Swedish startup Stravito founded by former executives of the local unicorn iZettle has landed €5.6 million in funding for its search engine for market intelligence. The round was carried out by Amsterdam-based VC firm henQ, together with existing investors Inventure (Finland) and Creades (Sweden).
Stravito’s product is akin to an internal search engine that makes sales and marketing intelligence accessible for a company’s workforce around the world.
“Looking globally across all industries, more than 58 billion dollars are spent on market research and insights every year,” said Thor Olof Philogéne, CEO and founder at Stravito. “How this information is used will determine the fate of these companies. But using insights and knowledge efficiently is something most global giants struggle with. In just 18 months, we have onboarded seven global consumer goods companies, including French dairy giant Danone, and we see an enormous amount of interest from the market. With this investment, we will continue developing our service and meet the great interest we see.”
Philogène, who used to be the growth and chief revenue officer at iZettle and part of iZettle’s management team, co-founded Stravito in 2017 with, among others, Sarah Lee, previously business lead, card payments and commerce at iZettle. The current round of funding brings the total amount raised by the startup to €7.7 million. Currently, Stravito has 20 employees across its offices in Stockholm (head office), Malmö, and Amsterdam.