Spryker completes financing round with eight-figure valuation

Berlin/Hamburg June 8, 2015. Spryker Systems GmbH – which offers a software system for the highly productive and customized expansion of business models in e-commerce – has successfully completed its series-A financing with venture capital. Besides the early-stage investor and company builder Project A Ventures, the investors’ line-up also includes Cherry Ventures. This is the fund of the former Zalando managers and co-founders of Groupon as well as Quandoo (which include Christian Meermann and Daniel P. Glasner). In addition, several private investors have acquired shares in the company, which was founded in November 2014.

The series A financing of the 20-person company was completed with a medium-range seven-figure euro amount and an eight-figure valuation. The driving force behind Spryker Systems are the founders and managers, serial entrepreneurs Alexander Graf and Nils Seebach. Together with Project A Ventures, they have adapted the innovative high-performance engine to be found in numerous ventures of the Berlin company builder for use in external companies. The result is an extremely rapid and easy-to-adapt commerce framework for online shops and their business models as well as data-driven marketing. The aim is to free entrepreneurial decisions from the restraints of standard IT.

Thies Sander, co-founder and manager of Project A Ventures, says about the investment: “A high degree of customization at a simultaneously high level of execution has become the standard due to the leading players in e-commerce. With our investment in Spryker, we are backing a technology that is applied precisely here and has already proven successful in numerous projects and companies. Moreover, we are convinced that the founders will introduce their operational and strategic know-how into their customers’ companies in a very valuable way, thus laying the foundation for the successful development of Spryker.”

The Spryker founders Alexander Graf and Nils Seebach

Christian Meermann, Managing Partner of Cherry Ventures backs the commitment: “Due to our operational background as entrepreneurs (Zalando, Quandoo, Groupon) at Cherry Ventures we know how crucial a fit IT infrastructure is for the success of a business model. We therefore believe that Spryker will succeed remarkably in the market, especially as the technological approach goes back to precisely this operational, entrepreneurial background."

Spryker development and team expansion

Customers of Spryker have access to a product that has passed extensive testing by experts: The framework’s predecessor has been implemented in numerous e-commerce projects at Project A

since 2012. CTO Fabian Wesner incorporated his thorough experience with fast-growing projects at Rocket Internet, for example dafiti.com.br, Brazil’s leading online-fashion store. As of now, Fabian Wesner, one of the two technology heads at Project A and co-founder of Spryker, will be fully dedicating his work to Spryker. Also on board of the team is solution architect Gregor Müller, whose background includes almost seven years of work as a business development manager for SAP Germany.

The agency partners who trusted in the software product right from the start and are part of the Spryker network include the agency VOTUM from Berlin, CommercePlus from Hamburg and the CGI subsidiary Symmetrics from Hannover.

First customers and expansion of business

Backed by this funding, the Spryker team is now starting its business expansion and customer projects from its offices in Berlin and Hamburg. The first companies to back Spryker include the kartenmacherei, which is already the market leader in the DACH region and France with with its platform for personalized greetings cards. As Steffen Behn, CTO of kartenmacherei GmbH emphasizes: “We want to be able to execute new product ideas, as developed by our teams more rapidly, respond more easily to altered customer needs and increase our flexibility in international markets.“

About Spryker Systems

The technology company Spryker Systems was founded in November 2014 by the serial entrepreneurs Alexander Graf und Nils Seebach (e.g. eTribes) in cooperation with the Berlin based early-stage investor and company builder Project A Ventures. The core of the company is the commerce framework Spryker. The software system was developed to put maximum productivity at the reach of companies and enable them to adapt, scale and innovate their digital business rapidly, whatever the individual requirements might be. The modular approach was developed by CTO Fabian Wesner for the ventures of Project A and refined for expanding and innovating business models at high-pressure. Spryker provides companies with the critical room for development in e-commerce, enabling data-driven decision-making process across teams and a new perspective on online marketing. The team of Spryker Systems includes 20 employees as well as offices in Berlin and Hamburg. More details are available under www.spryker.com and on Twitter: @sprysys.

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Spryker Systems GmbH
Melanie Schehl
Phone: +49 170 32 55 828