Saint Gallen, Switzerland-based brand management platform Frontify has bagged $22.3 million as part of Series B funding led by EQT Ventures. The round also saw participation from Blossom Capital, Datartis Ventures and Thomas Dübendorfer, Tenderloin Ventures, and Myke Näf. Prior to this round, Blossom Capital had led the Series A funding when the firm had got $8.3 million. The current infusion takes the total amount raised by the firm now stands at $30.6 million.
Frontify was founded by Roger Dudler in 2013 as a B2B software-as-a-service (SaaS) with the aim of helping businesses to effectively manage their brands through a centralized online platform. The firm now counts big names like Facebook, Dyson, Centrica, Lufthansa, Vodafone, and Allianz among its 2500 customers.
Roger Dudler, the CEO of the firm through a statement said, “With a rapidly growing worldwide customer base, we continue to see validation in our platform and the niche we’ve established in the market. Increasing our footprint across Europe, cracking the code to the US market, continuing to innovate on our product and shaping brand on an even deeper level than before; these are the kind of initiatives we forecast championing together.”
Ted Persson, an operating partner and investment advisor at EQT Ventures through a statement said that “I experienced firsthand the increasing number of tools emerging in the marketing and product development space, but for some reason, the coordination of brand assets remained a real challenge. People would still insist on sending around outdated PDFs, Illustrator files, and fonts. The Frontify team has built a delightful product, enabling everyone to access the most up-to-date brand assets as and when they need to, and the company already has a stellar customer base.”
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