GED invests in SimpleCloud via Conexo Ventures

The GP backed the company via its venture capital fund Conexo Ventures I. This is the fourth transaction made by the vehicle, following its investments in Buguroo, Kushki and BNext.

The fund was launched in October 2019 with a target of €40m and a hard-cap of €50m, and has raised €35m so far. It plans to make 20 investments of around €2m, of which approximately 50% will be follow-up transactions.

The vehicle targets series-A rounds in Iberian startups that develop disruptive software – preferably using AI – with scalable business models, operating in the cybersecurity, payments, marketplaces, finance, insurance, legal, administration, travel and accommodation sectors.

SimpleCloud intends to use the fresh financing to accelerate its growth and international expansion, primarily in the US.

Previous funding
Inveready, Caixa Capital Risc and state-backed Center for Industrial Technological Development (CDTI) invested in SimpleCloud in 2009.

Company
Established in 2008 and based in Madrid, SimpleCloud is a cloud-based platform for the creation, development and management of digital content for the animation, video game, advertising and visual effects industries.

The platform works through the infrastructure provided by the IBM Cloud, with a global network of more than 60 cloud data centres across 19 countries.

People
Conexo Ventures – Isaac de la Peña (partner).

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• Topics
• Expansion
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• GED Capital
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