Coresystems grabs $15.5 mln in Series A funds

Coresystems said Thursday that it has raised $15.5 million in Series A funding from private Swiss and German tech investors. According to the firm, the capital will be used for product enhancements as well as business development and sales initiatives. Also, Coresystems has hired Torsten Svensson as global head of sales. Headquartered in Windisch, Switzerland, Coresystems is a provider of cloud-based mobile business solutions.


Windisch, Switzerland — 7 November 2013 — Today, coresystems, the mobile cloud field service company announced that it has raised 14 million Swiss Francs ($15.5 million, £9.6 million, €11.3 million) in its first round of funding (Series A) from a consortium of private Swiss and German technology investors.
The new funding is being used to accelerate product enhancements and business development and sales efforts to meet the growing demand for coresystems’ mobile cloud apps and software products that help companies large and small manage and deliver the very best customer service. coresystems will also strengthen its global market presence, expanding its sales and support teams in key locations worldwide.
“In today’s challenging business environment, companies are increasingly seeking new and innovative ways to deliver customer service that sets them apart from their competitors. coresystems has been helping companies of all sizes to deliver a deeper customer experience whilst improving efficiency, productivity and quality to increase loyalty and help grow revenues,” said Manuel Grenacher, coresystems CEO. “We are delighted to have the support and expertise of our investors to expand our vision of helping companies around the world to deliver the very best service to their customers.”
“We expect the mobile field service market to continue to grow rapidly as enterprises of all sizes look to increase efficiencies and grow revenues by delivering stellar customer service,” said Peter Zencke, private tech investor and former SAP AG board member for research and development. “In coresystems, we have invested in a company with the team and proven technology to fully realise the opportunities in this exciting and expanding market.”
Launched in 2006, coresystems provides mobile cloud solutions for small, medium, and large enterprises to let them better serve their customers. Customers span a range of industries and sizes, including global power generation equipment supplier Alstom, global automated storage supplier Kardex Remstar, and construction crane specialists Wolffkran to smaller companies, including family-owned timber and joinery business Kalt and medical products provider Fleming Medical.
coresystems is also announcing that it has hired industry veteran Torsten Svensson as Global Head of Sales. Svensson has held multiple regional and EMEA leadership roles in sales and business management for EMC, HP and SAP, and is charged with growing sales and expanding coresystems markets internationally.
Svensson said, “For enterprises, customer service has become a strategic differentiator. Having worked at some of the leading IT firms for over 20 years with large and small companies to manage and improve their business processes, we’ve seen a significant growing demand for mobile solutions that can deliver a vastly improved field service experience, while at the same time increasing the business efficiency of our own customers. I am excited to be taking our solutions to a wider market as we expand globally.”
coresystems products include:
• coresuite mobile solutions: These solutions give field reps all the data they need on smartphones, tablets or laptops to deliver a more efficient customer experience.
• coresuite SAP B1 solutions: These solutions increase the efficiency and ease of use of SAP B1.
ABOUT coresystems:
coresystems is an award-winning cloud-based mobile business solutions company. The company builds innovative platforms, tools and applications that enable small, medium and large companies to effectively manage their business processes and to better serve their customers. In addition, coresystems has a team of qualified consultants to guide complex ERP projects to find solutions that best fit customer needs. Over 100,000 users throughout the world in a range of industries use coresystems’ apps to quickly navigate, capture, record and report on highly complex business processes. Headquartered in Windisch, Switzerland, coresystems was founded in 2002 and currently has 7 offices around the world, including London, New York, and Shanghai.
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About the investors:
Peter Zencke is a German technology investor with an extensive career in business technology solutions. He was a longtime member of the executive board at SAP, the multinational enterprise software firm. At SAP, Zencke was in charge of the division that developed new application platforms and architecture. He also oversaw SAP’s global research and innovation.
Adrian Bult, former Swisscom Mobile AG CEO and former Chief Operating Officer of banking technology firm Avaloq, has had a long career in technology and telecoms. He currently sits on several company boards as an advisory member and is a private investor in various technology companies.