Tengelmann and IBB back 42reports

42reports has completed its test phase and is now rolling out its systems. The fresh funding will be used for growth of the sales and marketing department and the development of the company's next generation of products.

42reports had already received backing from seed investment firms Waterkant Invest and e42, both of which previously invested in start-ups 6Wunderkinder and kaufDA.

IBB invested via its €52m VC Fonds Technologie Berlin, which is backed by Investitionsbank Berlin and European Fund for Regional Development. The firm invests up to €1.5m in first-round financing, while follow-on rounds result in a maximum commitment of €3m.

Tengelmann focuses on the consumer internet and technology sectors and currently backs 35 companies.

Company
Founded in 2013 by Christian Wallin, 42reports provides a central platform for e-commerce stores to analyse their performance and improve their online marketing through the use of existing and new retail technologies, such as wifi tracking, cameras and iBeacon.

A team of 13 developers, mathematicians, data analysts and sales professionals work in the firm's Berlin headquarters.

People
Christian Winter is managing director of Tengelmann. Clemens Kabel represented IBB. Christian Wallin is a founder of 42reports.

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