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Graz video call startup eyeson receives 3 mio EUR investment

Tuesday, December 04, 2018

To support the further scaling of their group video call solution, the Graz-based startup eyeson added an additional three million EUR in capital. The new CFO will be MySugr Finance Director, Bernd Guttmann. This year the Graz startup eyeson has achieved the jump from zero to one millions app downloads and 1,5 million users. “These numbers have forced us to add more capital,” says eQventure founder Herbert Gartner in an interview with the brutkasten. The Graz "Investors Club" took over the lead in the three-million-euro round for eyeson. Participating in the investment are Hermann Hauser, tecnet equity, aws Gründerfonds Venture fund and Michael Altrichter. For the Austrian startup news portal derBrutkasten.at Altrichter said: “eyeson has a unique technical solution and an extremely strong team. I see great international potential.”


Scaling with B2C2B approach

It was only this year that they began selling a B2C product, and as Gartner assures; “it is the most stable mobile streaming solution.” Up until that point they worked mainly in the B2B sector and according to the Co-Founder and CEO Andreas Kröpfl it was “two years ago that we decided that we wanted to sell our own product.” They are not leaving the B2B business, but rather upgrading it. As explained by the CEO, “we are following a B2C2B approach. We filter the companies out of our B2C customers and upgrade them,” explains the CEO. “If the B2C model scales, we will not need a lot of direct B2B sales,” says Kröpfl. The process is mostly automated. About 1,6 percent of the customers are companies. “It does not sound like much, but if one considers the incomparably higher sales with large corporate customers, that is a neat result”. The premium model of app and web interface for B2C and B2B users have the same range of functions.


New CFO

The raised capital is intended to flow through various channels mainly into user acquisition. Next year, the team wants to expand the user base by six million, so the investment will go into marketing automation, sales automation and growth hacking, which also mean an expansion in the team. Along with the investment they also announced that the mySugr CFO Bernd Guttmann joined their team. At present, he is still working for both companies and will join the team exclusively in the first quarter of 2019. One of the areas of his responsibility will be the next financing round. “More than 20 international VCs have already expressed interest in us, so we have some leverage. Up till now we have a CEO and a CTO who have jointly taken over the CFO duties. With Bernd Guttmann, who has the corresponding experience, we want to further professionalise ourselves in this area,” explains Andreas Kröpfl.


Read the full article on derBrutkasten.com (in German).

Photo: The eyeson team with CEO Andreas Kröpfl, CTO Michael Wolfgang and the new CFO Bernd Guttmann (© rawpix.at)