After having raised $200 million in Series C funding round in December last year, Berlin-headquartered phone-as-a-service provider everphone has raised €32 million as an extension of its Series C funding to expand into new markets. The round was led by Cadence Growth Capital (CGC) and backed by existing investors such as Deutsche Telekom, signals Venture Capital and Dr. Henrich Blase.
The startup will use the new capital to speed up product development and the growth of its device fleet. The company had earlier raised €34 million in funding in 2020.
Founded in 2016 by former CHECK24 managing board member Jan Dzulko, everphone offers companies flexibility, reliability, and an easier way to manage smartphones, tablets, and laptops. The platform not only removes the hassle from internal IT departments but also reduces CO2 emissions and waste, creating a more sustainable way of using devices. This in turn helps extend the lifecycle of mobile devices and encourages a circular approach to electronics.
Jan Dzulko, CEO and founder of everphone said: “Our mission is to enable companies to improve their daily operations and to act more environmentally friendly as part of the circular economy. The extended funding round supports us to advance this mission further.”
In 2020 alone, worldwide, some 226 million smartphones were given a second life, thus saving over 13 million tonnes of CO2 from being introduced into the atmosphere, a number equivalent to the emissions of around 8.7 million combustion-based cars.
Leonard Clemens, co-founder and managing partner of Cadence Growth Capital added: “We are very satisfied as big enterprise customers such as Henkel have entered into long-term contracts with everphone.”