Vienna/Munich-based workplace collaboration tool platform Meister (a.k.a. MeisterLabs) has raised $52 million in a growth financing round. This is the first and only funding the company has taken on since a €600,000 angel round in 2008. Co-founder Michael Hollauf told me, "We were profitable the year after and every year since then but just decided that we wanted to grow even faster now, given the huge opportunity in the market for our product suite."
Starting off life as MindMeister, a collaborative mind mapping tool, Meister now encompasses a suite of productivity and collaboration tools including task management tool MeisterTask and note-taking and documentation solution MeisterNote.
Meister founders Michael Hollauf and Till Vollmer point to their European-built solution as an attractive alternative to US-based competitors due to the company’s focus on data security, privacy protection, and lest we forget, 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,” commented Vollmer. “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.”
Since the company’s founding in 2006, Meister has attracted over 25 million users from around the globe and counts Ritter Sport, SAP, Dropbox, and Deloitte amongst its client base. With offices in Vienna, Munich, and Seattle, Meister is planning an aggressive growth strategy via a recruiting spree.
"We're looking for great talent in Vienna, the US, and elsewhere in Europe. Engineering, commercial, and lots of exciting positions in a real people company," said Hollauf.
Meister’s funding round was led by private equity firm Verdane.