Service Partner One: 2017 Virtually Dead – Now Profitable

July 2018

Service Partner One: 2017 Virtually Dead – Now Profitable

In the summer of last year, the young Berlin-based startup Service Partner One, launched in 2015, was on the brick of collapse. The B2B company, which had set out to digitize office management, employed around 120 employees. In spring 2017, there was a complete clear-cut and restart.

Philipp Andernach took over the management. He was previously serving as the Chief Operating Officer of the company for several months. His task was clearly defined: He should try and establish the model with a much smaller team than before. “I was often asked why I have decided to take over this difficult task at Service Partner One. For me, three particular prerequisites have always been important in any engagements: an environment in which one is challenged, in which one has direct influence and in which one has the chance to change an entire industry”, says Andernach about his motivated decision to take on the task.

Service Partner One positioned itself as a “digital solution for office services” in mid-2015 and had investors such as Rheingau Founders providing a six-digit sum. With a, later on, around 10 million USD flow into the company, the startup grew drastically fast. The downside was the enormous loss and poor figures in 2016, which led to the change and a new start for the company and its employees.

“We corrected the mistakes and started all over with a new team. The company’s culture undertook a massive change with a strong focus on performance and value creation”, says Andernach. Together with Hanspeter Wehle (Finance) and Elsa Cordonnier (Product) he then set to work on rebuilding Service Partner One. “Today, we only have three employees who were here before me”, says Andernach. “We have a different focus which is mainly on the product and technology development. Through the change, we have successfully achieved a turnaround”.

Investors have also continued to believe in Service Partner One – even if the company will certainly no longer be a billion worth company.

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