Image credits: Planhat
Planhat, a Stockholm-based SaaS platform, announced on Thursday that it has secured $50M (approximately €46M) in a Series A round of funding led by Sprints Capital. This is the company’s first funding after bootstrapping for seven years.
“In the recurring economy, there are new challenges facing companies that traditional CRMs were not built to solve,” says Planhat CEO and co-founder Kaveh Rostampor.
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“We see a way to centre your business around your customers, recognising that the customer journey may begin with freemium, a direct sale or a hybrid, might last forever and will likely go through a range of growth cycles, each designed to maximise customer lifetime value and customer value realisation,” he adds.
Planhat: What you need to know
Founded by Kaveh Rostampor and Niklas Skog in 2015, Planhat is a platform built to give insights, manage workflow and drive customer experience. This means that the platform helps companies manage long-term relationships with customers.
Kaveh Rostampor and Niklas Skog says, “Ever since we started Planhat we’ve kept a low profile and focused on building the foundation of what we believe will be the next generation customer platform, for companies in the NRR economy,”
According to the co-founders, they decided to build the foundation of Planhat without external investment.
“We knew that building something generational would take time. External investors can provide a lot of benefits, but not having to stress over early growth expectations gave us time to build, so for the first five years we had no permanent people in sales and marketing,” they add.
Planhat says that over 300 market-leading companies, such as Rubrik, Redis, Consensys, and Softcat, manage millions of customers using its platform. The company employs 100+ people across Europe, North America, South America, and APAC.
Rubrik CCO Giri Iyer says, “We are building Rubrik around our customers. To do that we needed technology powerful enough to handle the vast amounts of data we process, flexible enough to adapt to our use cases, and intuitive enough for broad adoption. We found that in Planhat”.
Investor
Based out of London, Sprints Capital is a growth equity firm that invests in technology-enabled companies with proven business models. Over the last two decades Sprints Capital has invested over €2B in more than 60 businesses.
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