Engagement — Platform Due Diligence
Code & Co. provides AI & Tech Due Diligence to EMERAM ahead of its investment in hello again, the Austrian white-label customer loyalty platform for retail, hospitality, and service businesses.
Funds advised by EMERAM are investing in the Austrian customer loyalty platform hello again in order to work alongside the founders and the existing management team to strengthen hello again's market position in the DACH region and drive its expansion into further European markets. The founders and initial investors will retain a stake in the company following the transaction and will play an active role in shaping the next phase of growth alongside the new partner.
Scope of work
Code & Co. advised EMERAM on AI & Tech Due Diligence through an in-depth evaluation of hello again's customer loyalty platform, spanning the product and its roadmap, point-of-sale and ecosystem integrations, customer experience, and competitive positioning. Particular attention was paid to the AI strategy, the AI capabilities already in production, the underlying first-party data asset, and the cost structure and unit economics of these capabilities.
Code & Co. examined the architecture and technology stack, infrastructure and scalability, resilience and business continuity provisions, the cyber security posture, and technical debt and open-source licensing. The engineering organization, its software development lifecycle, and the certification and regulatory landscape, including data protection, completed the scope.
About hello again
hello again, founded in 2017 and headquartered in Leonding near Linz (Austria), develops software for digital customer loyalty programs and is aimed primarily at businesses seeking regular contact with their customers. The white-label SaaS platform enables customers from all sectors (including retail, the hospitality industry, bakeries, as well as pharmacies and leisure facilities) to set up their own, bespoke loyalty programs and personalized marketing initiatives. Since its foundation nine years ago, hello again has grown from a start-up into one of the leading providers of digital customer loyalty in the German-speaking world. More than 1,000 businesses, ranging from regional companies to internationally renowned brands, now rely on hello again's app solution. Its clients include companies such as Deichmann, Müller and L'Osteria. In total, around 18 million app users are already using hello again. To learn more, visit helloagain.com.
About EMERAM
EMERAM is one of the leading investment managers for medium-sized companies in German-speaking countries. Funds advised by EMERAM provide more than €800m of capital for the development of growing companies. The portfolio includes companies from the investment themes of digital transformation, health and well-being, and energy transition. EMERAM acts as a long-term business development partner for its companies and promotes the sustainable growth (organic and inorganic) of the portfolio companies. In addition, the company focuses on the implementation of holistic ESG concepts. EMERAM Capital Partners was founded in Munich in 2012 as an independent partnership. To learn more, visit emeram.com.