Cunesoft receives a seven-digit Series-A financing from Occident Group, High-Tech-Gruenderfonds and Bayern Kapital
The Munich based Cunesoft GmbH, an innovative software provider of cloud-based regulatory master data management solutions for the pharmaceutical industry, today announced that it has successfully completed an undisclosed seven-digit series-A financing round. The participants in this new round of financing included the Swiss based lead investor Occident Group and the existing investors High-Tech-Gruenderfonds and Bayern Kapital, who also previously invested in Cunesoft in October 2014.
The company will use the funds to further accelerate international growth, especially in the USA and Asia, with investments into technology, local sales activities, customer support and the international sales network. The software-as-a-service (SaaS) company is already well positioned in many markets, with local offices in Germany, France and India. Further investments will allow the entrance into new and strategically important markets.
“We are very happy that our existing investors are firm believers in Cunesoft. Together with the Occident Group, we have found an internationally well connected partner”, says Rainer Schwarz, founder and CEO of Cunesoft. “The new funds will accelerate our international growth and enable us to address top-250 pharma-and life science customers more effectively. To-date, the company has been focused on small-and medium sized companies. However, with additional and unique software-modules, Cunesoft is increasingly gaining interest from multinational corporations.”
“With innovative technology and flexible solutions, Cunesoft plays an important role within a very interesting and steadily growing global market. Cunesoft provides a true SaaS solution for regulatory document- and submissions management. Software modules based on artificial intelligence solve complex problems within seconds, provide support to global clients in day-to-day business and significantly improve cost and time savings. As venture capital investors, we are constantly looking for companies that are able to bring lasting market changes via innovations and thus generate considerable competitive advantages – Cunesoft and its team convinced us from the beginning and we are looking forward to be part of it”, adds Michael Pauer, Investment Director at Occident Group.
“We are more than ever convinced that Cunesoft is well on its way to achieving a market-leading position within this competitive environment. Numerous companies face a range of regulatory challenges every day and do not use any software or combine partly compatible solutions. In contrast, Cunesoft offers a unique “single source of truth” solution, i.e. one software for the entire regulatory process“, says Dr. Bernd Goergen, Investment Director Life Sciences & Healthcare at High-Tech-Gruenderfonds.
The strictly regulated marketing authorisation process for medicinal products requires the highest compliance standards. The complex processes not only represent a growing challenge for pharma and life science companies but also for biotechs and API (Active Pharmaceutical Ingredient) producers. Authorities will publish new regulations in the upcoming months and encourage companies to shift from paper-based processes to electronic software-solutions. “The modular SaaS-concept offered by Cunesoft is of interest to companies of any size and supports clients to operate competitively”, reveals Wolfgang Dengler, Senior Investment Manager at Bayern Kapital.
Cunesoft GmbH is a provider of regulatory master data management software and services for all segments within the life sciences industry. Solutions include management of eCTD, xEVMPD, IDMP data and document management as well as regulatory information management (RIM). Software provisioning is provided as Software as a Service (SaaS). The company is headquartered in Munich (Germany) with international offices in France and India.
About Occident Group
Founded in 1993, Occident Group is a privately held holding and investment company located in Zug, Switzerland. The company actively invests in real estate projects and companies in order to support their innovation and growth. The company is focused on companies within selected industries and on real estate financing of individual projects (developing projects and investment properties).
Occident Group invests in sustainable, attractive long-term projects with meaningful innovations and a realistic value-add. The people involved in the projects are always in the foreground – on the one hand as reality-oriented entrepreneurs and on the other hand as a part of the team and a valuable contribution to the joint success. Occident Group acts as a fair-minded investor and contributes more than just financial support.
About Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was founded on the initiative of the Bavarian government in 1995. It is a wholly-owned subsidiary of the Bavarian LfA Förderbank . As the venture capital organisation of the Land of Bavaria, Bayern Kapital provides equity capital financing for the founders of young innovative technology companies in Bavaria. Presently Bayern Kapital manages eleven investment funds with a total volume of around €340m. So far, it has invested almost €220m in 240 innovative companies in the fields of technology in various sectors including life science, software & IT, medical technology, materials and new materials, nanotechnology and environmental technology. In this way, more than 5000 long-term jobs in sustainable companies have been created in Bavaria.
About High-Tech Gruenderfonds
About High-Tech Gründerfonds High-Tech Gründerfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gründerfonds invests EUR 600,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Energy, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, Bayer, B. Braun, Robert Bosch, CEWE, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gründerfonds has about EUR 576 million under management in two funds (EUR 272 million HTGF I, EUR 304 million HTGF II).
High-Tech Gruenderfonds Management GmbH
Dr. Bernd Goergen
Tel.: +49 (228) 823 001-36
Fax: +49 (228) 823 000-50