VCs invest $12m in Scoutbee

HV is currently investing from its Holtzbrinck Ventures Fund VII, which closed on €306m in January 2018. The fund offers first-round investments between €500,000-5m, with up to €40m available in follow-on financing.

The capital will be used to expand in the US and Europe, and drive demand for its product. The company opened its first office in the US in January 2019.

Previous funding
HV and 42Cap led a $4m funding round for the company with participation from Toba in 2018.

Company
Founded in 2015 and based in Würzburg, Scoutbee is a procurement platform. The company employs approximately 80 people. The company's US headquarters are in Arlington Virginia.

People
Toba Capital – Wilder Ramsey (partner).
HV Holtzbrinck Ventures – Jan Miczaika (partner).
Scoutbee – Gregor Stühler, Lee Galbraith, Christian Heinrich, Fabian Heinrich (co-founders).

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• Topics
• Expansion
• DACH
• Technology
• Holtzbrinck Ventures
• Germany
• Venture