In an oversubscribed financing round, Qumram secured an investment of CHF 2.4 million from highly experienced and relevant business angels, including Ariel Lüdi (former CEO of hybris software, sold to SAP), Peter Stalder (former CTO of finnova AG), and Zirkonia, an Investment Group created by Ronald Hafner (former CEO of Lodestone Management Consultants) and his co-founders Peter Ödman, Jürgen Bauer and Michael Stein.
A group of investors from investiere.ch also participated in this financing round contributing a total of CHF 660,000. “We were impressed with the considerable sum investiere was able to raise for us in such a short time, and also with the quality of the investors they helped us to reach,” states Patrick Barnert. “These included successful entrepreneurs as well as high-level executives of mid-sized as well as large corporations.”
According to Peter Stalder, the decision to invest in Qumram was driven by three key factors: “First, Qumram is a powerful product with growing demand, especially suited, but not limited to financial services. Increasingly, online service providers are requiring reliable and compliant content archive, session recording and analysis instruments for recorded data, and every one of them should be interested in Qumram. Second, Qumram has an outstanding reputation in the market. Finally, the firm has a highly experienced, innovative and driven management team that is committed to executing an ambitious global growth plan.”
“We are very happy to have gained reputable investors; they will bring us to the next level and we will benefit greatly from their experience” says Patrick Barnert, CEO of Qumram.
Qumram is one of only two Swiss start-ups to be included in the FINTECH 100 list of leading global Fintech innovators, published by H2 Ventures and KPMG, and in February 2016 they granted Qumram the “Top 10 Global Emerging Star” award. In addition, Qumram has made the final top 3 for Accenture’s Swiss FinTech Award 2016.
Today, banks need to interact with customers across a variety of digital channels. This requires robust and secure online offerings and has a huge impact on regulatory compliance – a major concern for financial institutions. Qumram is one of three leading companies worldwide that provides a solution to record, archive, replay and analyze web and mobile customer interactions. This helps clients to ensure compliance, detect online fraud and improve the customer experience.
Qumram has been acclaimed by two leading research analysts, Gartner and 451 Research. However, it is not only the analyst community that has recognized the quality and value of Qumram’s services. More than 30 clients from heavily regulated industries such as banking, insurance, healthcare and government already use Qumram solutions, including UBS, CSS, Zürcher Kantonalbank, Luzerner Kantonalbank, SUVA and the Swiss Parliament. Qumram has already generated revenues of over CHF 1 million in two consecutive years, an impressive feat for a company that was only founded in 2011.
The funds raised in this financing round will be used to specifically target North America and the UK.