HERO Software, a Hannover, Germany-based SaaS platform for tradesmen and SMEs in the DACH region, has closed a €40 million Series B financing round.
Investors
The round was led by Eight Roads Ventures, with existing investor Cusp Capital participating again, and Federated Hermes also joining in.
Eight Roads Ventures is a global venture capital firm backed by Fidelity that supports entrepreneurs in scaling game-changing technology and healthcare companies. With a presence in China, Europe, India, and Japan, the firm brings over 50 years of venture investing experience, manages $11 billion in assets under management (AUM), has invested in over 300 portfolio companies, and has seen over 60 IPOs.
HERO Software Use of Funds
The company plans to utilize the funding to invest in its team, recruit new talent, expand into new markets, and further develop its SaaS offering.
About HERO Software
Founded in Hanover in 2020 by Dr. Michael Kessler and Philipp Lyding, HERO Software provides cloud-based Software-as-a-Service solutions (SaaS) tailored for tradesmen and SMEs. Its platform serves as an operating system for businesses across various trades, including plumbing, carpentry, photovoltaic installation, and electrical services. The platform integrates all core workflows, enabling seamless management and accessibility of information for both owners and field workers on-site.
Funding Details
Company: HERO Software GmbH
Raised: €40.0M
Round: Series C
Funding Month: July 2024
Lead Investors: Eight Roads Ventures
Additional Investors: Cusp Capital, Federated Hermes
Company Website: https://hero-software.de/
Software Category: Craftsman Software
Source: https://www.eu-startups.com/2024/07/hanover-based-hero-nabs-e40-million-series-b-to-become-the-operating-system-of-tradesmen-smes-across-europe/