DLA Piper advises Cloudflight on financing round for HR tech startup TeamEcho

DLA Piper has advised Cloudflight as an existing investor in a financing round totaling EUR1.3 million for HR tech startup TeamEcho based in Linz, Austria. In addition to the existing investors, TeamEcho was able to secure the participation of well-known investors in Germany and Austria with seed + speed Ventures, the VC fund of Carsten Maschmeyer, the investment vehicle 8eyes around Runtastic founder Florian Gschwandtner and the OÖ HightechFonds.

The renowned software developer and AI solution provider Cloudflight helps companies drive their digital transformation and delivers scalable, flexible custom software that can be implemented quickly and seamlessly.

TeamEcho, with its anonymous employee feedback tool, helps its customers to create a working environment in which everyone can develop their full potential. As a continuous mood barometer the tool provides an up-to-date view of the working atmosphere at any time making it easy to identify emerging problems as they arise and to find quick solutions. Since the foundation of TeamEcho, Cloudflight has supported the founding team with the development of the software product and the successful growth of the company.

Cloudflight was advised by a DLA Piper team led by partner Simon Vogel (Corporate/Private Equity, Munich).