Fishbrain adds $13.5M in series B funding from B Capital Group and Softbank.

Sweden Investments 07 March 2018
Share on FacebookShare on Twitter

Fishbrain, a Stockholm, Sweden-based company managing a social network that lets fishermen share their fishing experiences with friends announced closing a $13.5m investment round in Series B funding.

The investment was led by B Capital Group with participation from SoftBank Ventures Korea. Existing investors Northzone and Industrifonden also contributed to the round.

The money will be used to fuel the company's expansion, expected to double its personnel to 60 people, accelerate user growth, and continue to build out its global fishing platform.

Fishbrain, founded in Gothenburg by Jens Lindman, Marcus Fransson and Johan Attby (CEO), has developed a social network that lets fishermen share their fishing experiences with friends using web and mobile apps.

The platform has about 5 million users and provides an interactive map helping anglers find hot new fishing spots and see what other people are catching, with what bait and specifically where.

The company makes money from selling a premium option available for $6 per month, or $60 per year, which provides features including a fish species recognition tool, marine mapping (provided by C-MAP), forecasts, and bait recommendations.

Prior to this deal, Fishbrain raised a little more than $14M, with the latest round of $3.7M closed at the beginning of 2017.