Amsterdam’s Sparkbase, an AI sales automation startup, has been acquired by Tim Hoefnagel and Jonathan de Zoete, the founders of Utrecht-based Squeezely, now Spotler Activate.
The Amsterdam-based company transitioned from idea to product, secured its first clients, raised investment, experienced rapid monthly growth, and has now been sold after four months.
MTSprout reports that the financial details of Sparkbase’s acquisition remain undisclosed, aside from a fixed amount and an earn-out structure. The first offer was not immediately accepted, but an agreement was eventually reached.
What does Sparkbase offer?
Founded in 2023 by Jan De Wulf and Klaas Foppen, Sparkbase develops AI-powered sales automation tools. The company’s first AI sales agent, Cara, assists salespeople in identifying and reaching potential customers. Sparkbase launched its product late last year.
Cara automates tasks such as finding potential customers and composing emails. The software gathers information from websites, social media, and news sources to identify prospects and generate personalised outreach messages.
Co-founder Jan De Wulf, with experience in sales and marketing at Google, Red Bull, and Snapchat, observed the potential for automation in sales. Foppen, with a background in computer science, previously worked at startups including Harver, Foodsy, and Podvine.
Since its launch, Sparkbase has gained 450 business clients, including Revolut, BCG, and HelloPrint, which use Cara to streamline outbound sales. The company operates on a subscription model, with pricing ranging from just under $2K to nearly $5.5K per year.
The new owners!
Sparkbase is now owned by Tim Hoefnagel and Jonathan de Zoete, who previously founded Squeezely, a customer data platform they sold in 2021. MTSprout reports that the new owners plan to expand the AI sales agent into a business with a global customer base, drawing on their experience in scaling companies.
Hoefnagel sees potential for AI in customer acquisition. He believes the market includes many professionals in sales and recruitment and envisions Sparkbase growing into a company with thousands of customers and a team of 30 to 50 employees.
Hoefnagel emphasised the importance of clear product use cases, noting that Sparkbase addresses the challenge of finding suitable leads, a process he found time-consuming in his previous role at Squeezely.
The acquisition resulted from networking efforts. De Wulf and Foppen sought investment, while Hoefnagel and De Zoete were looking for a company to acquire. The deal was further connected through investors Mike de Boer and André Grimbergen, who had backed Sparkbase through Quantum Leap Capital and were also customers of Squeezely.
“So the circle is complete. Everyone immediately had a let’s go feeling”, says De Wulf.
New owners plan expansion
The new owners of Sparkbase have outlined plans for expansion, with Tim Hoefnagel as CEO and Jonathan de Zoete as CTO. They aim to scale the technology further, targeting markets in the Nordics, the UK, and France.
Hoefnagel emphasised keeping the product focused on AI-driven lead qualification, ensuring a straightforward user experience that integrates with existing sales and HR workflows. He believes listening to customer feedback provides a competitive advantage.
Regarding competition from larger companies, particularly in the US, Hoefnagel expressed confidence in building a strong customer base through strategic focus. Drawing from experience with Squeezely, he noted that European expansion requires navigating different markets, systems, and languages individually.
What’s next for Sparkbase founders?
Jan de Wulf and Klaas Foppen, the founders of Sparkbase, will remain involved in the company and the development of Cara for the time being. De Wulf stated they had completed the transfer but could still assist with any emerging issues.
In the long term, the founders are expected to step away from Sparkbase. This marks the end of De Wulf’s first entrepreneurial venture after his business career, though he intends to pursue new opportunities.
De Wulf expressed his passion for AI, entrepreneurship, and technology, noting that he has already received several offers. Before moving on to the next project, he plans to take a break after two years of intense work.
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