Pimcore Closes First Round of Funding
Pimcore, a data management and user experience management open-source platform, has successfully closed the first round of funding. The investment is led by German Auctus Capital Partners AG, and will support the Austrian tech startup’s product development efforts, US go-to-market strategies and India expansion plans. Pimcore has built a pool of India-based IT services companies as its system integrator (SI) partners, such as Infosys, Happiest Minds and UST Global. It is also in active conversation with other Indian IT heavyweights such as Cognizant and HCL to expand its partnerships. These partnerships are in recognition of the strategic role of Indian IT services firms in expanding the global enterprise market for software platforms.
To facilitate close collaboration with Indian IT services firms, all global customer implementations will be led by Pimcore operations centre in Noida. In addition, product development will take place between Pimcore development centres in Austria and India. The India centre is expected to enable Pimcore in developing disruptive content and commerce capabilities for enterprises.
The company’s India-powered development plan is boosted by its recent acquisition of US-based Pimcore Global Services (PGS) and its infrastructure in Delhi. “We can deliver outstanding Pimcore solutions and services on a global scale at competitive rates working from India. This operating model in combination with Pimcore’s open-source philosophy can be a clear game changer in the digital platform market segment,” said Shashin Shah, CEO of Pimcore. “As an open-source software platform, and the only one that consolidates both data management and user experience management, Pimcore is the new-age alternative to expensive and inflexible digital platforms such as SAP, Adobe and Oracle”.
The platform has experienced a significant growth since it was founded in 2013. It currently serves more than 82,000 companies across 56 countries in 20 languages, including global enterprises such as Audi, Burger King, Continental and Intersport. The ecosystem is supported by a global network of more than 100 implementations and consulting partners.
“We’ve identified an incredible need for more flexible and connected data solutions for global enterprises, and strongly believe control over intellectual property and software belongs in the hands of our customers. That’s why we’ve developed our technology to be completely free of license cost,” said Dietmar Rietsch, Founder and CEO of Pimcore. “Our open-source model is unprecedented among data management and experience providers and we’re excited to use this funding to supercharge those capabilities for enterprises around the world.”
The company is also looking at the launch of Pimcore cloud, sometime during mid-2019, the operation of which, including monitoring and support, will happen out of India. Since all innovation in the recent years in areas like cloud computing, big data and artificial intelligence (AI) have taken place in open-source ecosystems, the time is ripe for open source to extend its capabilities to current and future customers in 2019 and beyond.
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