Iris, eCapital invest €21m in Open-Xchange

The fresh capital will be used to expand the company's staff of 250, which currently is 70% developers, engineers and technical support.

The company will target growth in the areas of domain name systems and secure email, and expand geographically into the North America, Latin America and Asia Pacific regions.

Previous funding
In 2006, Baytech Venture Capital invested in an $8.8m series-A funding round for Open-Xchange.

In April 2008, eCapital led a $9m series-B alongside Baytech and BayBG. The VC firm later led a $20m series-C in July 2013 and a $5.2m extension of the round in December 2016.

Company
Open-Xchange was founded in 2005 and is headquartered in Nuremberg. It provides email, productivity and security software to its clients, which include telecommunications companies such as 1&1 Internet, GoDaddy and Italiaonline. The company reports revenue growth of 45% for the past decade and has sold 200 million commercial licences to its suite. It employs 250 people.

People
Iris Capital – Curt Gunsenheimer (senior partner).
eCapital – Paul-Josef Patt (CEO).
Open-Xchange – Rafael Laguna (CEO).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• Iris Capital
• Venture