Swedish software as a service (SaaS) which is also a leading European Data Platform for marketing just closed a Pre-IPO investment of primary capital. However, it comes as Funnel secured €57.1M which meant for the continued rapid expansion of the company’s growth.
The latest funding round was led by The Fourth Swedish National Pension Fund (AP4) and Stena Sessan, the round also saw the participation of existing investors, notably Eight Roads, F-Prime, Balderton Capital, Oxx, and not excluding Industrifonden. Although, the latest is in the meantime considered as the last private funding round before the company’s planned initial public offering (IPO) on Nasdaq Stockholm.
Funnel is a company founded in 2014, and a known Data Platform which solves the problem of measurement and performance optimization precisely for teams and marketing organizations.
It’s worth noting that the subject platform with its built-in marketing connectors is designed to collects data required by marketers, which also lets them analyze performance easily through its leading visualization tools. Yet, a tool designed to offer marketers easy to navigate the interface without needing technical teams or coding knowledge. All these are done with the aid of automatic curation and data harmonization that are needed by analysts and marketers to obtain the actual real-time insights for better decisions.
Furthermore, it’s understood the subject company has made a significant impact in this space, which at the moment is proven owing to the fact that the company now command over 1,200 innovative digital marketing teams, and these include Trivago, Skechers, Home Depot, Vodafone, Samsung, Logitech, Skyscanner, SAS – Scandinavian Airlines, which also cut across leading media Agencies like Ogilvy, DAC Group and Havas Media.
Meanwhile, Funnel securing €57.1M is also a step towards its Pre-IPO, and to that end, the CEO and Co-founder ‘Fredrik Skantze’ said: “The market has matured substantially since Per Made and I founded funnel. Back in 2014, it was mostly eCommerce and app companies that cared about measuring digital marketing performance. Now, it is top of mind with virtually every marketing organization, something which is evident with our customers and has driven our strong growth. With AP4 and Stena Sessan we are bringing two large public market investors on board, and we look forward to working with them as we prepare to take the company public”. – Per EU Startups.
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