Ventech leads InSided's €6m series-A

José Rojo
24 February 2016

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Ventech has led a €6m series-A for Dutch corporate social media developer InSided alongside fellow VC henQ and corporate venture house Fortino Capital.

Ventech has yet to disclose its contribution during the round but the VC, which targets software assets both in Europe and China, typically deploys €2-5m when initially backing a startup; during successive rounds, that figure can go up to €5-10m.

Dutch VC henQ and corporate venture scheme Fortino also backed the series-A; speaking to unquote", a source familiar with the situation confirmed that both firms contributed equally.

Since its foundation in 2010, InSided claims to have doubled in size every year as it expanded from its Netherlands base to France, Germany, Ireland, Finland and Spain. The plan is to continue growing abroad and, to that end, the business will add 50-100 staff to its existing 60-strong workforce in the coming year.

The €6m series-A is the latest deal to be announced by Ventech in a busy start to 2016. The VC's forays have so far taken place in France, where it backed Botify's €6.6m series-A alongside Idinvest and led a $4.7m round for artificial intelligence specialist TellMePlus.

According to the unquote" source, the InSided round is the 18th to be financed via Ventech's fourth fund. The vehicle closed on €110m in November 2014, as Ventech set up shop in Germany with a Munich office; following the InSided deal, it has deployed more than half of its capital.

Company
Founded in 2010, InSided creates social media platforms for corporates. Via the platform, clients including T-Mobile, Proximus, ABN Amro and Rabobank engage directly with their customer base, which in turn can review products, ask questions and interact with one another. Headquartered in Amsterdam, the developer employs more than 60 staff in the Netherlands, France, Germany, Ireland, Finland and Spain.

People
Ventech – Audrey Soussan (principal).
henQ – Coen van Duiven (partner).
Fortino Capital – Duco Sickinghe (partner).
InSided – Robin van Lieshout (CEO).