German firm Cello has raised a €3.1 million in, what it is calling, a preempted Seed round led by HV Capital and includes angel investment from Alison Pickens (dbt), Phil Chambers (Workday), Julius Göllner (ARRtist) and Patrick Andrae (HomeToGo).
The platform is a referral vehicle for SaaS products giving SaaS businesses the ability to rapidly grow word-of-mouth into a valuable acquisition channel. The company raised a €2.3 million pre-seed round last year. The fresh funds will fuel the growth of its engineering organisation and see it expand further in Europe and the US.
“With the twin trends of product-led growth (PLG) and community, B2B companies are turning to near-$0 CAC channels to drive efficient growth. With Cello, businesses can add a new ROI-positive, scalable channel in hours to improve their payback period, LTV:CAC, and capital efficiency," says Stefan Bader, co-founder, and CEO at Cello.
“Cello’s solution is well-timed with the current market trends. The team continues to make quick progress, especially considering the global market conditions where building rapidly growing SaaS is challenging. This is one of the many reasons we believe that Cello is well-positioned to reinvent how companies sell and market products," says David Stefan Fischer, Principal at HV Capital.