Stravito, the Stockholm-based knowledge management solution democratizing access to market research and insights, has 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.”
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, commented, “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.”
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.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.