Rencore secures €7.5 million to strengthen cloud collaboration

Munich-based startup Rencore receives €7.5 million to strengthen cloud collaboration governance. The funds are to drive the further development of its solutions.

Munich - Munich-based startup Rencore has successfully closed a €7.5 million funding round. The move was led by UVC Partners, with existing investor Cologne-based Capnamic, which already invested €3.75 million 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 aim to provide every employee with the optimal digital collaboration infrastructure that maintains the balance between security and efficiency, regardless of the cloud service used.

Matthias Einig, CEO and co-founder of Rencore

The funding round comes amid rapidly growing global demand for cloud collaboration governance solutions. These solutions are becoming increasingly critical in light of the new work reality characterized by home office and remote work options. The use of online collaboration platforms increased by a staggering 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 broaden our offering to enterprises.

Torsten Mandelkow, CAA and co-founder of Rencore

Rencore specializes in helping enterprises maintain control of their cloud services and organize them to meet their needs. With their 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 growing steadily, whether due to new working models, the trend towards hybrid working or environmental considerations. However, more and more companies see the challenges in making the use of cloud services secure, efficient and compliant.

Oliver Schoppe, Principal at UVC Partners

UVC Partners is a Munich and Berlin-based early-stage venture capital firm that invests in European B2B startups in the areas of enterprise software, industrial technologies and mobility. The fund typically invests between €0.5 and €10 million initially and up to €30 million 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.