Yttrium invests in In Mind Cloud
In Mind Cloud Raises EUR 16 Million in Series B Funding led by Digital+ Partners to Fuel Continued Growth and Geographic Expansion
Munich, Singapore, Shenzhen, 24/09/2019 – In Mind Cloud, provider of a leading, cloud-based manufacturing sales platform, today announced the completion of a EUR 16 million Series B financing round, led by Digital+ Partners. Existing investors also contributed to the round.
In Mind Cloud was founded in 2012 to help make sales more successful and profitable for manufacturing companies. From the very beginning, the company’s multinational team of software enthusiasts and industry experts has been driving innovation for manufacturing clients around the globe.
In 2018 In Mind Cloud launched its next-generation ‘Manufacturing X’ sales platform. This unique offering combines the power of CRM and CPQ (Configure, Price, Quote) with real-time manufacturing data, workflows and business intelligence. In Mind Cloud’s customers have been able to use the ‘Manufacturing X’ platform to rethink their business models, achieving a step-change in top-line growth whilst also reducing production error rates and processing times by a factor of 3.
Today In Mind Cloud is serving a global blue-chip customer base across multiple manufacturing verticals, including Benteler in Germany, Mindray Medical in China and Netafim in Israel.
The total transaction volume on the ‘Manufacturing X’ platform has already exceeded USD 100 million per week, highlighting how In Mind Cloud’s platform is emerging as the industry standard backbone for manufacturing CRM. To support this ambitious objective, In Mind Cloud recently appointed Karan Sood, a seasoned software industry veteran and CRM thought leader, as Chief Technology Officer (CTO) to lead the next phase of expanding In Mind Cloud’s CRM strategy for manufacturing industries.
With the Series B funding, In Mind Cloud is now looking to capitalize on its strong growth momentum and build up its sales & marketing organization across China, Germany and the US, whilst also continuing to make significant investments in global customer support and accelerating the company’s ambitious technology roadmap.
Dr. Christian Cuske, CEO of In Mind Cloud, states: “There is a pressing need to have future ready CRM platforms that match manufacturing vertical needs. ‘Manufacturing X’ is designed to address the very core manufacturing challenges around time to market, customer experience with lot sizes of one, and building new, digital business models. I am excited that with our investors we have found trusted partners who support our company’s goal and share our view on the product’s global market potential.”
“We have been impressed by In Mind Cloud’s accomplishments to date and strong traction with blue chip customers globally,” said Dirk Schmücking, Managing Director and Founding Partner at Digital+ Partners. “We are pleased to be investing in technology that enables digital transformation strategies in the context of Industry 4.0 and look forward to supporting In Mind Cloud’s management team towards building a global market leader for advanced manufacturing sales CRM/CPQ solutions.”
About In Mind Cloud:
In Mind Cloud (www.inmindcloud.com) is a leading provider of an innovative manufacturing sales platform. In Mind Cloud’s solution “Manufacturing X” combines CRM and CPQ with production expertise and intelligent insights to transform the profitability of manufacturing and engineering businesses. Based on the SAP Cloud Platform In Mind Cloud’s solution is deeply integrated into manufacturing processes and front-end sales operations. In Mind Cloud is operating globally through its offices in Germany, Singapore, China and a high-value partner network.