Munich – Stuttgart-based start-up Flip has raised around EUR 3.6 million for its employee app in a seed round of financing. Established in 2018, the start-up has developed an app that provides companies with a platform for legally compliant employee communication across all levels. In addition to lead investor LEA Partners, other lenders include Cavalry Ventures, Plug & Play and business angels such as the supervisory board chairman of BASF AG, Jürgen Hambrecht. Flip plans to use the funding to expand its headcount and invest in developing new markets.
A CMS team headed by lead partner Stefan-Ulrich Müller advised LEA Partners on all legal aspects of the financing. LEA Partners is a longstanding client and regularly relies on the expertise of the Munich-based CMS team in venture capital transactions and exits. Recent examples include the investments in Smart Steel Technologies and Intranav.
Employee app Flip enables information to be shared and distributed to all employees throughout the company, from office workers to production staff, warehouse teams, field staff and those in part-time roles. The application is based on a GDPR-compliant approach to data and employee protection. This compliance has been verified in conjunction with experts and the works councils of several DAX companies. The developer describes it as an app that supports existing and future digitisation projects within companies.
As an entrepreneurial equity partner, LEA Partners supports company founders and management teams in various development phases as they seek to achieve growth and market leadership. Based in Karlsruhe, home to one of the largest technology clusters in Europe, LEA Partners has been involved in investment in many technology companies since 2002.
CMS Germany
Stefan-Ulrich Müller, Lead Partner
Felix Schmitt, Associate, both Corporate/Venture Capital
Dr Markus Kaulartz, Counsel
Dr Michael Biendl, Senior Associate, both TMC
Stefan Lüft, Partner
Annika Lindemann, Associate, both Intellectual Property
Dr Christoph Ceelen, Senior Associate, Labor, Employment & Pensions
Press Contact
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