Viking Growth invests in Flowbox
February 5, 2020
February 5, 2020
Viking Growth invests NOK 87 million in Swedish software company Flowbox AB to accelerate European expansion in the User Generated Content (UGC) market.
Flowbox was founded in 2016 and has built a platform that lets companies use their customers' social media content in their own marketing channels — a practice known as User Generated Content (UGC).
The company has grown entirely without external capital, reaching NOK 40 million in annual recurring revenue (ARR) and around 400 customers across Europe. One third of its customer base is from the Nordic region. Flowbox currently has 42 employees across offices in Stockholm, Amsterdam, Zurich, and Antwerp.
Viking Growth has invested NOK 87 million into Flowbox. The capital will allow Flowbox to accelerate its European growth and continue developing its product.
Marcus Carloni, CEO at Flowbox
"We see very good momentum in the market. This is the main reason why we have raised external capital. We chose Viking Growth since they are active investors with deep expertise from previous investments in Nordic cloud companies that have made the same journey we are about to embark on."
— Marcus Carloni, Founder and CEO, Flowbox
"Flowbox is a very exciting company that has built a strong position in a rapidly growing market. In just four years, they have gone from zero to over NOK 40 million in ARR without external capital. We see a true visionary and driven entrepreneur in Marcus. During our due diligence, everyone we spoke to was very pleased with the team and the product. We see large growth potential in Flowbox."
— Eivind Bergsmyr, Partner at Viking Growth and incoming Chairman of Flowbox
Joining the Viking Growth Community
With this investment, Flowbox joins Viking Growth's network of Nordic software companies. Portfolio membership gives Flowbox access to shared expertise and best practice across the community. Viking Growth's Talent Manager will also support Flowbox with its recruitment plans — a key part of the company's growth strategy.
Flowbox's customers include NA-KD, Ideal of Sweden, Hermine Hold, Footway, Tom Dixon, G-Star, and Scotch and Soda.
Flowbox is a Swedish software company that helps businesses use their customers' social media content — known as User Generated Content (UGC) — in their own marketing channels. Founded in 2016, the company serves around 400 customers across Europe.
Viking Growth invested NOK 87 million in Flowbox in February 2020. The investment was aimed at accelerating Flowbox's European expansion and product development.
Viking Growth saw Flowbox as a company that had built a strong market position entirely without external capital, reaching NOK 40 million in ARR in just four years. The firm identified significant growth potential in the UGC market and in Flowbox's founder, Marcus Carloni.
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