SAP Invests €10 Million in Software-as-a-Service Solution Provider, Rum

SAP Invests €10 Million in Software-as-a-Service Solution Provider, Rum

SAP announced that it will invest €10 million in Ruum.

Founded in 2016, within SAP,  Ruum is a powerful, intuitive, lightweight project management and collaboration tool. It is a  portfolio company from SAP.iO Venture Studio, the internal incubation program managed by the SAP.iO business unit.

Executive Opinion

Chief innovation officer, SAP, Max Wessel, said, "Ruum provides a lightweight collaboration layer across the SAP portfolio and allows users to put operational data into action. This has the potential to streamline messy workflows across the enterprise. It’s a great idea coming from a group of employees who’ve lived through the pain."

Chief digital officer, Martin Böhm, Beiersdorf, said, "Ruum has changed the way my teams collaborate and get work done. They spend far more time adding value to the business and far less time on repetitive admin. It has increased team productivity by at least 30 percent, and this has a direct impact on our bottom line."

About €10 million investments 

Ruum came out of a project management software which was initially developed by a team of SAP employees. The software-as-a-service (SaaS) solution connects enterprise business processes with team productivity. Ruum also integrates with the core SAP product portfolio as well as popular collaboration platforms, such as Microsoft Teams and Box Inc.

Ruum has 30,000 users from 2,000 different companies. There are 200 nonprofit organizations that use the software free of charge. NIVEA parent company Beiersdorf AG also uses Ruum platform. The growth of Ruum has been organic with almost zero marketing spend, notes the announcement.

The infusion of €10 million will help grow Ruum penetrate into the global small and midsize business (SMB) market and also focus its enterprise offerings, says the announcement.

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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