On-demand technical support startup Mila raises USD 2 million pre-Series A round to enter international market

09.06.2022 11:22, Guillaume Tinsel

Mila AG, the European leader in on-demand technical support, has announced its Pre-Series-A funding round of USD 2 million, led by early-stage investment fund Born2Grow Ventures.

The funding followed Mila's successful management buyout from Swisscom in October 2020, with current investors Alpana Ventures, based in Geneva, and Oriza Ventures, based in Silicon Valley, also participating in the round. Mila has more than 11,000 trained technical professionals in Germany, Switzerland, the United Kingdom, France, and Austria.

"Mila has a clear strategy to enter international markets," said Andrea Muth, investment manager at Heilbronn-based Born2Grow Ventures. "Mila has created barriers to entry in the technical support market that are very difficult for new entrants to break through."

Born2Grow Ventures has a diverse portfolio with a consistent focus: finding a team and technology with a clearly defined market.

"We have seen over 300 percent growth in Germany and have signed over 40 brand partners across Europe in 2021," said Chris Viatte, CEO and founder of Mila. "This funding will allow us to further expand our sales and technical teams and replicate our solid success in Switzerland across Europe and the UK."

Mila has offices in Berlin and Zurich and recently opened its first U.K. location in London. The company continues to service telecom giant Swisscom and is seeing growth in services for brands such as Amazon, Otto, BOSCH, and Google, and will launch electric vehicle charging station installations in Germany and the UK in the second quarter.

With the release date of the MATTER IoT connectivity standard scheduled for fall 2022, Mila stands ready as a critical player as the adoption of connected devices explodes - bringing interoperability issues with existing devices. Through the Mila Academy, global brands will be able to offer their customers trained and vetted Mila technicians for installation and configuration services to ensure their technologies work as intended.

"As an investment firm for early-stage companies, we predicted Mila's ability to successfully navigate the management buyout and continue to grow," said Pascal Widmer, founding partner of Alpana Ventures. "We are very pleased to have a European VC provider like Born2Grow Ventures invest in Mila and have confidence in Viatte's leadership skills."

Mila was selected for the TOP 100 Swiss Startup Award in 2014 and 2015.

Source: Mila Press Release