To further promote sustainable device usage among business customers, Everphone, a leading Device-as-a-Service platform for corporate smartphones and tablets, has raised €270 million in a Series D financing round led by Citigroup, Phoenix Insurance, and KfW. Also participated Capnor and their partner Calista, as well as from existing investors including Cadence Growth Capital and founder Jan Dzulko himself.
Existing investors like Cadence Growth Capital, signal ventures, and Alleycorp continue as reliable and strong partners, firmly supporting Everphone’s growth ambitions. This further strengthens Everphone’s position as a global leader and the most sustainable Device-as-a-Service platform.
In 2023, Everphone successfully increased its revenue to over €75 million and doubled its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) to €30 million. This strategic capital infusion will enable Everphone to not only continue increasing revenue but also prepare for international expansion and achieve profitability.
“I am pleased that despite global economic challenges, we have continued to grow, proving that we have created a resilient business model. We are focused on proactive growth, and our success is reflected in the satisfaction of our customers and employees,” said Jan Dzulko, founder and CEO of Everphone. “Our next goal is to reach the € 100 million revenue mark. Additionally, the influx of renowned investors prepares us for the next step towards internationalization in Europe and the USA. I am so confident in our team, service, and especially future growth that I have personally invested in this round of financing as a founder.”
Founded in 2016, Everphone is dedicating a substantial part of its capital to simplify the complexity of end devices and their operation for major clients. This includes expanding the Everphone platform by up to 1 million additional end devices, internationally in Europe and the USA.
“With this customized financing solution, we are happy to offer Everphone the ability to unlock more of its growth potential. Citi’s global reach as well as its broad experience with fast-scaling digital companies form an excellent basis to tackle Everphone’s growth challenges, especially internationally, ahead”, explained Raphael Doerling, Head of Citi Commercial Bank in Germany.
“We are pleased to support Everphone and its innovative business model in its continued growth. The financing through our Venture Tech Growth Financing program aids the company in reaching further milestones,” said Jochen Eichmann, Head of Venture Tech Growth Financing KfW.
The focus for Everphone is also on tapping new commercial user groups and enhancing API capabilities for Business Intelligence and ESG data provision. Already, over 50 % of all end devices are managed through the Everphone API. In sustainability, the platform enables large companies to easily meet crucial ESG reporting requirements for sustainable IT strategies. Additionally, Everphone’s cybersecurity offering ensures the highest standard of data security on devices, addressing a key challenge for IT executives.
“We are extremely supportive of Everphone and its strong management team who demonstrated flawless execution in a complex market environment and benefits from untapped growth potential to further deploy its innovative solutions,” commented Louis De Clercq at Capnor.
Sebastian Eiseler, Partner at Cadence Growth Capital (CGC), added: “As the largest investor in Everphone, we are proud to have attracted more internationally leading financing partners for Everphone and see this as an important milestone in the further profitable scaling of the company.”
Read the orginal article: https://www.eu-startups.com/2024/01/berlin-based-everphone-secures-e270-million-series-d-to-add-one-million-device-users-to-its-circular-device-as-a-service-model/
