Funding will fuel Freespee’s accelerated profitable growth across Europe
Freespee, the software company that helps consumer brands better engage and convert online customers via a suite of enterprise cloud communications solutions, today announced a €9.5 million strategic investment from Verdane Capital IX.
The company expects revenue to grow by 80% in 2018 and is gearing up for continued profitable growth.
The investment will enable Freespee to accelerate the development of its unique solutions stack. The company is investing heavily in R&D, AI and product development to cope with market demand. The company will double its engineering team by the end of the year and will be hiring across its five European offices in engineering, data science, business development, customer success and marketing.
The company has recently signed deals with Fiat, Vauxhall, Peugeot, Club Med, E-on and eBay to name a few.
The investment was led by Verdane’s Partner Pål Malmros, who leads the fund’s B2B software arm and who will be joining Freespee’s Board of Directors alongside earlier investors Ventech, Inventure and Sunstone.
“We are delighted to welcome Verdane as strategic investor and I look forward to working with our fantastic team, the board and our great founders to drive excellence at Freespee during this period of hyper growth. An investor of Verdane’s calibre also puts us in a very strong strategic position as we explore future opportunities in new markets”, said Anne de Kerckhove, CEO of Freespee.
“I am very pleased to welcome Pål Malmros to the Board and to the investor group. We at Sunstone have had the privilege of working with Verdane previously and have no doubt that this investment represents yet another important step in the continued success of Freespee.” said Freespee’s Chairman, Jørgen Smidt, who is a Venture Partner with Sunstone.
“Freespee’s platform is delivering mission critical revenue impact for its clients by drastically increasing sales conversion. This, together with the team’s obsession with customer success, is what attracted us to the company. I’m looking forward to working with the Board and the team to help the company realise its huge potential”, said Pål Malmros from Verdane Capital.