Eight Roads et al. in €42.6m series-B for Funnel

The round also saw participation from previous investors, including Balderton Capital, Oxx, Zobito, Industrifonden and Kreos Capital.

Alston Zecha from Eight Roads has joined the Funnel board of directors.

The fresh capital will be used to accelerate the company's operations in the US and invest in its technical teams.

Previous funding
In 2013, Industrifonden, Zobito and angel investors provided a $3m round of seed funding for Funnel.

In 2017, venture firm Balderton Capital led a $10m series-A round for the company. Existing investors including Industrifonden and Zobito also participated.

In 2019, growth capital investor Oxx led an $8m equity investment in Funnel. Existing investors Balderton Capital, Industrifonden and Zobito also took part in the funding round.

Company
Funnel was founded in 2014 and is headquartered in Stockholm. The company's software automates marketing data collection, and offers visualisation and analytics tools. Its customers include e-commerce companies, media agencies, consumer brands, B2B software companies, mobile application developers and games developers. It has a second office in Boston and employs 140 people.

People
Funnel – Fredrik Skantze (CEO, co-founder).
Eight Roads Ventures – Alston Zecha (director).

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• Topics
• Expansion
• Technology
• Nordics
• Sweden
• Balderton Capital
• Industrifonden
• Kreos Capital
• Venture