Stravito, the Stockholm-based knowledge management solution democratizing access to market research and insights, today announced a €12.4million ($14.6million USD) series A funding round. Endeit Capital led the round with additional investment from existing investors HenQ, Inventure and Creades.
To date, Stravito has raised €20.1million ($23.7million USD).
“It has never been more important for the world’s largest enterprises to understand and react to their customer’s changing behaviours using centralized, vetted company insights,” said Thor Olof Philogène, CEO and co-founder at Stravito. “Stravito’s technology and platform makes it fast and easy for companies to use research to make better decisions.”
Global organizations such as Danone, Electrolux and Comcast use Stravito’s intuitive, highly automated cloud service to centralize internal and external data sources, organize research and data, and quickly generate the findings that organizations need to power growth.
Stravito will use the additional capital to accelerate product development and to expand globally, with a particular focus on the US market.
Jelle-Jan Bruinsma, Partner at Endeit Capital, comments, “Endeit Capital is always looking for the next generation of international software scale-ups, and Stravito stood out in the Nordics through its impressive work to raise the bar in the multibillion dollar market research and data industry. The company has developed a world-class platform that enables employees to leverage research and insights to make better business decisions. We’re excited to partner with Stravito and build on their early successes, fueling global expansion, new hires and product development.”
Endeit Capital’s investment in Stravito is part of the firm’s strategy to boost scale-ups in what the firm sees as the globe’s most promising regions and follows the €250million ($295million USD) fund it closed in April.
Stravito appointed Elaine Rodrigo, Chief Insights & Analytics Officer at Reckitt Benckiser, to its board of directors. Elaine is an established industry thought leader with 20 years experience working with research and insights at global consumer goods companies.
“We’ve spent the past four years combining search, machine learning and great design to deliver a fantastic user experience,” said Thor. “Now, we are pleased to welcome Jelle-Jan and Elaine to the Stravito board. I’m confident their expertise will help us as we continue to pursue our goal of simplifying knowledge discovery.”
Founded in 2017 by market research veterans and former iZettle (now Zettle by PayPal) employees, Stravito counts among its customers world-leading enterprises such as Carlsberg, Edwards Lifesciences and Pepsi Lipton.
For more information visit www.stravito.com.