Vorwerk Ventures, the corporate venturing arm of direct selling company Vorwerk, has co-led a €5m ($5.8m) round for Germany-based marketing technology developer CrossEngage with venture capital firm Earlybird Venture Capital.
Existing investors Project A, IBB Beteiligungsgesellschaft, Cavalry Ventures, 42 Capital, Ventech, TA Ventures and Capnamic Ventures also participated in the round.
CrossEngage has developed a cloud-based software platform that helps businesses to reach their target audiences through targeted messages and the automated selection and combination of marketing channels.
CrossEngage previously raised an undisclosed seven-figure euro amount in seed funding in January 2016 from Capnamic Ventures, Project A Ventures, IBB Beteiligungsgesellschaft and others. The new funding will fund global growth and the continual development of its technology.
Norbert Muschong, general manager at Vorwerk Ventures, said: “We see strong growth potential in CrossEngage and are convinced by its technological know-how.
“We believe that the startup’s technology can also compete internationally and we are therefore very optimistic that the company will continue to establish itself strongly in the coming year.”