SaaS scale-up Funnel, a leading European Data Platform for Marketing, has closed a Pre-IPO investment of €57.1 million of primary capital to fund the continued rapid expansion of the business. The funding round has been led by The Fourth Swedish National Pension Fund (AP4) and Stena Sessan, with participation from existing investors, including Balderton Capital, Eight Roads, F-Prime, Oxx, and Industrifonden. This was the last private funding round before Funnel’s planned initial public offering (IPO) on Nasdaq Stockholm.
Founded in 2014, Funnel is the Data Platform which solves the problem of measurement and performance optimization for marketing organizations and teams. Its pre-built marketing connectors gather the data marketers need, letting them easily analyze performance through leading visualization tools. Thanks to automatic curation and data harmonization, marketers and analysts get real-team insights to make better decisions, with no coding or technical teams required.
Fredrik Skantze, CEO and Co-Founder of Funnel, commented: “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 onboard, and we look forward to working with them as we prepare to take the company public.”
Over 1,200 innovative digital marketing teams already use Funnel’s Data Platform to date, including Home Depot, trivago, Skechers, Samsung, Vodafone, Logitech, Skyscanner, SAS – Scandinavian Airlines, as well as leading media agencies Havas Media, Ogilvy and DAC Group.