LBBW Venture Capital, the corporate venturing unit of Germany-based financial conglomerate Landesbank Baden-Württemberg, and other venture backers have invested an undisclosed amount in Germany-based search engine marketing company Crealytics.
LBBW was joined by the Switzerland-listed investment group Mountain Super Angel and existing investor, the Germany based venture capital (VC) firm Bayern Kapital.
Bayern Kapital had previously participated in Crealytics’ January 2010 round of funding led by German state and corporate-backed seed investor High-Tech Gründerfonds, but featuring Chancenkapital Biberach, the corporate venturing division of Germany-based bank Kreissparkasse Biberach. Crealytics claims to be the first search engine marketing company to measure its performance using a profit-driven model.
The equity will be invested in enhancing its pay-per-click software, enabling the service to be scalable.
Mattias Götz, senior investment manager at LBBW, said: "In addition to the management team, we were impressed particularly by the uniqueness of the software in conjunction with the performance-based business model. We are certain that the new capital will enable crealytics to continue the pace of its current success."