Rencore

Rencore specializes in helping companies take control of their cloud services and organize them according to their needs. With its fresh capital, the company plans to further develop its cloud collaboration governance solutions and position itself as a leading provider in this market.

The demand for cloud-based forms of collaboration is constantly growing, be it due to new working models, the trend towards hybrid working or environmental protection aspects. However, more and more companies are finding it challenging to make the use of cloud services secure, efficient and compliant.

Oliver Schoppe, Principal at UVC Partners

UVC Partners is an early-stage venture capital firm based in Munich and Berlin that invests in European B2B start-ups in the fields of enterprise software, industrial technologies and mobility. The fund generally invests between 0.5 and 10 million euros at the outset and up to 30 million euros in total per company. The portfolio companies benefit from the investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, a leading innovation and start-up center in Europe.