DLA Piper advises Cloudflight on TeamEcho financing round

Linz (ÖS) — DLA Piper has advi­sed Cloudf­light as an exis­ting inves­tor in a finan­cing round tota­ling €1.3 million for Linz-based HR tech startup Team­Echo. In addi­tion to the exis­ting inves­tors, Team­Echo was able to secure the parti­ci­pa­tion of well-known inves­tors in the German-spea­king region with seed + speed Ventures, Cars­ten Maschmeyer’s VC fund, the invest­ment vehicle 8eyes around Runta­stic foun­der Florian Gschwandt­ner and the OÖ HightechFonds.

Renow­ned soft­ware deve­lo­per and AI solu­tion provi­der Cloudf­light helps compa­nies drive their digi­tal trans­for­ma­tion, deli­ve­ring scalable, flexi­ble custom soft­ware that can be imple­men­ted quickly and seam­lessly across the enterprise.

TeamEcho’s anony­mous employee feed­back tool helps custo­mers create a work envi­ron­ment where ever­yone can reach their full poten­tial. As a conti­nuous mood baro­me­ter, the tool provi­des an up-to-date view of the working atmo­sphere at any time and allows emer­ging problems to be iden­ti­fied as they arise and solu­ti­ons to be found. Since the foun­da­tion of Team­Echo, Cloudf­light has supported the foun­ding team in the deve­lo­p­ment of the soft­ware product and the successful estab­lish­ment of the company.

Advi­sor Cloudf­light: DLA Piper
With a team led by part­ner Simon Vogel (Corporate/Private Equity, Munich)

About DLA Piper

DLA Piper is one of the world’s leading commer­cial law firms, with offices in more than 40 count­ries in Africa, Asia, Austra­lia, Europe, the Middle East, and North and South America. In Germany, DLA Piper is repre­sen­ted by more than 250 lawy­ers at its offices in Frank­furt, Hamburg, Colo­gne and Munich. In certain juris­dic­tions, this infor­ma­tion may be conside­red attor­ney adver­ti­sing. www.dlapiper.com