Berlin - Schnittker Möllmann Partners (SMP) advised on the investor-side in the latest financing of Berlin-based startup Scoutbee. The Series B round amounts to 60 million USD and is led by Atomico with Lakestar and Next47 as well as existing investors HV Holtzbrinck Ventures, 42CAP and Toba Capital also participating in the equity financing.
"We are pleased to once again have advised on a large financing round under participation of top-tier investors. Moreover, the round is highly beneficial for the ecosystem as it shows the continued attractiveness of Berlin-based companies, especially B2B solutions using artificial intelligence," comments SMP Partner Benjamin Ullrich, who led the SMP team advising on the financing round.
Scoutbee aims to drive digital transformation of global procurement. With the help of AI and big data, the Scoutbee platform enables the right purchasers and the right suppliers to connect anywhere in the world. Headquartered in Berlin and Washington DC, the startup already serves major multinationals including Audi, Airbus, Caterpillar and Bosch, plus over 75 other companies worldwide. The startup will focus on its R&D, accelerate customer growth, and explore strategic acquisitions. Scoutbee's team will grow from 120 to around 220 across Berlin, Wurzburg and Washington DC. by the end of 2020, with new roles in engineering, machine learning, product development, sales and marketing.