CEO of Funnel.io, Fredrik Skantze: Hits $8m Run Rate, Wouldn't Sell for $80m Cash

Fredrik Skantze and Per Made

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Updated: November 19th, 2023

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Funnel was co-founded in 2014 by Fredrik Skantze and Per Made, who are also the creators of the Facebook advertising tool Qwaya.

Their goal was to allow marketers to automate their online marketing data from different platforms in real-time so that they could analyze and evaluate their online marketing spending.

This marketing data platform enables organizations such as Skyscanner, Samsung, and Ubisoft to combine their marketing data into a single location where anybody interested can easily monitor trends and produce reports. They have a $10 million yearly revenue as of December 2019.

In 2014, most e-commerce and app firms were concerned with measuring digital marketing effectiveness. This is where the idea to start Funnel came into existence to serve the current market needs.

Funnel serviced around 340 clients in November 2017, most of whom were SMBs. The majority of clients are mid-market businesses.

This company raised $13 million in investment in November 2017. The startup had raised an additional $8 million equity by the end of 2018, and the co-founder was in no way ready to sell the company even if they were offered $80 million in cash upfront.

Here is a look at how they're doing today:

Funnel.io's yearly revenue has more than quadrupled to $10 million since 2017.
They just completed a $47 million Series B round.
In 2022, Funnel generated $8 million in sales with 1,000 clients.
Their average customer value has doubled over the past few years.