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T-Venture returns to Netbiscuits in $27m financing round

17 Oct 2012

Global corporate venture investor T-Venture has re-upped its commitment to German cloud software company Netbiscuits by joining a $27m financing round.

Growth investor Stripes Group led the round, which Netbiscuits said would be used to extend sales and marketing in the US and Europe as well as focusing on R&D.

German and Swiss-based venture capital firm Creathor Venture also took part in the financing.

Stripes Group managing partner Dan Marriott said, “Mobile is seeing tremendous growth and the Netbiscuits team and platform is leading the industry in providing innovative, flexible and cost effective solutions to a wide variety of blue chip customers across numerous industry sectors.

“The timing of our investment is ideal and provides Netbiscuits with the resources to extend its leadership position in enterprise mobile web development during this period of rapid market adoption.

“The Netbiscuits team has done an exceptional job over the past 12 years building and evolving their platform and market position – and we couldn’t be more excited than to have the opportunity to partner with them on their road ahead.”

Netbiscuits CEO Michael Niedhofer said the industry was currently at a tipping point following several years of explosive growth.

He said, “A highly developed mobile web presence is no longer a nice-to-have for enterprises.

“It is now a requirement for any company that wishes to remain competitive.

“As a result, we’re seeing huge demand from across the world, particularly in the US, which is at the cutting edge of the current mobile trends.”

T-Venture was founded as the corporate venture arm of Deutsche Telekom in 1997.

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