Funnel closes a $10 million investment round led by Balderton to further expand its SAAS marketing products.

Sweden Investments 19 September 2017
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Funnel, a Stockholm, Sweden-based company providing a SaaS product analyzing the media and advertising budgets, announced closing a $10M Series A financing round.

The money comes from Balderton Capital and existing investors Industrifonden and Zobito and will be used to invest in the further development of the company.

Funnel, founded in 2014 by Fredrik Skantze and Per Made, developed a software soution that aims to replace the use of spreadsheets by letting marketers automate their online marketing data from multiple platforms in real-time, so that they can more accurately analyse their online marketing spend.

The company, which employs 32 people, supports 265 advertising platforms, is a Google partner and opened an office in Boston at the end of 2016, with a quarter of revenue coming from the US market.

Prior to this transaction, in 2013, Funnel (at that time Qwaya) raised $3M from Industrifonden and Zobito.