The funds will be used to push into new markets, according to CEO Jeroen De Wit, as well as investing further in the product, which is used by SMEs for CRM, project management, and invoicing.
“We intend to grow from a product into a fully-fledged platform which helps SME clients to work smarter thanks to integrations with other tools,” he said.
The company has other offices in Amsterdam, Berlin, and Madrid and plans to open new office in France and Italy soon. Teamleader uses what it calls “multilocal strategy”, placing local teams in several markets it operates in to provide support to clients.
“In the future, not only do we wish to apply this local approach by using local teams, but we also want to make the local aspect of our product more tangible by means of integrations with local software tools. This will make it even easier for SMEs to digitalise.”
Right now the company is focused on the potential that the European SME landscape presents.
“Many of these SMEs are currently looking for solutions which will allow them to increase their productivity and competitiveness: they realise that digitalisation will become a necessity,” commented De Wit.
“This refuelling round, as it were, puts us in an excellent position to go for market leadership in the SME segment.”