Helsinki-based Leadfeeder, a company that helps B2B companies generate new leads from website analytics, has announced it has closed a €3.1 million Series A investment round.
Founded in 2012, Leadfeeder uses Google Analytics data to reveal the names and behaviour of the companies visiting your website. This data integrates with your CRM and email marketing tools, pointing your sales department in the direction of companies interested in your services, thereby bridging the gap between inbound interest and cold calling. Leadfeeder does not capture personal information about website visitors, and is GDPR compliant.
The round was led by Dutch growth capital firm Endeit Capital, with Finland’s Superhero Capital and Vendep Capital also participating. The company will use the capital to further develop its AI-powered B2B lead automation tool, as well as to hire new talent and expand internationally.
“We are extremely excited about our investment in Leadfeeder as it brings together key ingredients for success: A stellar and experienced team, laser-focused on creating value for their customers, best in class technology that is solving a hard and very real problem for sales teams, and exceptional traction for their solution in the US,” said Jelle-Jan Bruinsma, Partner at Endeit Capital.
“Leadfeeder is a pure-play B2B SaaS and thus is in the very center of our investment focus,” said Vendep Capital’s Jupe Arala. “The initial investment was based on the competence of Pekka and his team. We have been impressed by Leadfeeder’s continuing progress in forging relationships with great partners and its growing international footprint.”
“We are very excited by our new partnership with Endeit Capital and for the continued support of Superhero Capital and Vendep Capital,” said Leadfeeder CEO Pekka Koskinen. “Most B2B companies find it hard to continually generate new leads, and the process of identifying, qualifying, and handling new leads tends to be laborious and time-consuming. Leadfeeder automates the whole lead generation process, so your CRM is never empty.”
Leadfeeder has seen its revenue double year-on-year to an annual run-rate of €4 million, with the US and EU markets seeing significant growth. The company will use the funds to further develop its technology to better classify successful leads and accelerate its growth in the US and Europe.
“We are already using machine learning to enrich and classify the organizations identified by Leadfeeder,” continued Koskinen. “Going forward, we will use machine learning for lead scoring based on aggregated data from all customer sales and marketing tools.
“We want to work with the best talent we can find, that’s why we don’t limit ourselves to the city in which we are located. We recruit where the need lies, and recruit the best experts. This means we can serve companies across the globe and create category-leading solutions.”
“Leadfeeder is one of the best companies in our portfolio, which has grown 10x since we initially invested at the seed stage. For us, participation in this round really was a no-brainer,” concluded Superhero Capital’s Juha Ruohonen.