100 million dollars for the Freiburg start-up Jedox

Software provider Jedox receives 100 million dollars in a new financing round, led by Insights Partners.

Fewer Excel spreadsheets, more clever solutions thanks to artificial intelligence: this is made possible by software provider Jedox. The start-up offers enterprise performance management (EPM) as a cloud solution for planning and analyzing companies. Jedox has now raised 100 million dollars. The aim is to improve the offering and drive global expansion. From this year onwards, the Freiburg-based start-up is planning industry-specific solutions that go beyond applications in finance and controlling departments. Jedox's global customers include Amazon and ABB; according to the company, it has a total of 2,500 customers in 140 countries. In 2018, the company's turnover amounted to 23 million euros.

The financing round is led by venture capitalist Insight Partners. According to the Handelsblatt a possible IPO could also be prepared. CEO Florian Winterstein called Insight Partners the "partner of choice." Tech investor Paul-Josef Patt, a long-standing existing investor, told Handelsblatt: "Jedox has the potential to become a unicorn with a billion-dollar valuation. We are already well on the way there."

Jedox was founded in Freiburg in 2002 and attracted its first financial investors in 2008. It now has nine global locations, with Seattle being added last year. The company is still headquartered in Germany.