Berlin - 07.11.2011
PressMatrix obtains further investment
High-Tech Gründerfonds and IBB’s “ProFIT” boost the growing company’s capital
Tablets, Smartphones, eReaders – the publishing industry can no longer avoid mobile devices if it plans to reach the widest audience possible with its content. Knowing this, Berlin’s PressMatrix has developed a platform that enables publishers to make their content directly available for readers via iPad, Android tablet and smartphone complete with enhanced interactive elements like video, slideshows and e-shopping. It’s a business model that has convinced the Investment Bank Berlin (IBB) along with business angel Henri Kühnert and the High-Tech Gründerfonds to invest a seven-digit sum into the growing company.
“PressMatrix’s solution helps publishers to enter new digital markets in a mobile environment,” says Andreas Quauke, Senior Investment Manager with High-Tech Gründerfonds. “We believe that the strong and increasing demand for their product can be covered internationally through PressMatrix’s talented management team, and we look forward to helping the company build upon this outstanding foundation,” Quauke added.
PressMatrix will receive further financial support through the Investitionsbank Berlin’s (IBB) “ProFIT” program, which finances innovative Berlin-based companies.
“This investment allows us to further develop our technology and increase our market presence. We will also hire more staff, since our service will be utilised by more and more publishers,” said Daniel Höpfner, Founder and Managing Director of PressMatrix. “With the help of our investors and Business Angels, along with the additional financial resources, we can offer PressMatrix customers innovative extras and additional services such as the monetarisation of their content.”
PressMatrix is also being assisted by Henri Kühnert – early phase Business Angel and CEO of SinnerSchrader Mobile. He is set to work closely with PressMatrix, and brings knowledge in the areas of mobile business and the publishing industry.
The technology of PressMatrix allows small and large publishers to market a wide variety of publications on iPads and other tablets within a few days. This way, publishers can reach additional potential customers without incurring upfront project or integration costs.
PressMatrix is a technical service provider that allows publishers and companies to distribute magazines and newspapers as applications for tablets and mobile devices. The company has developed a simple and automated solution that makes print publications available for mobile devices running on iOS and Android operating systems. PressMatrix draws on a hybrid technology approach in that it provides the usual reading experience of printed magazines while utilising the manifold possibilities inherent to the mobile medium. PressMatrix was initially founded as “BBLabs” in 2009 by Daniel Höpfner, Jens Gützkow und Christian Marsch and renamed at the beginning of 2011 as PressMatrix. Currently, 15 employees in Berlin, Hamburg and Dubai are in the growing company’s employment.
About High-Tech Gruenderfonds
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2m per Portfolio Company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as twelve industrial groups of ALTANA, BASF, B.Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Qiagen, RWE Innogy, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 560.5 under management in two funds (EUR 272 m EUR HTGF I, EUR 288,5 million HTGF II).
The Investitionsbank Berlin (IBB) is the subsidy bank of the Federal Land of Berlin. With its newly orientated economic support and subsidy policy, it actively contributes towards developing Berlin as a business and industry location. For example, with ProFIT – Berlin’s central innovation support program co-financed by ERDF – it is in a position to fund technology-oriented projects in all innovation phases from the research period right through to market entry.
About Henri Kühnert
Henri Kühnert ranks among the most active figures in the mobile business. In 2006 he founded TIC-mobile – a technology service provider for the implementation of mobile applications on multiple mobile devices. In May 2011, TIC-mobile was acquired by one of the largest digital agencies – the SinnerSchrader AG – and has since been trading under SinnerSchrader Mobile GmbH.