Porto startup dashdash gets US$8 million investment
The Porto-based startup dashdash has been awarded an investment boost of €6.7 million by US venture capital fund Accel.
The capital injection will enable the promising young company to develop its product and beef up its team by contracting 20 engineers.
The company offers a cloud platform combining interface calculation sheets with back-end sophistication allowing its users to easily create web applications.
In other words, dashdash creates tools that make computation accessible to everyone. Coding used to be hard and relied on complex processes in IT departments and agencies but dashdash has come up with a simpler answer. The company thereby makes computation accessible for all.
The company, founded by Humberto Pereira and Torben Schulz, currently has two offices: Berlin and Porto.
“This investment means that we can focus on our future and double our technical team by upping this team from seven to 30 engineers,” says Humberto Ayres Pereira, company co-founder.
In an interview with digital newspaper ECO — economia online, Pereira said that the investment would be used to improve the product. “We started dashdash to democratise the creation of web apps so that people without any knowledge in programming would have the opportunity to use computation and activate their data”.
Accel says its aim is to seek out entrepreneurs and help them through their earliest days through all phases of growth and help turn their “seeds of promise” and grow them into amazing and enduring companies.