Klevu announced the completion of a €5M Series A round investment from Evli and existing investors.
Klevu, a Helsinki, Finland-based company building software solutions for ecommerce organisations, announced the completion of a €5 million ($5.5M) Series A investment round.
The funding round was led by EVLI Growth Partners with participation from current investors, Inventure and continuing angels - such as Jacob Dalborg and Jonas Dromberg. Ari Korhonen also invested in the round and will join the Board of Klevu.
Klevu, founded in 2013 and led by Nilay Oza, CEO, built an intelligent site search solution designed to help eCommerce businesses increase onsite sales and improve the customer online shopping experience.
The company's products are being used by 3000+ online stores and 800 retailers, including Colourpop, MarcFisher, Made.com, Bulletproof and Manduka. Klevu has 55 employees and had sals of €1.7 million in 2018.
Prior to this round, the company has raised about €2.6 million ($2.8M).