Ruum, a Berlin, Germany-based provider of a software-as-a-service (SaaS) solution that connects enterprise business processes with team productivity, raised €10m in funding.
SAP SE (NYSE: SAP) will make the investment.
The deal will allow Ruum’s core team of 20 to continue to devote resources to its enterprise offering while moving into the global SMB market.
Initially developed by a team of SAP employees, Ruum provides a SaaS based project management software which has already acquired more than 30,000 users from 2,000 companies, 200 nonprofits, which can use the software free of charge; and six blue-chip enterprise customers, including NIVEA parent company Beiersdorf AG.
The system integrates with the core SAP product portfolio as well as popular collaboration platforms, such as Microsoft Teams and Box Inc.
Ruum is a portfolio company initiating from SAP.iO Venture Studio, the internal incubation program managed by the SAP.iO business unit.