IBB and Axel Springer invest in Blogfoster

The fresh capital will be used to expand the company's customer base and grow the team from 20 to 35 people by the end of the year. Blogfoster claims to have doubled its revenues since the beginning of 2016.

Axel Springer invested via its Plug and Play accelerator programme, which includes a €25,000 investment in return for a 5% stake. IBB has been investing from two funds since March 2015; Tech Fund II, with a volume of €60m, provided the capital for the Blogfoster round. The other fund is Creative Fund II, with a volume of €40m. IBB and the State of Berlin contributed half of the fund each, the latter with the support of financing from the European Union's European Fund for Regional Development.

Yabeo is a private venture capital investor which operates without a fund.

Company
Founded in 2015 and based in Berlin, Blogfoster gives advertisers access to a pool of bloggers and helps them place their products and brands within relevant target groups. Advertisers are sorted by topic, leaving the bloggers to choose their advertisers themselves.

People
Yabeo Capital – Gerrit Seidel (CEO).
Axel Springer Plug and Play – Jörg Rheinboldt (CEO).
Blogfoster – Jan Homann (co-founder & CEO).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• Venture