High Tech Gründerfonds (HTGF) and Bayern Kapital invest in Cunesoft GmbH
October 28, 2014
Cunesoft GmbH, an innovative cloud software provider for regulatory document and submission management, specialized in the pharmaceutical industry, today announced that it successfully closed an investment round with High-Tech Gründerfonds and Bayern Kapital. The funds will be used to further internationalize sales activities as well as to expand the software’s capabilities.
Within the pharmaceutical industry, the filing of the drug submission dossier involves critical and regulated processes. Complying with these regulations remains a challenge for the industry. In particular, small and medium-sized companies experience severe challenges due to the unavailability of a suitable software solution that seamlessly combines document management and submission publishing. Such software however is necessary in order to meet regulatory requirements on one hand while remaining competitive through a secure and fast drug approval process on the other hand.
Cunesoft now provides an integrated online regulatory software solution for effective submission document preparation as well as eCTD (electronic Common Technical Document) drug submission publishing, specifically suited for these customers. As the first European-based provider of a SaaS (Software as a Service) model, Cunesoft allows all customers to benefit from immediate system availability. „Competing solutions require a months-long implementation phase, whereas our customers can start using the software immediately. Compared to other solutions on the market, up to 90% in time savings can be achieved during the submission process via Cunesofts’ embedded automated processes“, says Rainer Schwarz, CEO and founder of Cunesoft.
The positioning of Cunesoft is hence attractive for companies of different sizes. While smaller customers enjoy an attractive entry-level pricing model, larger organizations benefit from the scalable licensing model. At present, mainly drug manufacturers from emerging countries, biotechnology companies, generic drug companies and pharma originators are satisfied and referenceable customers of the Cunesoft online software platform.
“The founder team has created the ideal base for further growth. Cunesoft’s innovation addresses actual needs in the market. Reference calls with existing customers were convincing. We are looking forward to supporting Cunesoft on their way to success”, comments Dr. Christian Jung of High-Tech Gründerfonds.
Daniel Koppers, CTO and founder will, together with Rainer Schwarz, develop the company further. “We are excited about having won High-Tech Gründerfonds and Bayern Kapital as investors”, say both founders. “The funding will allow us to include important collaborative features into the software. For example, a direct connection of the Cunesoft online platform with authority submission portals will be completed. Another area of functional expansion is the secure collaboration and sharing of our customers documents and dossiers with their external suppliers and customers.“
“The expertise of the founding team combined with the already very mature technology will enable rapid business growth”, says a convinced Wolfgang Dengler from Bayern Kapital.
Cunesoft GmbH is a European leader in cloud-based regulatory software solutions and services for all segments within the life sciences industry. Cunesoft’s Software as a Service (SaaS) modules are lean but provide a solid functional spectrum based on industry best practices. Compliance requirements are fulfilled while the software can be made available and productively used within 24 hours. Cunesoft is already being used globally by small and medium-sized organizations as well as by divisions within multinational pharmaceutical companies. Reliability, security, compliance and continous innovation are key areas of Cunesoft’s offering.
About Bayern Kapital
Bayern Kapital was set up in 1995 as an initiative of the Bavarian state government, aimed in particular at providing venture capital to young, innovative Bavarian companies. To date, Bayern Kapital has invested about €195 m in over 225 innovative, high-tech companies. Bayern Kapital is available as a contact for businesses in the region and currently manages an overall fund volume of about € 200 m.
About High-Tech Gründerfonds
High-Tech Gruenderfonds 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 Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing rounds. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, 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 Gruenderfonds has about EUR 576 million under management in two funds (EUR 272 million HTGF I, EUR 304 million HTGF II).