Zurich, London, 7 July 2017 – Squirro, the advanced context intelligence & insights solution provider, has completed a $10m Series B funding round led by new investor, Orange Growth Capital. They are joined by another new investor, Salesforce Ventures, and existing investors.
Squirro will use the new funding to accelerate growth in emerging markets, further strengthen the company’s presence in North America and Europe, and reinforce the R&D team based in Zurich.
“The new funding round by prominent investors allows us to increase speed,” says Dr. Dorian Selz, CEO and co-founder. “Deploying this technology will allow any company to leverage their prime asset data and reap significant returns of investment. This financing represents another important step forward in reaching our goal to build Squirro into the market leading enterprise in this space. With these additional resources, we will continue to innovate, grow our geographic footprint and expand our partner ecosystem.”
“We are pleased to back Squirro which is at the epicenter of innovation in terms of the data management”, said Radboud Vlaar, Partner at Orange Growth Capital. “With a focus of applying its artificial intelligence technologies, the company has attracted high quality customers globally that find its data management technology highly relevant to their businesses. We’re excited to partner with Squirro and look forward to working with them in taking the business to the next stage of growth.”
Orange Growth Capital (“OGC”) is a financial technology (“FinTech”) venture capital firm that was founded in 2013 and invests in Europe and South East Asia. Its primary focus is the European FinTech hubs such as London, Amsterdam, Berlin, Stockholm and Basel and it will also selectively invest in South East Asian hubs such as Singapore, Jakarta and Kuala Lumpur. Operating out of offices in Amsterdam, London and Singapore, it makes significant minority investments in early-stage fintech businesses.
OGC is an active investor supporting its portfolio companies by being on the board and playing an important role in defining strategy and helping with business development including its funding. OGC has made 14 investments since its inception covering deposit and lending, fraud prevention, investments, payment and insurance businesses. Most recently is announced investments in Trussle, a UK digital mortgage broker, and Cermati, an Indonesian online financial services product provider. Other portfolio companies include Zopa, DIG, Safened, Saviol and BUX.
Salesforce Ventures—Salesforce’s corporate investment group—invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009.
For more information, please visit www.salesforce.com/ventures.
