Flowbox announced securing an investment round of SEK 80 million from Viking Venture.

Norway Sweden Investments 05 February 2020
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Flowbox, a Stockholm, Sweden-based SAAS developer, announced getting into an investment agreement for raising SEK 80M ($8.4M).

The money was provided by Viking Ventures.

The proceeds will be used to consolidate presence on key markets in Europe, expand its tech and sales teams, and develop additional products.

Flowbox, founded in 2016 and led by CEO Marcus Carloni, developed a platform that enables companies to use their customers' social media content in their own channels, so-called User-Generated Content (UGC).

The company claims to have almost 400 customers across ten countries supported by 42 employees across offices in Stockholm, Amsterdam, Zurich and Antwerp. Annual recurring revenue (ARR) amounts to EUR 3.9 million (SEK 42 million).

Prior to this round, Flowbox has been fully bootstrapped.