Last week, a news was leaked about Ghent-based software startup Teamleader. The report revealed information about the company’s latest Series-C funding including the amount and the investors. Following the report, now, the company has confirmed the news in it’s official blog posting the entire details.
$22 million in Series C funding
It has been confirmed in the company’s official press release that Teamleader has raised (€18.5 million)$22 million in Series C funding led by London-based Keen Venture Partners, with participation from PMV and existing investors Fortino Capital and Sage Capital.
Alexander Ribbink, General Partner of Keen Venture Partners said, “Teamleader had been on our radar for a while now. Their track record up until now is impressive, and we admire the entire team’s drive. Keen VP will back up its financial support with human capital, providing expertise and access to our network wherever and whenever we can.”
Multiple international investors are a good sign, according to Teamleader CEO Jeroen De Wit:
“The fact that we gathered this substantial amount from multiple international venture capitalists is a major vote of confidence for Teamleader as a company, and proof of the international traction this company has been gaining.”
Offers SaaS to SME’s
Headquartered at Belgium, Teamleader is a SaaS platform helping companies manage their data in the cloud. Founded in 2012 by Jeroen De Wit, Mathias De Loore, and Willem Delbare, the company serves nearly 10,000 customers in six countries, mostly small and medium-sized enterprises.
The company offers the SaaS platform to the SME’s to digitize their business processes that include CRM and sales, project management, time tracking, and invoicing. It’s worth mentioning here that the Teamleader users in 2017 have issued 1.4 million invoices for an amount of € 2.5 billion.
According to CEO De Wit, the capital raise will allow Teamleader to continue increasing the added value of its software for SMEs: “SMEs are no longer afraid of digitization, and are using more and more business software to their advantage. These tools need to work side by side as one, in integrated systems, for SMEs to get maximum value out of them. That’s why we continue to invest in our Marketplace, which offers integrations with many different tools that can work seamlessly together with Teamleader.”
In fact, the company’s growth is rising in Europe, as there are 23 million small and medium-sized enterprises needs help with their digitization plans. The company will be using the fund to maintain its international growth and accelerate its product roadmap.
Double down approach!
Also, Teamleader’s product and engineering teams are planning to double in size to accelerate the product roadmap. Furthermore, the company will double down on multi-local approach and will finetune the product for country-specific needs as well.
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