Meister locks in $52m

Meister, a European provider of cloud-based workplace collaboration tools, has raised $52 million in funding.

Meister, a European provider of cloud-based workplace collaboration tools, has raised $52 million in funding. Verdane led the round.

PRESS RELEASE

Seattle, Wa. and Vienna, Austria, July 14, 2021 – Meister, a European challenger in the cloud-based workplace collaboration tool market, has raised growth financing as part of a $52 million USD transaction. The investment marks the company’s first funding round after an initial seed round in 2009. The financing round is led by Northern European private equity firm Verdane, which specializes in growth capital for digital consumer, software and sustainable society businesses, including past investments in well-known German companies including momox, Hornetsecurity and smava.

As one of Europe’s first and largest disruptors in collaboration tools, Meister’s SaaS model offers a modern alternative to U.S. providers with an intuitive all-in-one productivity and collaboration solution for teams of all sizes. Since Meister’s founding in 2006, the platform has gained more than 25 million users with its web- and cloud-based software solutions. Meister’s customers include international chocolate manufacturer Ritter Sport, SAP, Dropbox, Deloitte, and teams large and small from numerous other global household brands names across industries.

With the funds, Meister will expand its product suite, currently featuring the leading online mind mapping solution MindMeister, the task management tool MeisterTask, and the recently launched note-taking and documentation software MeisterNote. Meister will also expand into additional markets in Europe and the U.S. with plans to grow to over 500 employees as a global leader in the field of European providers for productivity software with a focus on data security, privacy protection, and DSGVO, a German privacy regulation also known as GDPR compliance.

“We’re the first collaboration tool to put data privacy at the forefront of productivity and collaboration software, thus we’ve become a relevant player on a global scale in a very short time,” says Till Vollmer, co-founder of Meister. “As a European company, we see data protection as a clear competitive advantage. In 2020 alone, we gained 8 million new users from around the world.”

“We believe there is a strong demand for workplace collaboration tools, which will be accelerated in the future by structural growth trends such as digitalization or remote working. It is impressive to see how the founders have organically built a global SaaS company with customers in over 150 countries without major financing. We are proud that they have chosen Verdane as their preferred partner for future growth,” said Nils Vold, Partner at Verdane.

“The Meister team has consistently impressed us with the outstanding software solutions they have built. With its strong organic and product-driven growth, coupled with high user satisfaction and cost-efficient acquisition model, we believe Meister offers a highly attractive collaboration tool for fast-growing businesses looking to effectively scale their operations while maintaining workforce efficiency,” said Maroje Guertl, Principal at Verdane.
i5invest, an international tech M&A advisor, investor and business accelerator with offices in the Silicon Valley (San Francisco and Palo Alto), Germany (Berlin), Austria, Spain and Bulgaria, supported Meister with the growth equity funding round. As part of a long-term strategic partnership predating the round, i5invest has supported Meister in scaling and internationalising its operations.

“Meister’s focus on security and data privacy in collaborative work makes it one of the most impressive SaaS growth companies in the productivity segment. We are proud to have deployed our specialist knowledge in cross-border tech transactions to support Meister’s global roll-out and M&A initiatives,” said Patrick Prokesch, Senior Director at i5invest.

For more information or to sign up with Meister’s suite of tools, please visit www.meisterlabs.com.

About Meister and the Meister Suite
Meister was founded in 2006 by Michael Hollauf and Till Vollmer. Today, the team consists of more than 100 enthusiastic people working in offices in Vienna, Munich and Seattle. Together, they develop smart, intuitive web apps that help teams – no matter what size or industry – turn ideas into reality.
Meister Suite is where the work is done. Comprised of MindMeister, MeisterTask, and MeisterNote, the suite gives user:s all the tools they need to create an efficient and creative workflow from ideation to implementation. From collaborative brainstorming to agile task management and easy project documentation, the individual tools in Meister Suite complement each other perfectly and are integrated to take collaborative work to a whole new level. Learn more at www.meisterlabs.com

About Verdane
Verdane is a specialist growth equity investment firm that partners with sustainable, tech-enabled Northern European businesses to help them reach the next stage of international growth. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy behind three core themes; the Digital Consumer, Software Everywhere, and Sustainable Society. Verdane funds hold more than €3bn in total commitments and have made over 120 investments in fast-growing businesses since 2003. Verdane’s team of over 70 investment professionals and operating experts, based out of Berlin, Copenhagen, Helsinki, London, Oslo, and Stockholm, is dedicated to being the preferred growth partner to tech-enabled businesses in Northern Europe.