Aarhus, Denmark-based Understory, a software company that offers business bookings, payments, a dashboard, and marketing services, has raised €12M in a Series A funding round.
The round was led by London-based Smedvig Ventures, a high conviction investor backing the best of B2B tech across Europe.
“Understory stands out with a stellar team, a clear vision, and a product that is only at the beginning of its journey to enable experience providers globally. We look forward to supporting the company’s journey and seeing how it creates even more value for both businesses and their guests,” says Jonathan Lerner, Partner at Smedvig Ventures.
In addition to Smedvig Ventures, the new investors, including People Ventures and Sequel, as well as existing investors Seed Capital and Firstminute Capital, also participated in the round.
“With this investment, we can further develop our product and infrastructure while also expanding Understory internationally. By entering new markets, even more experienced businesses will gain access to our tools so they can attract more guests, open new revenue streams, and focus on what matters most: delivering unforgettable experiences,” says Lasse Kjær, CEO and Co-Founder.
The announcement comes at a time when the Danish company has achieved significant progress.
It is currently serving customers in ten countries and has increased its customer base sixfold over the past year.
Additionally, it has been recognised by Notion Capital and Google Cloud as one of Europe’s 100 most promising software startups in 2025.
“We are incredibly proud. This is an important recognition of the work we have put in over the past few years and of the vision we are pursuing. The investment allows us to take Understory to the next level. Let there be no doubt: our ambition is to revolutionise the experience industry,” says Lasse Kjær, CEO and Co-Founder.
What does Understory solve?
Founded by Lasse Kjær and Lars Rasmussen, Understory aims to make it easier for people to create and share experiences.
This is the second time that Lasse Kjær, together with co-founder Lars Rasmussen, has built a growth company. They previously created Truestory, which today is the largest experience portal in the Nordics.
Many younger individuals are spending more on experiences, yet about 50 per cent of commerce still occurs offline, according to McKinsey & Company.
This creates a challenge: consumers want to discover, choose, and book experiences all at once, while providers often rely on outdated systems.
Understory offers an AI-driven platform that combines booking, payment, and marketing into one system.
In simple terms, it assists businesses such as tour operators, activity hosts, and experience providers by managing bookings, payments, and marketing all in one place.
Instead of relying on outdated systems, providers can use Understory’s platform to automate various tasks, attract more guests, and grow their businesses.
The goal is to simplify the process for people to discover, book, and enjoy experiences instantly, while providing providers with the digital tools they need to scale their operations effectively.
Beyond its core product, Understory has launched initiatives such as Female Founders Lab, an academy for women who want to create or grow their experience businesses with support and mentoring along the way.
At present, the company employs 44 people across its two offices in Denmark’s largest cities are Aarhus and Copenhagen.
“It is inspiring to see how quickly Understory has grown into a change-making company. The experience market is massive, but it is the people behind it who make the difference. We are backing a company that provides hosts with the right tools to succeed – and that is exactly the kind of impact we want to support,” says Ulla Brockenhuus-Schack, Founder and General Partner at Seed Capital.
