100 million dollars for the Freiburg start-up Jedox
Software provider Jedox receives $100 million in a new round of funding, led by Insights Partners.
Fewer Excel spreadsheets, more clever solutions through artificial intelligence: This is made possible by the software provider Jedox. The start-up offers so-called Enterprise Performance Management (EPM) as a cloud solution for enterprise planning and analysis. Jedox has now raised 100 million dollars. This is intended to improve the offering and drive global expansion. Starting this year, the start-up, headquartered in Freiburg, Germany, plans to offer industry-specific solutions that go beyond applications in finance and controlling departments. Globally, Jedox's customers include Amazon and ABB, and the company says it has a total of 2,500 customers in 140 countries. In 2018, the company's revenue was 23 million euros.
The financing round is led by venture capitalist Insight Partners. According to estimates by the Handelsblatt also prepare for a possible IPO. CEO Florian Winterstein called Insight Partners the "partner of choice." Tech investor Paul-Josef Patt, as a long-time portfolio investor, tells Handelsblatt: "Jedox has the potential to become a unicorn with a valuation in the billions. We're already well on our way to getting there."
Jedox was founded in Freiburg in 2002 and was able to attract its first financial investors in 2008. It now has nine global locations, adding Seattle last year. Its headquarters are still in Germany.
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