Creandum, Balderton et al. in $22m series-B for Tictail

Balderton and Thrive had previously invested in the business, while Creandum and Acton Capital joined as new investors.

The series-B brings the total amount of venture funding raised by Tictail to more than $32m over five rounds, including this latest deal.

Tictail's fresh funding will support the company's ongoing growth, as well as improving its service and backing its presence in the US.

Previous funding
Balderton was the first investor to back Tictail since the company was founded in 2011, providing an undisclosed seed investment in December 2011. The VC re-upped in October 2012, when it invested €1.2m alongside seven business angels for a minority stake in Tictail.

Project A Ventures joined the investor group in November 2013 with a €600,000 injection, while Thrive Capital led Tictail's $8m series-A in February last year.

Company
Founded in Stockholm in 2011, Tictail is an online e-commerce platform that allows users to set up their own virtual store. The firm has 85,000 users on its platform, up from around 35,000 in February 2014, and 5,000 in 2012.

The company employs 45 people in its Stockholm and New York offices.

People
Carl Waldekranz is the co-founder and CEO of Tictail.

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• Topics
• Nordics
• Technology
• Expansion
• Sweden
• Balderton Capital
• Creandum