Berlin-based smartphone-as-a-service supplier, Everphone, has topped up with $65 million in a Series C equity elevate in addition to taking $135M in debt financing — for a complete elevate of $200M.
The newest tranche of funding is led by German non-public equity investor, Cadence Growth Capital (CGC), which is now Everphone’s largest shareholder.
Deutsche Telekom, AlleyCorp and indicators Venture Capital additionally participated as returning buyers.
The new financing follows Everphone’s $40M Series B, closed in summer time 2020, because the 2016-founded startup reported an uplift in curiosity pushed by the COVID-19-triggered distant working increase.
Everphone’s enterprise takes care of the provision, help, restore/alternative and recycling of cellular gadgets (smartphones and tablets) for enterprises prospects — billed beneath a per-user month-to-month subscription.
It’s a tool rental mannequin the startup touts as being extra sustainable than different routes for provisioning cellular gadgets (akin to shopping for gadgets outright) — arguing it saves environmental useful resource by baking in circularity from the beginning.
As properly as caring for its prospects’ {hardware} procurement wants — and the refurbishment/recycling/reuse of used cellular gadgets — Everphone bakes in MDM (cellular system administration), touting diminished IT help prices as one other perk of paying it to take the system pressure.
Over the previous 12 months it’s been increasing internationally — and says the brand new capital will go towards additional internationalization in Europe and the US because it vies as much as win extra prospects.
Series C funds may even go on growing its headcount, spending on product improvement, and rising its energetic system fleet — which it says now numbers over 100,000 gadgets.
Commenting in a press release, Leonard Clemens, co-founder and managing companion at CGC, added: “We have been accompanying Everphone for years and see great potential for a successful positioning as a partner for customers from the enterprise and SME sectors in Germany, Europe, and the USA. Everphone‘s one-stop solution fits perfectly into our time of change enabling flexible working hours and, lately, hybrid location models. This makes Everphone an enabler of New Work and, at the same time, implements sustainability with a significant contribution to the Circular Economy.”
