Freespee receives €9.5 million in venture investment from Verdane Capital.

Freespee, an Uppsala, Sweden-based SAAS company that helps consumer brands better engage and convert online customers, announced a €9.5M ($11M) capital investment from Verdane Capital.

The money was invested from Verdane Capital IX and will be used to accelerate the product development and R&D investment, as it aims to double its engineering team.

In conjuction with the investment, Verdane’s Partner Pål Malmros, will be joining Freespee’s Board of Directors alongside earlier investors Ventech, Inventure and Sunstone Capital.

Freespee, founded in in 2009 by Carl Holmquist and Tobias Lindgren with seed money from Inventure, grew from providing lead generation management tools (Call Tracking and Pay-Per-Call solutions) to a cloud conversation management with a focus on conversational commerce, becoming an internal tool used by marketing, sales and service teams. The company has 80 employees in four offices, expects revenue to grow by 80% in 2018 and has recently signed deals with Fiat, Vauxhall, Peugeot, Club Med, E-on and eBay.

Freespee has previously raised about $17M in capital investment, from investors including Inventure, Mathias Ackermand, Sunstone Capital and Ventech.