Zürich, Switzerland (31 May, 2022) – Mila AG, the European leader of on demand technical support, announced their successful pre-Series A round of $2M led by early-stage investment fund Born2Grow GmbH & Co. KG. The funding follows Mila’s successful management buyout from Swisscom in October 2020. Geneva-based Alpana Ventures and Silicon Valley-based Oriza Ventures also participated in the round. Mila has over 11,000 vetted and trained technicians and operates in Germany, Switzerland, the UK, France, and Austria.
“Mila has a clear strategy in terms of opening up international markets and has already
demonstrated success with its financial results,” says Andrea Muth, investment manager of
Heilbronn-basedBorn2Grow. “Mila has created market entry barriers in the tech support market that are extremely difficult for new providers to open up. These competitive advantages excite us and convinced us to invest in the platform and in the management team.”
“We recognized the tremendous growth potential for Mila in Germany and the scalability of their business model to expand across Europe and on a global scale,” says Alex Liang, co-founder of Silicon Valley-based Oriza Ventures. “We see our investment as strategically-timed for demonstrable growth in both Germany and the UK, countries where Mila’s professional services are in high demand.”
“As an early-stage investment firm, we recognized the growth potential of Mila during the
Swisscom management buyout,” says Pascal Widmer, founding partner of Alpana Ventures.
“Chris has demonstrated a strategic leadership ability and understanding of the European on demand market through the solid growth we’ve seen over the last 18 months in Mila’s European markets and their burgeoning portfolio of global enterprise partner brands.”