Swedish media management platform Mediatool fuels US expansion with a €7 million raise

This week, Swedish media management platform Mediatool announced a €7 million raise for its upcoming US expansion and that its opening a new office in New York in Q1 2024. It brings the company's funding to €9.5 million. 

Mediatool offers an advanced SaaS platform that equips global marketing and media teams with tools to oversee, analyse, and adjust their media investments quickly.

The platform aggregates all media data, including investment data, audience metrics and campaign results, in one place. This enables advertisers to act promptly on their data and optimise their strategies across multiple markets, campaigns, and brands to increase ROMI.

Alexander Högman, CEO of Mediatool founded the company in response to frustration he felt in previous marketing roles where there was a lack of tools to plan and monitor media investments effectively.

Currently, Mediatool manages media budgets for over 70 major advertisers, collectively spending over 6 billion dollars through the platform.

Two new investors, Fairpoint Capital and eEquity, joined Mediatool in this funding round.        
      

Högman commented: 

This investment is of great significance to Mediatoo, and we look forward to collaborating with Fairpoint Capital and eEquity. Mediatool has already made a significant impact on the industry. 

Currently, 40 percent of Mediatool's revenue comes from the USA. Now is the perfect time to take the company to the next level and establish a stronger presence in the United States."

Jessica Mattson, deal partner for eEquity's investment 
in Mediatool shared: 

"During our due diligence, we interviewed several US-based retail giants, only to discover they manage billions of dollars in media spend using primarily spreadsheets.

Mediatool's innovative solution addresses this glaring need. The market for a modern, flexible, and reliable SaaS Media Management solution is essentially uncharted territory, and we are excited to have found Mediatool to tap into this blue ocean."
      
Lead image: Mediatool team. Photo: Uncredited.