CrossEngage announces €6.5m growth capital round

Project A Ventures, Vorwerk Ventures, IBB Ventures and Target Partners also backed the €6.5m round. Proceeds are intended to support the merger of the two businesses, providing capital resources for their market expansion.

The two merging companies' existing shareholders and VC backers have bought into the new structure and neither group has sold its shares in the businesses.

The companies will continue to operate separately, but under the umbrella brand of CrossEngage. The merger aims to build on both companies' complementary software offerngs.

Previous funding
GPredictive raised a seed round of €130,000 in May 2012, followed by another €130,000 round in February 2015. In January 2015, Target Partners backed a €4.5m round for the company.

In January 2016, CrossEngage raised a seed round backed by Ventech, IBB Ventures, TA Ventures, Project A and Saarbruecker 21. In November 2016, the same investors backed a second seed round, joined by new investor Capnamic.

In November 2017, Earlybird and Vorwerk led a €5m round for the business, joined by Project A, Capnamic, Vorwerk and Cavalry Ventures. Earlybird invested via its Digital West Fund, also known as Earlybird VI.

CrossEngage announced its series-A round in January 2019, in which it raised €1m from Earlybird, Project A, Vorwerk, Cavalry Ventures and 42Cap.

Company
GPredictive and CrossEngage are AI-backed software platforms for marketing and customer data engagement, allowing companies to make budget and sales forecasts, as well as planning customer acquisitions. Founded in 2015, CrossEngage is based in Berlin and employs 50 staff, while GPreditictive was founded in 2009, is headquartered in Hamburg and has 22 employees.

People
CrossEngage – Manuel Hinz (CEO).
GPredictive – Björn Goerke (CEO).
Project A – Florian Heinemann (general partner).
Target Partners – Waldemar Jantz (partner).
Earlybird Ventures – Julius Rüßmann (partner).

Advisers
Company – BMH Bräutigam, Bastian Reinschmidt, Raoul Moritz Nissen, Katharina Erbe, Niclas Minderjahn, Sebastian Krieg (legal).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Germany
• Earlybird
• Target Partners
• Project A Ventures