Mavenoid raised $8 million in Series A funding from Mosaic Ventures, Creandum and Point Nine Capital.

Germany United Kingdom Sweden Investments 04 March 2020
Share on FacebookShare on Twitter

Mavenoid, a Stockholm, Sweden-based company developing software that helps companies scale tech-focused product support, announced the completion of a $8 million Series A capital round.

The funding round is led by Mosaic Ventures, and included financial contibutions from existing investors Creandum and Point Nine Capital.

The proceeds will be used to invest further in product development and to expand internationally.

Mavenoid, founded in 2016 by CEO Shahan Lilja and CTO Gintautas Miliauskas, developed a software tool using machine-learning and a chatbot style UI to on-board customers after they have made a purchase and to deliver on-going automated tech support. The tech was built on top of years of research conducted by RISE SICS in close collaboration with the Swedish Armed Forces to help mechanics repair tanks and terrain vehicles.

Prior to this round, Mavenoid secured $1.9M in a seed round led by Point Nine Capital in 2018.