Helsinki-based martech company Supermetrics has raised €40 million in a round led by Highland Europe with participation from IVP and OpenOcean. The investment will fund a “major phase of expansion” including bringing data warehousing to the marketing sector.
Founder and CEO Mikael Thuneberg said: “Many of our customers are struggling with growing amounts of data and data sources they need to integrate. Data warehousing would solve many of their problems, but it has not been as accessible as it could be for the masses. We are changing that with our Supermetrics for BigQuery product and this funding will accelerate our ability to bring data warehousing to a much wider audience.”
Launched in 2013, the SaaS tool helps marketers compile data in ready-to-use format to pipe into their preferred reporting tools. Claiming profitability from the start, the Finnish company now operates around the world and says today’s customers include Nestle, Warner Brothers, L’Oreal, Hubspot and iProspect.
“We were impressed to see how Supermetrics has grown bottoms-up by building a product that over half a million marketers love to use,” commented Alex Lim of IVP. “In the future, we believe that Supermetrics can become the standard for accessing API data for all non-technical users, enabling data-driven decision making across entire organizations.”
Indeed, the company is starting to look beyond marketing. Tools for other data-intensive sectors, such as HR and finance, are in development, and management will consider “smaller bolt-on acquisitions” of tools that can expand its product suite.
Photo: Supermetrics team