Well, the last business quarter of the year is nearly at a close, and what a crazy year it’s been. For Rencore, our partners, and customers, it’s been a highly productive and successful year. With Rencore Governance entering the cloud collaboration governance scene, it was full steam ahead in 2022 to dominate the space.
Closing Series A funding round
Although the final details and communications for closing the 4 million US$ Series A funding round happened in the spring of 2022, the journey of finding the perfect partner began much earlier. We were lucky to find the backing of venture capital investors Capnamic, who shared our vision to help enterprises stay in control of their cloud collaboration technology.
Matthias Einig, Microsoft MVP and CEO and Co-Founder of Rencore said at the time of the announcement:
“We are thrilled to be securing this Series A funding round with Capnamic. They are not only financially invested but also highly experienced in helping technology start-ups, and especially SaaS providers, to succeed at the next level. I am very much looking forward to working with Christian Siegele and the team on becoming the next German start-up success story in their portfolio.”
And Torsten Mandelkow, CTO and Co-Founder of Rencore concurred:
“Capnamic appreciates our standing as the leader in cloud collaboration governance. The foundations we have put in place for the past two years means we are ready to scale now with investment to match the accelerated market demand.”
Here’s what we went on to achieve together throughout 2022.
Growing Rencore Governance
In order to reach the high demand for Rencore Governance, our product team size doubled. We now have the capacity to roll out more new features across our product roadmap and add plenty of new ones too. Here’s a quick rundown of those accomplishments in more detail:
- 6000+ hours summed up for product coding
- 20 larger roadmap items launched
- 70+ updates released
- 1500+ new items added to the product documentation
- More major features in the pipeline for early next year, like Access reviews and provisioning
In tandem, our IT Operations team helped keep the Rencore Governance Infrastructure running all year long, which included running north of 10.000 jobs in the background of Rencore Governance over the year.
In addition to three new team members joining IT Ops, we were also happy to welcome a new daughter and two new cats!
Throughout the year, IT Ops was a crucial part of the Rencore Governance growth by assisting in the release of new features and keeping the product leading edge.
Keeping our awesome culture
Growing to scale the product is one thing but keeping a thriving and positive work culture is crucial for success. And our Business Operations team rocked it this year. I remember hearing someone say, “culture eats strategy for breakfast”. Ideally, we can have a great balance of both, and so far, this has been an enormous success. We methodically grew our team, and every new employee has been a great cultural fit. Here are some highlights:
- Growing bigger by equally growing together
- A bigger, more diverse team
- Great culture
- Great perks and ultimate flexibility
- Working together to achieve a common goal
Trust and security go a long way
A vitally important topic that has kept all of us busy throughout the year is our security and compliance status. Rencore is currently in the process of becoming SOC2 compliant. On request, we can provide interim reports on our current state towards the certification.
Another big win from a cultural perspective is that our Head Office is up and running again. During the pandemic, we were all working from home, but now after some refurbishments, HQ has been welcoming our team members from across the globe!
The road to (Customer) Success
Our customer success team is pivotal in the Rencore Governance journey and was a focal point of our growth throughout the year.
Sven, our new Head of Customer Success, and his team carried on and built on the tremendous foundations, to drive Rencore’s customer-centric strategy. Here are his thoughts on an excellent job done so far:
“Customer success for Rencore is all about providing our existing and potential customers with an excellent support experience that wows our customers with service that goes above and beyond, guiding them to find high value and – dare I say – joy in their daily governance.”
Adding four new team members, including myself, in 2022, we can proudly state that we know our customers inside-out, taking care of them always with a smile, making sure their onboarding experience is second to none, and providing them with best-in-class support and M365 expertise.”
Spreading the word and getting Rencore Governance into the hands of the people
Among the abundance of educational content and webinars hosted throughout the year, we were back to in-person events, mingling with our beloved community. But not before bringing some new team members on board.
The Sales and Marketing teams grew this year, adding invaluable expertise for our partner channel, amongst others. We were ready to head to the conference floors and wow all our many booth visitors.
The first stop was the European Cloud Summit (ECS), in Mainz where Microsoft Azure and cloud computing topics were at the forefront. It was also the first conference we could show Rencore Governance in real life. And we really were blown away by how much Rencore Governance resonated with the audience.
Shortly after, we attended a different type of event that shares our love for Munich as well as baked goods! If you know, you know! Startup conference Bits & Pretzels, although not specific to the Microsoft community, was the perfect chance to network with all types of decision-makers in Tech and showcase the daily challenges organizations face in the new and sometimes daunting world of cloud collaboration.
The next stop was the European SharePoint Office 365 & Azure Conference (ESPC) in Copenhagen where Rencore Governance was recognized as “Best Microsoft 365 Solution” at the ESPC Community Awards 2022. This marked the sixth Community Award in as many years.
Our conference year was capped off with a trip to Las Vegas for the Microsoft 365 Conference where we were able to meet our US partners and customers in person after 2 years of involuntary absence and share in the success of an eventful year.
So, what is there left to say? First and foremost a big THANK YOU to all our employees, customers, partners and friends! Without your support, nothing of this would have been possible. We are so looking forward to continuing this success story in 2023!
But for now, we switch off, reset, and recharge in anticipation of what the new year will bring! We at Rencore cannot wait!