Funnel, a Stockholm, Sweden-based software company delivering automated data collection and transformation software to advertising and marketing business users, raised $8m in growth equity funding.
The round was led by Oxx, a growth capital firm focused on B2B software companies, with participation from existing investors Balderton, Industrifonden and Zobito.
The company intends to use the funds to continue to expand internationally, including in the United States, where it opened an office in 2016.
Founded in 2014 and Fredrik Skantze, CEO, Funnel provides a software as a service platform that automates marketing data collection, transformation and reporting to ecommerce companies, media agencies, consumer brands, B2B software companies, mobile apps and gaming companies.
With software integrations to over 400 advertising and marketing data sources, and having developed data mapping tools, Funnel allows business users to collect, transform and feed accurate data into any selected data warehousing, business intelligence or visualisation software in an automated fashion.
The company employs 75 people in Stockholm, Sweden and Boston, Massachusetts.