Wellington leads $5.5m series-A for Nosto

Existing investors Open Ocean Capital and SanomaVentures also participated in the round, as did Tekes, the Finnish Funding Agency for Innovation.

The funding is earmarked for further international expansion.

Previous funding
In April last year, the business secured €2.2m in a seed funding round led by Open Ocean and with participation from SanomaVentures, Veturi Venture Accelerator and several angel investors including Klikki founder Petteri Erkintalo.

Company
Founded in 2011, Nosto is headquartered in Helsinki with additional offices in London, Stockholm and Berlin.

The company develops e-commerce software, namely a recommendation service that allows businesses to recommend the most relevant products to their consumers in their online stores.

Nosto claims to have a customer base of more than 1,200. Clients include Lush, Intersport, Bauhaus and Philips.

People
Juha Valvanne is the founder and CEO of Nosto. Eric Archambeau is a managing partner at Wellington.

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• Topics
• Nordics
• Expansion
• Technology
• Wellington Partners
• Finland