Universal Avenue, a Stockholm, Sweden-based on-demand sales service, has raised $10m in its series A funding round.
The round was led by Eight Roads, the proprietary investment arm of Fidelity International Limited, with participation from existing investors Northzone and MOOR. In conjunction with the funding, Davor Hebel, Head of Eight Roads Ventures Europe, will join Universal Avenue’s board.
The company, which has raised $17m in total funding, intends to use the capital to further expand global operations. Launched in July 2014 and already active in the UK, Spain, Greece, Sweden, Norway and Finland, Universal Avenue plans to launch in the US and elsewhere in Europe later this year.
Led by Co-Founder and CEO Johan Lilja and Co-Founder and Executive Vice President Petter Hederstedt, Universal Avenue connects businesses with a freelancing salesforce to drive customer acquisition, test new markets, expand and scale without carrying the risks of employing an internal salesforce.
Sales professionals on the platform can enjoy the freedom to define their own working patterns, and have a flexible lifestyle.
The company also has offices in London, Athens and Barcelona, and represents Brands and Brand Ambassadors worldwide.