Stockholm-based martech startup Funnel facilitates businesses with smart data sourcing integrating all marketing and advertising platforms. It has just secured a fund infusion of €7 million from Oxx, Balderton Capital, Industrifonden and Zobito.
Now after the round, Funnel has brought its total funding amount to $21 million. The startup allows enhanced marketing performance eliminating the age-old intricate course of manual spreadsheets.
Oxx General Partner Mikael Johnsson stated, “We are very excited to be investing in Funnel, a business with a fantastic team and product, as well as great momentum. Funnel’s strong growth and excellent customer feedback is the result of a great product that solves a significant challenge for many businesses: reporting accurate marketing data in a timely way. Funnel is exactly the type of business we at Oxx are looking to back: a high-performing B2B software business solving a significant problem, with global potential.”
400+ data sources
Founded in 2014 by Fredrik Skantze and Per Made, Funnel specialises in data sourcing, transformation and feed. The startup integrates over 400 advertising and marketing data sources and assorts in powerful data mapping interface.
Finally, the data gets automatically fed into preferred destinations such as business intelligence system, data warehouse, dashboards, Google Sheets or Analytics.
Trusted by industry leaders
Funnel caters ranges of data-driven sectors including e-commerce, media, consumer products, B2B software technology, mobile applications and gaming & entertainment with its real-time automated marketing and advertising data solution. Industry stalwarts like Samsung, Farfetch, Ubisoft, Trivago and Pipedrive are among Funnel’s clients.
Invigorated with the latest funding, Funnel is going to escalate its global expansion. Meanwhile, the United States where it had opened an office in 2016 will remain in priority for bolstering its presence.
Fredrik Skantze, Funnel CEO articulated, “At the stage of rapid growth and international expansion that Funnel is now in, it is valuable to work with a specialised and experienced B2B software investor like Oxx, that can help take the company to the next level. Mikael Johnsson has already provided us with valuable advice and guidance for a number of years and we are pleased to now further cement the relationship with this investment by Oxx.”
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