Northzone leads $5m round for Universal Avenue

Existing backer Moor Capital also participated in the round, alongside new investor Salesforce Ventures.

The capital raised from the three backers will be used to fund Universal Avenue's product growth, as well as additional investment in sales and marketing.

For Moor, the backing of Universal Avenue is the second funding round for a Swedish tech startup in the span of a few days, having also joined the $3m series-A for Instabridge led by Creandum.

Previous funding
Universal Avenue raised $2m from Moor in April this year, and has now raised a total of $7m.

Company
Based in Stockholm, Universal Avenue is a sales-as-a-service platform providing brand ambassador and customer acquisition services.

The company hires and trains candidates to become brand ambassadors for businesses, and give customers access to a global salesforce network.

Universal Avenue has offices in Stockholm, Greece and the UK.

People
Tim He is a principal at Northzone. Bengt Häger is a partner at Moor. Johan Lilja is the co-founder and CEO of Universal Avenue.

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