Operations1 Raises €11.1 M For The Development Of Its Management Software
Frankfurt-based startup Operations1 nets funding of €11.1 M for its Management software that facilitates the connection between employees and manages operations.
The Global workflow management software market size by 2028 is forecasted to reach the Compound Annual Growth Rate (CAGR) of 30.6%. This is one of the main reasons that investors are pouring down their money in workflow management software and Europe has become the budding market for it. Last year, the startup Spectaflow, which facilitates hotels in managing their operational functions raised 1.7 Million Euros. However, as of yesterday Operations 1, the cloud software startup aiming to facilitate the companies in employing and developing adaptive employee-led production processes nets funding of €11.1 million.
The startup raised funding from well-known business angels like Kulpreet Singh and Michel Fuellmann. Other than this, its existing investors 42cap from Munich, Cherry Ventures from Berlin also funded the startup. The investment round although was led by Open Ocean.
Operation1 was founded in 2017 by Benjamin Brockmann Co-founder and CEO, Daniel Grobe Co-founder and CCO and Anian Ziegler Co-founder and CPTO. It offers dynamic software that provides processual knowledge, aggregates real-time data, and automates time-consuming tasks across all the operational workflows.
Additionally, it also automates the admin tasks to save time and cost and also helps companies in gathering data which aids them in maintenance and audit processes. Therefore, the companies can become more flexible, and continuously improve the way they operate.
The pandemic around the globe has brought abrupt change across the industries, and the need for companies to go digital has increased immensely more than ever. This has essentially caused an exponential rise in software and mobile app development. The companies due to the competitive pressure are also looking for avenues to digitalize their business.
Benjamin Brockmann, CEO at Operations1 in regards to digital transformation said: “With many manufacturing companies still using paperwork in production today, it comes as no surprise they are struggling to compete against digital-savvy competitors as it blocks the possibility of making data-based decisions for continuous improvements. At Operations1 we empower operational workers and the company through intuitive, highly flexible software that can help navigate the turbulent and ever-changing challenges ahead.”
The startup will use this hefty amount of investment in the expansion of its team internationally and further develop its product.