VCs exit Inventorum to Shore

Munich-based Shore wholly acquired the business and will incorporate Inventorum into its business to expand its software offering. The combined group will have 88 employees.

In July 2015, Paua Ventures and Senovo backed a series-A round for Shore. The same investors backed a series-B round for Shore in October 2014, along with Otto Capital.

Shore has also secured financing from internal sponsors during the course of the takeover, the company said in a statement.

Shore was founded in 2012 and its software-as-a-service platform is used by clients in 68 countries.

Previous funding
In 2013, Inventorum raised a €4m seed round backed by High-Tech Gründerfonds (HTGF), Klingel New Media, Vogel Ventures and MCB Salt. HTGF, Vogel and business angel Max Iann backed a €4m round for the company the following year.

Company
Founded in 2013 and based in Berlin, Inventorum is a cash management software platform that provides small businesses with a means to oversee inventories, customer support and other e-commerce functions. Its user base includes hairdressers, physiotherapists and retailers. The company employs 18 staff.

People
Shore – Nikbin Rohany
Inventorum – Christoph Brem (founder, managing director).

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