17 January 2020:
Funnel has raised $47 million in Series B round of funding. The funding round was led by Eight Roads Ventures and F-Prime Capital.
Existing investors Balderton Capital, Oxx, Zobito and Industrifonden as well as Kreos Capital also participated in the funding round.
Alston Zecha from Eight Roads Ventures has joined the Funnel Board of Directors.
The company will use the fresh capital to accelerate its plan in the US, where it is seeing strong demand from enterprises, and invest heavily into its technical teams to further the vision of creating a single source of truth of marketing, sales and other commerce data.
Alston Zecha from Eight Roads Ventures, said, “Funnel solves a critical pain-point for a growing number of marketers, from midsize companies all the way to very large enterprises. There was no stronger validation for us than the fact that several of our portfolio companies are already amongst its many delighted customers. We have been really impressed not only by Funnel’s world-class technology, roster of clients and rapid growth, but also by the inclusive, transparent and customer-centric culture of this great team.”
Fredrik Skantze, CEO and co-founder, Funnel, said, “Per Made and I founded Funnel after many years of being frustrated by ineffective reporting getting in the way of unlocking the power and promise of digital marketing. We soon discovered that we were not alone in our frustrations, with explosive inbound demand that has seen the business double or more every year.”
Fredrik Skantze, added, “We are really pleased to have Eight Roads Ventures and F-Prime Capital onboard. With teams in the US, UK, China, India, Singapore and Japan they are truly a global platform that we can lean on for support in our aspiration to keep building a category-defining company that empowers organizations with Business-Ready data for reporting and analysis.”
Funnel was founded in 2014. It takes messy, siloed data from over 500 platforms and automatically generating business-ready data that is fully harmonized, instantly refreshed and always ready to act upon.
(Image – Funnel)