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Small and medium-sized businesses – the ones digitalization forgot
In Europe alone there are more than 23 million small and medium-sized enterprises (SMEs). These businesses are the backbone of the European economy, yet they are often overlooked by technological developments. Although they make a substantial contribution to employment, many SMEs lack the resources needed to integrate digital solutions into their business processes. This applies above all to businesses in traditional sectors such as the skilled trades, service providers, hospitality, facility management and medical practices, where digitalization is often perceived as a challenge.
This is exactly where clockin comes in, offering an easy-to-use app for recording working hours, for documentation and for managing tasks. With the new funding, the company plans to develop its platform further and respond even more precisely to the needs of smaller businesses. The aim is to make day-to-day work easier for businesses and employees alike, while strengthening the competitiveness of SMEs in the digital age.
Worldwide, 80% of employees are deskless
Around 80% of employees worldwide work outside an office and are therefore part of the so-called “deskless workforce”. These employees often have no fixed workstation and no access to the digital tools available to office staff. This frequently leads to inefficient workflows and makes communication harder.
clockin has developed an award-winning solution aimed specifically at people who are not tech-savvy, equipping SMEs with cloud technology and practical AI features.
In doing so, clockin closes an important gap and ensures that an entirely new sector of the economy gains practical access to digitalization.
More than 3,700 customers already successfully digitalized
The company already has more than 3,500 enthusiastic businesses as customers in the German-speaking region and is using the funding round to reach its growth targets faster, to develop its product portfolio further around its customers and to expand into further European markets.
“We are delighted to be able to drive digitalization in Europe forward even faster together with our new partners. Most businesses lack a clear idea of what digitalization makes possible and, above all, of how they can involve their deskless workforce in it. We want to be the simplest tool with which they can finally get the paperwork chaos out of their day-to-day work, push the automation of processes forward and give people who are not tech-savvy practical access to the benefits of artificial intelligence,” says clockin co-founder and CEO Frederik Neuhaus.
Opening up fragmented markets efficiently
“When it comes to adopting cloud services, German and European SMEs are far behind their potential. That is partly down to how hard the highly fragmented mid-market is to reach. clockin proves that this vacuum can be filled by focusing entirely on what customers need: straightforward sales and onboarding processes, digitalization of processes that adds value, and intuitive usability,” adds Johann Rottmann, Investment Manager at SCALEHOUSE Capital.
D11Z. Ventures supports the European expansion
With the support of D11Z Ventures, clockin aims to push its expansion across Europe further. “Europe offers a large untapped market for the digitalization of the deskless workforce, and clockin has the potential to close this market gap and take a leading role in this segment,” emphasises Sebastian Pyzalski, Investment Manager at D11Z Ventures. The backing from D11Z Ventures reinforces clockin’s ambition to lead small and medium-sized businesses into the digital future while strengthening their competitiveness.
About clockin
clockin was founded in 2018 and has since grown into a leading platform for digitalizing HR and workforce processes for small businesses. The company offers an easy-to-use app for time tracking, documentation and the organisation of work processes, tailored specifically to the needs of small and medium-sized businesses.
clockin has set itself the goal of not leaving cutting-edge technology to large corporations alone, and of giving small businesses access to digitalization and AI. With the current funding round, clockin intends to extend its leading position in the market and drive its vision of a digitally connected working world forward.
Recently, clockin made it into 10th place among the 100 most popular tools in the DACH region – an award presented annually by the leading software comparison portal OMR Reviews. In addition, clockin was admitted to the renowned Scale-Up NRW programme run by the state of North Rhine-Westphalia at the beginning of the year.
About D11Z. Ventures
D11Z. Ventures is a dynamic early-stage investor specialising in digital and AI start-ups in Germany and Europe. As a single-family-office VC, D11Z Ventures pursues the vision of shaping the digital future as a leading European investor in the fields of AI, IoT and SaaS. With experience, expertise and agility, D11Z. Ventures promotes digital transformation and has valuable connections to technology SMEs and global market leaders. Its focus is on finding founders with visionary ideas in order to shape the digital future for the long term. True to its motto "Shaping Tomorrow, Today", D11Z. Ventures turns visionary ideas into reality today.
About SCALEHOUSE Capital
SCALEHOUSE Capital is a venture capital investor operating throughout Germany with a focus on efficient B2B software companies. Through its fund it brings together owners and founders of successful mid-sized companies and hidden champions. With this distinctive access to industry, it supports the next generation of start-ups leading their category.
About capacura
capacura is a leading early-stage investor specialising in particularly sustainable German start-ups. The company invests its own capital in future technologies in the fields of education, health and the environment. Through a unique platform, private investors can also share in the commercial success of the portfolio companies.
For further information, please contact:
Jonas Tünte
info@clockin.de
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