Swedish VC Fairpoint Capital backs ONEiO in €7.2M funding round: Here’s why

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ONEiO, a Helsinki-based SaaS startup, announced that it has secured €7.2M in a new funding round led by Swedish VC firm Fairpoint Capital. Previous investors Inventure and Tesi also  participated.

The Finnish company will use the funds to accelerate its growth and market expansion into Central Europe and North America. 

“Integrating external service providers into ERP processes enabling full transparency and control into the supply chain is nothing new. It’s something that hasn’t been a reality in IT services due to missing standards and much more complex use cases and lack of resources. This leads to a situation where companies put a lot of effort into manual work, updating and moving requests, copying information and data between different internal and external teams and applications, resulting in bad employee experience, customer satisfaction, and inefficient operations. At the end of the day, all parties lose time and money,” says Juha Berghäll, CEO of ONEiO.  

“That’s where we come in and offer an easy solution for cloud-based integrations,” he adds.

ONEiO: What you need to know

Founded in 2011, ONEiO aims to eliminate all traditional integration challenges by automating integration delivery as well as production and providing it as a cloud-based, enterprise-grade service with an affordable pay-per-use pricing model. 

The company’s cloud-based integration platform offers both internal and external IT as well as technology service providers a quick way to collaborate between customers, vendors, suppliers, and subcontractors. 

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“Instead of trying to build and maintain IT process and data integrations on an integration platform (iPaaS), enterprise IT and service providers choose our solution where they can just subscribe to the integrations they need”, says Berghäll. 

“We are providing them with all missing bits and pieces and domain expertise as a service from the cloud. Customers can get even the most complex multi-point process integrations set up in days instead of weeks or months. We are not just another integration platform provider but a cloud-native service provider that knows what it takes to manage and deliver IT services. We have been there,” he says.

The company’s clients include CGI, CDW, Bechtle, Cancom, Atos, TietoEvry, and enterprises such as Bayer, Volkswagen, and Schindler.

Investors

Based out of Stockholm, Fairpoint Capital is a Nordic B2B technology Venture Capital investor focusing on unique technologies and business models.

“We’re excited to support the team in turning their vision of a revolution of enterprise integrations into a reality. The ONEiO team has a successful track record in the integration space, and their experience shines through as they clearly understand customers’ needs. As the company now starts to see strong growth in the DACH and US markets, we are happy to help them scale the operations to become an international leader in their industry,” says Hadar Cars, Fairpoint Capital’s Investment Director. 

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