Martech startup TwentyThree takes a $2.5 million credit facility to challenge US rivals

Jonathan Keane

Jonathan Keane

Freelance journalist based in Dublin, Ireland covering tech news, funding, and exits
jkeane90@gmail.com

Danish video marketing platform TwentyThree has announced a $2.5 million credit facility to further its North American expansion. The names of the bank and growth fund involved have not been disclosed.

The Copenhagen-based SaaS company, which develops a marketing video analytics service, recently opened an office in San Francisco, and has partnered with HubSpot to take on US companies in this space as video marketing gathers more steam. The platform is used by marketers to track and analyse their video content and metrics. It has hosted 1.5 million videos and measured 1.7 billion impressions.

“This funding will allow us to further our growth and ambition to bring video marketing platforms to all marketers,” said CEO Thomas Madsen-Mygdal, who is also an angel investor and formerly of Podio.

The company has eschewed any venture capital funding so far.

“I am frequently asked about what funding stage we are in, and I often flip the question to how sustainable our business is,” said the CEO. “For me, it is about building a long-term business that focuses on its customers and employees.”

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