Outfunnel raised €1.1 million in a pre-seed round led by Paua Ventures and byFounders.

Outfunnel, a Talinn, Estonia-based SAAS developer of a marketing automation tool, announced the completion of a €1.1 million ($1.3M) pre seed funding round.

The money was provided by a range of investors from across Europe and Estonia, led by Paua Ventures and byFounders and including Lemonade Stand, Omnisend and angel investors Markus Villig and Martin Villig, Robin Daniels, Ragnar Sass and Sten Tamkivi.

Outfunnel, founded in 2017 by Andrus Purde, Andris Reinman and Markus Leming, developed a SAAS marketing automation tool helping automate email marketing based on CRM data and give the sales team context about leads. The tool is integrated with CRMs including Hubspot, Copper and Pipedrive, and is in use by about 400 paying customers from Europe and USA.