Augsburg, 26. July 2018. During its first investment round (series A), the Augsburg-based IT and telecommunications startup Conntac GmbH has received a large six-digit investment. Conntac’s investors are Startkapital-Fonds Augsburg, Bayern Kapital, Wayra Deutschland and a business angel. The investment round was prepared by the investor network BayStartUP. Conntac offers self-service solutions for internet service providers, to troubleshoot their customers’ internet connections. With the fresh investment, Conntac will continue its growth and further its product development for the mobile communications market.
Conntac started 2017 as a spin-off of a research group of the University of Applied Sciences Augsburg and achieved its breakthrough as a provider of self-service solutions. Even before that, the team of founders already worked as service provider for software, app and web development. “We are developing solutions that enable customers to solve technical problems with their internet connection on their own.”, says Dr. Michael Faath, one of the two CEOs of Conntac. In order to achieve this, intelligent network measurements are combined with easily understandable questions posed to the user and intuitive instructions. This enables users to solve complex technical problems themselves without having to call a service hotline, which lowers the call volume at service centers. With the o2 DSL Help app, there is a Conntac-developed self-servicer solution already in the market since the beginning of 2018. Within a few weeks, the app was already downloaded more than 20000 times.
“We are observing the success story of the Augsburg-based startup Conntac already for some time. After winning a few innovation prices and the already quite advanced product development, we expressed our interest in investing in Conntac early on. The general idea of a self-explaining diagnostics software has, from our point of view, a large growth potential even beyond the telecommunications market. We are happy to become a part of this success story, in particular, since this is a company from Augsburg.”, Marcus Wagner from Startkapital-Fonds Augsburg GmbH explains the decision for their investment.
“Conntac is a good example of the successful development of a promising, technology-oriented startup in Bavaria. A team of university graduates develops an innovative product, after that, investment and coaching through the EXIST program happens, followed by a successful acceleration program. We have invested, because product development and the first successful commercial success has convinced us.“, Dr. Georg Ried explains, CEO of Bayern Kapital.
Wayra, the startup accelerator of Telefónica, is already involved with Conntac since mid last year and is also part of this investment round. Christian Lindener, CEO of Wayra Deutschland, says: „Conntac and its o2 DSL Help app are a great example of our new strategy to integrate new technologies: startups receive access to our corporation and can optimize their product in a real world environment. At the same time, this provides Telefónica access to new and innovative technology. Both sides profit this way.”
„The solution offered by Conntac perfectly complements our digital service offerings. In most cases, a call to the customer service ist not necessary any more. This saves time and increases customer satisfaction.”, says Christian Schmidtchen, Head of Digital Assistance & Innovation at Telefónica Deutschland.
Conntac is already evaluating the next possible steps: „Our mission is to support people to master complex task themselves. We will work on self-service solutions for other industries and use cases in the future.”, says Conntac CEO Benjamin Wöhrl.
About Startkapital-Fonds Augsburg GmbH
Already in 1997, the companies in the Augsburg-Munich area and the IHK Schwaben realized the importance of technology-oriented, fast-growing and young companies and spin-offs. SKA Technology Venture Partners (SKA TVP) was the regional answer to the question of how to finance these companies. All-in-all, twelve companies with more than 350 employees have since been financed by the SKA and operate in various sectors such as 3D print, medical technology, plant construction, IT and environmental technology. SKA TVP, co-investor, funding agencies and banks invested in recent years more than 50 million € in newly founded companies. A success model with strong, regional impact. SKA today is managed by Marcus Wagner.
About Bayern Kapital
Bayern Kapital GmbH, headquartered in Landshut, was founded on the initiative of the Bavarian State Chancellery in 1995 as a wholly-owned subsidiary of the LfA Förderbank Bayern. Bayern Kapital, as a venture capital association of the Free State of Bavaria, provides investment capital to innovative high-tech companies and young, innovative technology enterprises in Bavaria. Bayern Kapital is currently part of eleven investments with a total volume of about 325 million Euros. Up to now, Bayern Kapital has invested about 273 million Euros in about 260 innovative technology-oriented companies in different sectors, including life science, software & IT, materials, nano technology and environmental technology. These investments have helped to create over 5000 sustainable jobs in those Bavarian companies.
About Wayra Deutschland Wayra, Telefónica’s startup-track, identifies and fosters innovative founder teams as well as young, growing technology companies. Wayra supports startups through a so-called venture-client-model. Startups have the opportunity to make one of the world’s largest technology company their customer, to implement a paid technology project, to gain access to a customer base of 47 people, to develop operational excellence by working closely with business units and to profit from a global mentor and technology network. In addition, Wayra’s support includes financing and coachings as well as office space and it organizes networking events. Wayra offers all this to young, growing technology companies working in the areas of the Internet of Things (IoT), data analytics, cyber security and artificial intelligence (AI). Wayra Deutschland was founded in 2012 and has an impressive track record regarding their 40 supported startups up-to-date. Most recently, the car component supplier Continental has taken over the Wayra-Startup Parkpocket, that offers a data-based service for off-street-parking. Wayra is a global initiative with locations in ten countries – in Spain, Great Britain and Germany in Europe as well as Chile, Brasil and five other Latin American countries.
Website of the O2 DSL Help App
Conntac team photo (all rights reserved Conntac GmbH, left to right: Dr. Michael Faath, Prof. Dr. Rolf Winter, Christoph Keller, Benjamin Wöhrl)
Portrait Dr. Michael Faath, CEO (all rights reserved: Conntac GmbH)
Portrait Benjamin Wöhrl, CEO (all rights reserved: Conntac GmbH)