Last year, the PropTech startup Wowflow received a pre-seed investment of EUR 300,000. This year, the young company received a seed investment of one million euros. Wowflow is a Vienna-based company that has developed collaboration and workflow software for facility management teams. With the funding received, the young company wants to improve its position in the DACH region.
Wowflow will redefine Facility Management
Financially behind the startup are Austrian investors such as Markus Ertler, Gernot Singer, Kambis Kohansal Vajargah and Hermann Futter. Also present are High Rise Ventures and Lemonade Stand as well as Stefan Polletin, Peter Steinberger and Rolf Adam.
According to Wowflow, facility management is the fourth largest employer in Europe and accounts for 10% of all employees. These are the cleaning and maintenance workers in offices and buildings. However, the day-to-day work of most facility management teams is chaotic. Too much energy is spent getting the entire team’s work done on time and on budget. The young company wanted to solve this problem.
“I know how complex and thankless building maintenance can be. All the little tasks that you have to keep track of are constantly stressful. On the other hand, you don’t even know if the team or the contractor is delivering what they promise. And an ever-present question : Why not go cheaper?” said Drazen Ivanis, Founder and CEO of Wowflow. A company’s software should give management the flexibility to coordinate tasks.
Wowflow has 40 customers in five countries, mostly cleaning companies. The startup hopes to use the funds raised in this round for market expansion. The focus is on further expanding onboarding and ease of use for executives, seamless cross-company collaboration and integration with existing market leaders in computerized building management and ERP software providers.