This B2B software VC raises €122.9M to invest in revolutionary European SaaS startups

The B2B SaaS venture capital firm Oxx believes that Europe has a unique opportunity due to the increasing number of founders not stopping with just one B2B software business, and abundance of relatively affordable and highly skilled tech talent. Yet, there are lower levels of VC investment per capita.

Founded in 2017 by Richard Anton and Mikael Johnsson, this VC pitches itself to invest broadly across software applications and infrastructure. Oxx focuses on five key aspects such as future of work, user empowerment, sustainable business, data convergence & refinery, and financial services infrastructure.

Raises €122.9M funding

Oxx, a B2B SaaS venture capital firm headquartered in London and Stockholm has raised €122.9 million to support the most promising SaaS companies in Europe from Series A and beyond. This fund is backed by leading investors such as British Patient Capital and various institutions, high-net-worth individuals, and family offices.

Portfolio of companies

Already, Oxx invested in startups such as Funnel, which automates marketing performance reporting and intelligence for businesses; Codility, a comprehensive tech recruiting platform for hiring at scale; and Apica, a performance monitoring platform meant for large enterprises.

Oxx focuses on changing the ‘growth at all costs’ mindset that prevents in B2B software investment. Eventually, it encourages companies in its portfolio to build sustainable business that help them retain market dominance instead of the one-size-fits-all ‘growth at all costs’ model.

Richard Anton, co-founder and General Partner of Oxx said, “Cloud architecture and applications continue to evolve rapidly and create amazing entrepreneurial opportunities, but the way some companies are funded is unsustainable: unicorn or bust. We believe the next phase has to be different. Not all SaaS companies fit the traditional VC mould, and while we absolutely support companies to grow well, we don’t push them for growth at all costs. Oxx’s raison d’être is to make sure that companies that already have strong commercial traction are primed and ready to drive continued sustainable growth towards market dominance. In a climate of ‘growth at all costs’, this makes us contrarians; we are seeking out our founder counterparts.

Mikael Johnsson, co-founder and General Partner of Oxx added, “As a firm, our approach is to play producer, rolling up our sleeves to keep the show on the road. We help out and add value in whatever way we can, ensuring that the entrepreneurs building these businesses are the stars of the show.”

Main image picture credits: Oxx

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