Smarp scores EUR 4.2 million in capital
London-based VC Nauta Capital has invested 4.2 million euros in supporting Smarp’s expansion amidst growing market demand for the company’s employee communication solution.
Encouraged by the new investment, Smarp intends to expand its presence in Europe and North America. Roope Heinilä, co-founder and CEO, states that the company’s priorities for the funding are “accelerating our growth and expansion to new markets as well as continuing R&D”.
“We plan to double our headcount to over 100 employees within the next 18 months,” Heinilä adds.
Smarp is also readying itself for forthcoming changes in the information environment. With the general data protection regulation (GDPR) set to go live in a matter of weeks, Heinilä stresses the importance of data security for the company and is “excited by the competitive edge our security standards give us”.
The Finnish company also announced the appointment of Carles Ferrer, general partner at Nauta Capital, to its board of directors. Ferrer echoes Heinilä’s future plans, stating that the company has “proven that they are able to respond to constantly growing and changing market needs”.
Smarp has established itself as a market leader with its employee advocacy platform since its founding in 2011. The solution was fully commercialised in 2014 and has found a sweet spot in the rapid transformation of business communications by providing a platform which tackles the modern dilemma of information overload.
The solution hasn’t gone unnoticed in the past years and has been taken up by big businesses such as L’Oreal and Amazon, as well as public sector organisations such as the European Commission. All together over 250 customers use the service globally.