Gimv et al. invest €2m in CoScale

The deal saw Gimv and Qbic, an inter-university venture fund, contribute €750,000, while incubator Sofi provided €500,000.

Gimv invested via Gimv Arkiv Fund II, a €100m fund established in June 2010. It follows on from Gimv's first Arkimedes fund, which was set up in 2005 following the Arkimides regulation, whereby the Flemish government set up an investment programme to support venture capital investing through partnerships with recognised venture capital investors.

Qbic invested through its Qbic Arkiv Fund, which held a first close on €30m in May 2012. The vehicle focuses on supporting spin-offs from the Ghent, Brussels and Antwerp university associations.

The fresh capital will be used to further develop CoScale's presence in domestic and overseas markets, as well as to continue developing the product.

The deal marks the second investment by Gimv and Qbic in CoScale, after the duo first injected €1.5m into the company in March 2014.

Company
Ghent-based CoScale is a software business that focuses on speeding up websites. As slow pages cause visitors to leave websites, this can lead to revenue loss for e-commerce sites and damage to the company's brand.

CoScale addresses slow pages by monitoring and analysing them, to highlight the impact of turnover. The software then uses advanced analytics to provide insights into the cause of the problem, be it related to applications, networks or infrastructure.

People
Hans Witdouck is CEO of CoScale.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Benelux
• Early-stage
• Technology
• Gimv
• Belgium