- Next Matter has raised $16 million in a Series A funding round led by OMERS Ventures.
- Founder Jan Hugenroth believes the health of operations at a company can “make or break a business.”
- Check out the 18-slide pitch deck Next Matter used to raise the fresh funds below.
A startup that aims to cover all business operations including task management, corporate wikis, and workflow charts, has raised $16 million in a round led by the venture capital arm of Canadian pension fund OMERS.
Berlin-based Next Matter, which was founded in 2018, has developed an all-in-one platform for businesses that will also manage individual and team wide inboxes while also removing the need for low code app builders. The company counts German trading startups Moonfare and Trade Republic among its users.
Next Matter was created by Jan Hugenroth, who found during his time at McKinsey that many of the companies he advised were using a patchwork of tools such as spreadsheets and emails to drive critical operations.
His days as a consultant showed him how the health of operations at a company can “make or break a business,” with many using systems that were not too generalized to be effective in driving operations.
Operational inefficiency is a serious problem for businesses, with research from the Harvard Business Review estimating that the cost of “excess bureaucracy” in the US is in the region of $3 trillion.
“There has been a sustained lack of innovation taking place in the operations space, with companies forced to put together patchwork solutions that leave much to be desired,” he said.
Next Matter, which also works with the likes of insurtech firm Wefox, aims to change this with its automated system that integrates with existing tools such as
or Zapier, and helps join up the work done across different departments in a more seamless way.
The Series A round, led by OMERS Ventures, also included investment from existing backers including BlueYard Capital and Crane Venture Partners, as well as founders of startups such as Raisin, a fintech business, and online recruitment firm HeyJobs.
The startup will use the fresh funds to boost its fully remote team from 15 people to 75, as it looks to grow its presence in the US, where the company said a third of its customers are now based.
Check out the 18-slide pitch deck below: