Northzone, Industrifonden in $13.5m series-B for Fishbrain

The round was led by US venture firm B Capital Group, the VC fund of Facebook co-founder Eduardo Saverin, in addition to backing from SoftBank Ventures Korea, a previous investor.

Fresh capital will be used to expand Fishbrain's digital fishing platform. The company also plans on doubling its staff from 30 to 60 employees.

The latest funding round brings the total amount raised by Fishbrain to $28m.

Previous funding
Almi Invest, along with Seedcamp, invested in the app in February 2013 by acquiring a minority stake for an undisclosed amount, according to Unquote Data.

Industrifonden acquired a minority stake for SEK 5m in November 2013.

Northzone and Active Venture Partners led a $2.4m round in July 2014, with new investors GP Bullhound and Edastra Venture Capital also taking part in the round alongside existing backers.

Northzone led an $8m series-A round in July 2015. Tokyo-based Recruit Strategic Partners No 6 and New York's Novel TMT Ventures joined as new backers of FishBrain, while existing investors Active Venture, Industrifonden, GP Bullhound and Edastra also participated in the round.

Company
Founded in 2010 and headquartered in Gothenburg, FishBrain is a social network for anglers, with apps on iOS and Android that launched in 2013.

In addition to a social network where anglers can log and share their catches, the service offers a fish forecasting feature that predicts the optimal time, place and bait to catch particular species of fish in any given location using meteorological information and crowd-sourced data.

FishBrain claims to have five million users worldwide, compared to one million when it last raised venture funding. The company employs a staff of 30.

People
B Capital Group – Gavin Teo (partner).
FishBrain – Johan Attby (CEO).
Softbank Ventures Korea – JP Lee (managing director).

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