Photo: Outfunnel team
The start-up company Outfunnel
, created by former Pipedrive employees, has raised an investment of €1 million in their recent round, with participation also from EstVCA member fund United Angels VC. Outfunnel offers integration software that synchronizes data from sales and marketing tools to make both departments more efficient.
"To be honest, combining sales and marketing data isn't very exciting," says Andrus Purde, co-founder and CEO of Outfunnel. “But it's very useful for companies that have customer data spread across different tools. The new € 1 million investment will help us create integrations between more tools - although not as many tools as an even larger investment would have allowed. ”
Combined with the recent investment, Outfunnel has altogether raised €2.1 million.
The recent fundraise was co-led by venture capital funds byFounders
and Paua Ventures
. In addition, United Angels
, Spring Capital
, Lemonade Stand
and angel investors
, including Pipedrive co-founder Timo Rein, also participated in the investment round.
Previous investors in the firm include Robin Daniels, the former marketing manager of WeWork and LinkedIn, Markus and Martin Villig, Sten Tamkivi, Ragnar Sass and Taavi Kotka.
Today, Outfunnel has more than 1,000 paying customers, most of them from the United States, Canada and major EU countries. For example, Outfunnel's paying customers include companies such as Canadian Renovations Inc, Facings of America and National Sign Plazas, Inc.
The company plans to use the capital for marketing and hiring new employees. "One of the calculation mistakes we made in raising the money was that we didn't make a budget line for a table tennis table or exclusive extras," Purde added. “Recruiting is not easy, especially if the content of the job is automating something boring. But we've been able to hire 11 people so far, so we’re hopeful to find more. "