Branding automation company Bynder announced it has secured a whopping €20 Million in Series A funding. The company making the investment is New York-based venture capital and private equity firm Insight Venture Partners.
Bynder develops marketing software that should enable marketeers to easily create, find and use their content. Marketing departments and agencies can collaborate from any location and at any through the customised online Bynder portal, in order to work on all kinds of content. Bynder also prides itself on being a trusted and secure host for intellectual property.
Parallels with Salesforce success
The capital will be used to continue international growth and to support further product development. This way Bynder can assist brands worldwide even more with creating, finding and using digital content. Chris Hall, Founder and CEO of Bynder comments, is already drawing parallels between his own company and the success of Salesforce:
“We can now use this investment to accelerate profitable growth. What Salesforce did for sales tech, Bynder can do for brands. The cloud is allowing marketers to work faster and smarter, freeing up time for creative and strategic initiatives instead of repetitive administrative tasks. Branding automation lets marketers respond to real-time issues because there is a foundation for brand materials, which is accessible and consistent across the business. This new category of Mar-Tech will be a game changer for any brand.”
Jeff Horing, managing director at Insight Venture Partners, will join Bynder’s Board of Directors. Horing explains why it was an easy decision for Insight Venture Partners to invest such a large sum in Bynder:
“Bynder is a clear innovator in the branding automation market. We share their vision for comprehensive brand management technology, that enables teams to seamlessly communicate as they create content.”
The Bynder platform has more than 150,000 users already, working for more than 350 different brands worldwide. The company’s headquarters are located in Amsterdam, and among its more than 350 brands are such prestigious Dutch companies like KLM Royal Dutch Airlines and AkzoNobel. Another big client is Swiss hardware developer Logitech. In just three years’ time the staff count has grown from 1 to 200. Just two months ago, Bynder announced its opening its newest office in Dubai to support continued growth and demand for the Middle East and for the company’s growing customer base in the region.