Besedo secures $3.3M from Spiltan.
Besedo, a Stockholm, Sweden-based company offering a platform for different types of content moderation for websites, announced that it secured SEK 30M ($3.3M) in capital investment.
The majority of the new issue is subscribed by Investment AB Spiltan, which now becomes a new major shareholder with just over 22 percent of the shares. The company's chairman of the board, Petter Nylander, has also participated in the total issue of SEK 30M.
The new capital will be used to accelerate the avaialbility of the company's service, automating a large part of the work through artificial intelligence and machine learning.
Besedo AB, founded in 2004 and led by CEO Patrik Frisk, has 400 employees in 6 countries making online reviews and moderatting over 500 million advertisements and publications each year. The company works with customers including Blocket or Ebay Germany as well as global dating sites like Match.com to find fake ads, fight fraud and keep track of millions of pages.
In 2016, Besedo merged operations with the French ioSquare in a cash and stock transaction valued at $5.6M.