Germany-based software navigation developer Userlane today raised €10m ($11.4m) in series B funding from Main Incubator, an early-stage vehicle for financial services firm Commerzbank.
Five Elms Capital led the round, which featured Capnamic Ventures and High-Tech Gründerfonds (HTGF).
Founded in 2015, Userlane has developed an IT tool that helps users to learn an unfamiliar app. The interactive technology allows new employees to operate in a software system when joining an organisation.
Userlane will use the series B money to further develop its products and increase its market share in Europe and the US, according to CEO Hartmut Hahn, who said: “With this new investment, we are able to expand our presence globally and accelerate our product roadmap, all while providing our customers with optimal support across different markets and time zones.”
Capnamic Ventures, HTGF and Main Incubator had all backed Userlane’s $4.9m series A round in early 2018, investing with FTR Ventures. HTGF and Main Incubator also provided seed funding of undisclosed sum along with an angel investor, Robert Kabs, two years before.
