Target Partners backs So1 in series-A round

The Munich-based venture capital firm invested an undisclosed seven-figure amount in the software start-up. The capital will be used to improve So1's product and launch it in the German consumer goods industry.

Target Partners's latest transaction was a €6m co-investment in Falcon Social, a Danish developer of social media management software, earlier in August.

In the firm's first investment this year, Target Partners invested €2m in online financial services start-up Finanzchef24 in January.

Target Partners is a venture capital firm that typically invests in start-ups and young companies. The firm focuses on seed and early-stage investments, mainly providing growth and expansion capital.

Target Partners usually invests between €2-3m and up to €5-10m in co-investments. Its prime focus is on the technology sector.

Company
So1 was founded in 2012 in Berlin, aiming to help clients reach consumers with individually-priced promotions.

The company developed the So1 engine, which uses proprietary algorithms to calculate the optimal price reduction for individual customers. It then allows firms to target customers in an individual way rather than in bulk. This is designed to make companies' advertisements more attractive to the individual, allowing customers to switch to specific brands or businesses.

The firm currently employs eight staff, which include former managers from the consumer goods industry, econometricians and computer scientists.

People
Raimund Bau and Sebastian Gabel are So1's co-founders. Berthold von Freyberg is a partner at Target Partners. Heinz Müller was appointed to So1's advisory board. He previously was managing director for sales at Henkel. Joachim Schoss was also appointed to the firm's advisory board. He is the founder of Scout24 Group.

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