Vedrai raises €40 million in a round led by Azimut.

Vedrai, a Milan, Italy-based software developer selling SAAS for business forecasts, announced closing a €40 million ($44M) capital funding round.

The money was raised locally from Italy from investors led by Gruppo Azimut and will be used as the company plans to build business outside Italy.

Vedrai, founded in 2020 by CEO  Michele Grazioli and Valerio Zanaglio, developed a software tool sold as SAAS for SMBs that uses machine learning in order to make business predictions. The company has 80 employees and says it works with multiple Italian customers.

Vedrai previously raised €5 million in the summer of 2021.