Conntac, provider of self-service solutions for technical customer support, raises a seven-figure investment sum in its second round of financing. The investors include Basinghall, Bayern Kapital, H&S Investment and a business angel who was already an investor in the first investment round. The investment round was accompanied by BayStartUP and Digitales Zentrum Schwaben (DZ.S). Conntac offers self-service solutions for telecommunication providers that enable end-users to solve the set-up and disconnection of the internet connection on their own. With the new capital, Conntac will continue to grow towards market leadership in the DACH region, expand into other European countries and extend the self-service solution to other industries.
Conntac GmbH was founded in 2017 by Dr Michael Faath, Benjamin Wöhrl, Christoph Keller and Prof. Dr Rolf Winter and quickly established itself on the telecommunications market in Germany, Austria and Switzerland with its positioning as THE self-service company.
“Our vision is for all people to master complex processes themselves with our help,” says Managing Director Dr. Michael Faath. “Through our solution, every person in every situation receives the optimal guidance for the task at hand – automated, interactive, intuitive and individual.”
High-profile customers use Conntac’s self-service solution
With Conntac’s white label solution, which helps customers to solve their technical problems related to Internet access independently, the founders have already been able to win high-profile customers. Conntac now helps thousands of people every day, including customers of Telefónica Germany, Vodafone and M-net.
Conntac’s customers rely on the combination of intelligent network measurements with understandable queries, with which the app identifies the underlying connection problem. Through user-friendly and individual instructions, users are guided step-by-step through the problem-solving process and thus enabled to eliminate numerous connection problems themselves. In this way, the service hotline is relieved by up to 25% and the processing of service requests is accelerated by up to 70%.
Conntac on course for expansion and growth
In addition to a stand-alone solution for industry giants and medium-sized telecommunications providers, Conntac will also offer a scalable solution for smaller ISPs and municipal utilities with fewer than 25,000 end customers from the autumn. By using Conntac’s solution as a complementary customer service measure, small-medium providers are able to focus on challenges such as expanding their offering (e.g. fibre) and their growth without neglecting their strong focus on customer satisfaction.
The new funding amount will enable Conntac to achieve goals such as this and others, including market leadership in the DACH region, expansion into the UK and Scandinavia, and extending the solution to other industries.
After the Conntac team has already doubled in size in each of the last two years, a further growth step is now planned. “In the coming months, we will continue to expand our team. The high demand for well thought-out and high-quality self-service solutions, not only in the area of Internet providers, shows us that we have hit the nerve of the time,” says Managing Director Benjamin Wöhrl.
“We see great potential in Conntac’s solution and were convinced by the founders’ vision from the very first moment. The customer-centric approach is unique in the market and the strong growth in recent years has shown us that there is a great need for self-service solutions. Now we need to place the solution in other industries and countries as well. We want to support Conntac’s growth strategy with our international network,” says Yannick Wilden, Partner Basinghall Partners (UK).
“Conntac has grown strongly since our first investment. The economic successes to date are impressive, and the technological possibilities of the solutions continue to be promising – even beyond Germany’s borders. The company is a Bavarian high-tech success story with still great growth potential. That is why we are happy to continue supporting Conntac,” says Bayern-Kapital Managing Director Dr. Georg Ried.
Image material
- Team photo Conntac GmbH (Image rights Conntac GmbH)
- Conntac GmbH founding team – (from left to right: Prof. Dr. Rolf Winter, Christoph Keller, Dr. Michael Faath, Benjamin Wöhrl) (Image copyright Conntac GmbH)
- Conntac Self-Service Solution (Image rights Conntac GmbH)
- Portrait Dr. Michael Faath, Managing Director Conntac GmbH (Image copyright Conntac GmbH)
- Portrait Benjamin Wöhrl, Managing Director Conntac GmbH (Image rights Conntac GmbH)
- Portrait Yannick Wilden, Partner Basinghall Partners (UK) (Image copyright Basinghall)
- Portrait Dr. Georg Ried, Managing Director Bayern Kapital (copyright Bayern Kapital)
- Conntac Logo PNG
- Conntac Logo SVG
Basinghall Partners Limited
Basinghall Partners is a European venture capital fund that invests in young high-tech companies with outstanding teams and breakthrough technologies. Basinghall Partners is particularly focused on European technology companies with strong B2B applications that align with the trends and needs of traditional industries. To this end, the Basinghall Innovation Circle, a platform for industry partners, was developed.
For more information, please visit: https://www.basinghallpartners.com/
H&S Investment
Angel investor in the high-tech sector, supporting enthusiastic, innovative entrepreneurs at a very early stage to realize their dream of establishing a successful company.
For more information, please visit: https://hs-investment.eu/
Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was founded in 1995 as a wholly owned subsidiary of LfA Förderbank Bayern on the initiative of the Bavarian state government. As the venture/growth capital company of the Free State of Bavaria, Bayern Kapital provides equity capital to the founders of innovative high-tech companies and innovative technology companies in Bavaria. Bayern Kapital manages specialized investment funds with an investment volume of around 700 million euros. To date, Bayern Kapital has invested over 350 million euros of venture capital in around 300 innovative, technology-oriented companies from a wide range of sectors, including life sciences, software & IT, materials & new materials, nanotechnology and environmental technology. Bayern Kapital has supported the companies EOS Electro Optical Systems, congatec, MorphoSys, voxeljet, parcelLab, SimScale and many others, some of which are listed on the stock exchange and are now market leaders in their sectors, from an early stage in the realization of their projects and also in large-volume financing rounds. As a result, more than 8,000 jobs have been permanently created in Bavaria in sustainable companies.
For more information, please visit: www.bayernkapital.de
