Hamburg-based Awork start-up raises EUR 5 million
The Hamburg-based Awork start-up has secured EUR 5 million in capital from Hi Inov-Dentressangle and Swiss Post Ventures in a Series A funding round, a press release said Wednesday (January 18, 2023). The founders Tobias Hagenau, Lucas Bauche and Nils Czernig have developed a work management tool that make digital teamwork more productive.
Funding at right time
"The capital has come at a key moment in our development at Awork and in that of the working world. The New Work revolution is everywhere, and teams want to collaborate digitally," said Hagenau, CEO of Awork. The start-up is now on a great course and has good prospects. "Awork has developed an intelligent tool that contributes significantly to solving fundamental problems in digital collaboration," said Wolfgang Krause, partner at B2B fund Hi Inov-Dentressangle.
"Huge growth is expected for work management tools market in the next few years," Krause said. Awork emerged from the software start-up HQLabs and now plans to put the capital towards hiring more staff and to double the number of users. More than 17,000 people in 2,200 companies would use the work management tool. Awork's corporate customers include Thjnk, Fischer Appelt, Ströer and EnBW.