Hamburg – Germany-based startup Familo has successfully concluded a series A funding round securing a low seven-digit Euro investment to further develop its smartphone app for family communications and security. HR Ventures, Venista Ventures and WestTech Ventures, all investors from the seed round, continued their support of Familo. New among the investors are the media companies Badisches Pressehaus, Haas New Media and Verlagsgruppe Rhein Main. Also among the investors is Innovationsstarter Hamburg. The business angels Dr. Michael Goldapp and Dominik Gyllensvärd complete the field of backers.
Familo plans to use the funds invested to strengthen its market-leading role in existing markets, drive expansion into new markets and increase the number of active users markedly by intensifying its marketing. “This financing round is a milestone that helps us pursue our strategic goals”, says Hauke Windmüller, who co-founded the startup together with David Nellessen and Michael Asshauer. Familo has the market lead in Germany, Austria and Switzerland.
Its current user base has been built primarily through organic growth. The new capital, in part, is to be allocated to marketing activities. This is also relevant when it comes to expanding Familo’s presence in emerging countries such as Brazil and Turkey.
Familo keeps focusing on its own technologies, among them the hallmark location algorithm that lies at the heart of the young company. Thanks to a high level of user feedback and live testing Familo makes sure its solution ranges best among all competing solutions for family localization.
Familo offers app-based secure and convenient location-based communication for the everyday life of the world’s strongest social network – families. Familo features check-ins, messaging, photo exchang