German SaaS company Filestage has closed a €2.8 million Series A round led by Newion, together with current investor HTGF and seed + speed Ventures. The Stuttgart-based startup has built a software for creative teams to quickly share, review and approve various kinds of content, from PDFs to video and audio files. The process is called “online proofing”, and these creative teams reside in all sectors, from healthcare to retail to mobility. For example, Braun Medical Devices says they reduced their review turnaround time by 75 percent. Other customers include Sharp, Sixt, dm, GroupM, Lufthansa, Rabobank and Cambridge University Press. Carsten Maschmeyer, founder of seed+speed (and one of the judges on Germany’s Shark Tank), commented: “95 percent of companies still use email and legacy commenting tools like Adobe Acrobat, MS Office and Dropbox to share and discuss content but I am convinced that successful companies will invest in online proofing software more and more, to avoid email chaos and be effective.” Filestage will use the fresh funding to develop the product, particularly investing in the AI and analytics capabilities of the platform.
Photo: Filestage founders Maël Frize, Simon Kontschak and Niklas Dorn
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