The digital enterprise collects nearly nine million euros from investors. The head office is now moving to the main market and the product development remains in Cologne.
The travel fund is lavishly filled
With a recently completed financing round, the Cologne based software startup ArangoDB wants to venture a larger step into the USA. The company, founded in 2014, received venture capital of just under nine million euros. New to this is the US tech investor Bow Capital. Target Partners once again invests in ArangoDB. And the company joined the software specialists in 2017.
The startup sells database software designed to make it easier for software developers to work. With more and more companies turning more and more to digital services or apps. Their IT departments are increasingly looking for help in the development process. ArangoDB names corporations such as Airbus, Thomson Reuters and Barclays as reference customers. German startups like Instana from Solingen are also benefiting from similar developments.
According to the company, ArangoDB already makes more than 50 percent of its sales in the USA. The business is also growing fastest there, according to a press release. The official headquarters is therefore relocated to San Francisco. On the west coast larger teams in the areas of marketing, customer service and personnel are to be set up.
Networks form in Silicon Valley
The startup hopes to gain several advantages from the increased presence in Silicon Valley. The existing customers, including numerous large US companies today it should feel better looked after. In addition, it is easier to get to tech savvy employees. In addition, one hopes for a network effect as part of the Silicon Valley ecosystem.
The team of six employees in the US is expected to double by the end of the year. They are also being strengthened by the relocation of German startup staff in order to build expertise in new teams and to facilitate the transfer of the corporate culture.
Nevertheless, the old hometown of Cologne continues to play a major role. With more than 40 employees, the central product and software development should take place from here. A similar step was taken some time ago by drone defense startup Dedrone. Its headquarters have also been relocated to the USA, the engineers work from the old location Kassel.
Also published on Medium.