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December 13, 2006
Hasso Plattner Ventures and Strascheg's Extorel Invest €2M In Datango
Hasso Plattner Ventures and Extorel have invested €2M in German online help and navigation tool developer, Datango, to finance its expansion into the US. Early investor, Atlas Venture, also participated.
We interviewed Datango's Berlin-based CEO, Jochen Wiechen, earlier this month when we heard he had closed the financing round. The pedigree of its new investors and the fact that Datango is a bubble survivor make it worth looking at more closely.
Founded and funded in 1999, Datango is on track for €5M in sales this year as its target market recovers and starts to spend again. Datango employs 40 today and has been mainly active in Germany selling into multi-national organizations. It raised the new capital to expand into the US market more aggressively in 2007.
Its software is used to develop training and online support applications, mainly for SAP users, but also Peoplesoft, Oracle and the like. It has features that automate a lot of the tasks for documenting multi-lingual enteprise applications.
How does Datango compare to other online documentation tools? "Datango is the Daimler. The others are Trabants," quipped Wiechen, backing that claim up with customer names like eBay International, MAN Group, Schering, Deutsche Telekom's T-Com and Novartis Vaccines use Datango's software.
Given its new investors' connections and the firm's reference list of existing customers, it looks like Datango has a good basis for a growth story.
Posted on December 13, 2006 09:59 AM | Posted to News And Updates | Permalink
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