High-Tech Gründerfonds invests in the COREDINATE GmbH
Up to now, special and upscale hardware was required to document the work done in the security business. With traditional systems, the high subsequent cost in the back office was quite common due to the necessity of preparing the data first. In the future, with the system developed by the startup company COREDINATE GmbH at Uffenheim just having a smartphone will be good enough. This will totally eliminate the time-consuming data collection. The High-Tech Gründerfonds invests in this innovative solution for security services and is accompanied by BayernKapital as well as by a consortium of Business Angels.
Security services are using special hardware, so-called “Security guard control systems”, which the security guard uses to document his presence at private and confidential areas of the company by scanning a checkpoint. Beyond the pure documentation function, these devices do not have any further added value that supports them, but are cost-intensive when purchased and need to be mostly read manually.
On the other hand, COREDINATE does not only render a standard smartphone to a fully adequate security guard control system –but other modules, such as job management, event logging or object information will additionally support daily tasks of employees. With this function it would be impossible to forget some work orders. Events which have occurred, will be directly collected via the smartphone and transmitted to the customer.
“With COREDINATE, we have solved a lot of challenges at our own security firm”, said Sebastian Kulig, who manages the business with his brother Michael and has more than 25 years of experience in the field of security with the company Kulig Security GmbH & Co. KG . “We rapidly understood that the whole industry might benefit from this solution”. In August 2014, the spin-off of the COREDINATE GmbH was completed. Since then, numerous customers were acquired throughout Germany as well as in Austria and in Switzerland.
With the capital from this financing round we will improve the quality of the software and increase sales in the domestic and international market. We plan to further expand the solution to related industries, such as cleaning and maintenance.
“The team is entrepreneurial and experienced in this particular industry. Hence they were able to develop a solution that fulfils the customers’ need. Coredinate successfully replaces obsolete systems by a user-friendly and feature-rich application, which considerably improves the control functions and administration”, comments Chiara Sommer, Investment Manager at the High-Tech Gründerfonds, the investment.
About COREDINATE GmbH
Coredinate is a Software-as-a-Service application, that enables service companies such as security, maintenance and cleaning services to do their work more efficiently and safer.
The company has its headquarters in the Middle Franconian Uffenheim, between Würzburg and Nuremberg. The managers Michael and Sebastian Kulig share the Finance and Sales Department and the technical unit is managed by the CTO Konstantin Krassmann. In total, the team consists of seven employees. BayernKapital as well as the High-Tech-Gründerfonds rank among the investors. www.coredinate.de
COREDINATE GmbH, Michael Kulig
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 ten investment funds with a total volume of around €340m. So far, it has invested almost €200m in 230 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, almost 5000 long-term jobs in sustainable companies have been creat.
About the High-Tech Gründerfonds
The High-Tech Gründerfonds is investing venue capital in young, promising technology companies which implement promising research results in an enterpreneurial manner. With the help of the seed financing the start-Upcompanies should manage the R&D project until making available a prototype or a “Proof of Concept” or until the market launch. The fonds initially contributed with 500,000 Euros; in total up to two million Euros are available for each company. Investors of the public-private-partnership are the Federal Ministry for Economic Affairs and Energy, the KfW bank group as well as the 18 commercial enterprises 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. In total, the High-Tech Gründerfonds disposes of a fonds volume of about 576 million EUR (272 m. EUR fonds I and 304 m. EUR fonds II).