Berlin, May 4th 2017. Berlin-based early-stage investor Project A today announced the successful acquisition of portfolio company MiNODES by Telefónica NEXT. In the course of this transaction, MiNODES is to become a full subsidiary of Telefónica Germany NEXT GmbH, which acquired the MarTech startup for a low eight-figure euro amount.
By acquiring the Berlin-based startup, Telefónica NEXT, a subsidiary of Germany’s largest mobile service provider, expands its own competencies with an intelligent data tracking and analysis solution for offline retailers.
For lead investor Project A, the acquisition of MiNODES is the fifth exit within their first fund, which was raised in 2012. Besides providing financing, Project A was deeply involved in MiNODES on an operational level from the very beginning — especially in the areas of product, IT and marketing.
“The exit shows that MiNODES’ approach to link on and offline retailing is becoming increasingly relevant and rewarding,” says Thies Sander, partner at Project A. “We consider Telefónica NEXT the ideal partner for MiNODES. They have profound competencies beneficial for the product’s further development and provide access to relevant potential customers.”
MiNODES is a Berlin-based software-as-a-service company which offers an innovative solution for tracking customer behaviour and analysing corresponding data in offline retailing. Making customer behaviour transparent in the offline world, MiNODES is able to provide recommendations to improve efficiency in sales areas and thereby simultaneously improve the customer’s shopping experience. In addition, MiNODES offers omni-channel retargeting based on their in-store tracking solution. This means offline retailers can retarget offline shoppers via various digital advertising channels.
“Backed by our former investors, we have been able to prove that our business model is scalable and can be rolled out internationally”, says Alexander Köth, founder and managing director of MiNODES. “In no small part due to Project A’s and Berlin Technologie Holding’s support we were able to build a sound foundation and we are looking forward to generating further growth together with Telefónica NEXT.”
“By acquiring MiNODES, we can extend and improve our service portfolio for offline retailers significantly,” says Jens Lappoehn, managing director of Telefónica NEXT focusing on retail solutions. “Together with MiNODES we will enable offline retailers to better understand customer behaviour based on data. Every retailer will be able to adapt their offline stores to account for their customers’ needs while simultaneously achieving a seamless customer experience over all channels.”
Minodes was founded in 2013 and currently employs over 40 people. After the successful takeover, co-founder Alexander Köth and the employees will remain at Minodes GmbH. The other co-founder Tim Wegner has recently left the company to focus on new start-up projects, but will remain committed to the company as an advisor.
MiNODES is an innovative SaaS solution for retail stores to increase sales performance and sustainably improve customer's shopping experience. Retailers may use the platform in various ways, for example to measure and optimize marketing campaigns and shop window designs, or develop targeted, location-based marketing activities. The MiNODES campaign tool allows retailers to act directly upon the generated insights. The Berlin-based MiNODES GmbH was founded in 2013, by the Managing Director Alexander Köth.
About Project A
Project A is an operational VC that provides its ventures with capital, an extensive network and exclusive access to a wide range of operational expertise. The Berlin-based investor makes use of the €260m in assets under its management to back early-stage companies in the digital technology space. With its unique organizational structure featuring 100 operational experts, Project A offers its portfolio companies hands-on support in the areas of IT, Marketing & Brand Building, Business Intelligence, Sales and Recruiting. The portfolio includes companies such as Catawiki, WorldRemit, Tictail, Contorion, nu3, Lostmy.name and ZenMate. More about Project A on www.project-a.com and on our blog http://insights.project-a.com.
Press Contact Project A
Phone: +49 30 340 606 321
About Telefónica NEXT
Within Telefónica Germany NEXT GmbH based in Berlin, Telefónica Deutschland has bundled its digital growth areas “Advanced Data Analytics” and “Internet of Things”. The company acts as an independent entrepreneur on the market and develops digital products and services under CEO Nicolaus Gollwitzer. As a partner to other industries, Telefónica NEXT enables companies to make better use of the growth opportunities provided by digitalisation. With “Advanced Data Analytics”, Telefónica NEXT focuses on the social and economic advantage that can be obtained from analysing large volumes of data. In addition, Telefónica NEXT is working on solutions for the Internet of Things for end customers with its software platform geeny.io. Telefónica NEXT combines its various data-based solutions and supports retailers to better understand the needs of its customers throughout the customer journey.
Press Contact Telefónica Deutschland
Phone: +49 176 23 91 64 42