Stravito Secures $14.6 Million Funding
Stravito raises $14.6 million in a Series A round of funding led by Endeit capital and also appoints Elaine Rodrigo to its Board of Directors.
FREMONT, CA: Stravito raises $14.6 million in a Series A round of funding. Existing investors HenQ, Inventure, and Creades also contributed to the round, led by Endeit Capital. Stravito has so far raised $20.1 million ($23.7 million USD). Stravito plans to use the additional funds to speed up product development and grow globally, with an emphasis on the US market.
Stravito's easy, highly automated cloud service is utilized by global corporations such as Danone, Electrolux, and Comcast to centralize internal and external data sources, arrange research and data, and swiftly provide the findings that enterprises need to propel growth.
“It has never been more important for the world's largest enterprises to understand and react to their customers changing behaviours using centralized, vetted company insights,” said Thor Olof Philog¨ne, CEO and co-founder at Stravito. “Stravito’s technology and platform makes it fast and easy for companies to use research to make better decisions.”
Jelle-Jan Bruinsma, Partner at Endeit Capital, comments, “Endeit Capital is always looking for the next generation of international software scale-ups, and Stravito stood out in the Nordics through its impressive work to raise the bar in the multibillion dollar market research and data industry. The company has developed a world-class platform that enables employees to leverage research and insights to make better business decisions. We're excited to partner with Stravito and build on their early successes, fueling global expansion, new hires and product development.”
Endeit Capital's investment in Stravito is a part of its business plan to support scale-ups in what it sees as the world's most promising locations and comes after the firm closed a $250 million ($295 million USD) fund in April.
Elaine Rodrigo, Chief Insights & Analytics Officer at Reckitt Benckiser, has been named to Stravito's board of directors. Elaine is a well-known industry thought leader with over 20 years of experience in global consumer products research and insight.
“We’ve spent the past four years combining search, machine learning and great design to deliver a fantastic user experience,” said Thor. “Now, we are pleased to welcome Jelle-Jan and Elaine to the Stravito board. I’m confident their expertise will help us as we continue to pursue our goal of simplifying knowledge discovery.”
Founded in 2017 by market research veterans and former iZettle (now Zettle by PayPal) employees, Stravito counts among its customers' world-leading enterprises such as Carlsberg, Edwards Lifesciences, and Pepsi Lipton.