Global tech provider SMARTASSISTANT secures €5m funding from Beringea

SMARTASSISTANT, a global technology provider, has secured €5m (around £4m) Series A funding which has been led by growth capital investor, Beringea.

The fund allows SMARTASSISTANT’s mission to help its consumers make better decisions and offers businesses technology with a user-friendly interface. This will allow them to create digital advisors that guide a customer’s decision-making process online.

Whether the customer is buying a mobile data plan or even a laptop, SMARTASSISTANT’s digital advisors allow users to engage in a personalised dialogue and recommend products, services and content based on their needs.

The company’s co-founder and CEO, Markus Linder, said: “As consumers and buyers, we appreciate the accessibility of information that digitisation has provided. But it has also brought with it an overwhelming amount of choice, which is already transforming how people make decisions.

“Our technology simplifies decision-making and makes sure consumers and buyers get the best product or solution according to their specific needs.”

The Software as a Service (SaaS) solution operates in most languages and has proven successful with retailers, brands and service providers from the likes of Microsoft, Canon and T-Mobile onboard.

Early backing for the company was received from a group of angel investors including Ariel Luedi - who is now chairman of the company - and the former CEO of Hybris, an e-commerce software technology company acquired by SAP in 2013.

This latest round brings SMARTASSISTANT’s funding total to €7.25m, with the money helping the company’s plans to continue its expansion into US-based sales in New York City.

Eyal Malinger, investment director at Beringea, commented: “SMARTASSISTANT’s universal appeal to companies across a broad set of industries, its proven track record in expanding internationally, and its already impressive client portfolio, are all clear indicators that C-suites are recognising the strong need to be more than mere providers in competitive markets.

“Becoming a customer’s trusted advisor is one of the few remaining key areas to compete and differentiate as total digitisation is only a matter of time.”