Nosto Closes €4 Million Funding Round

Nosto Solutions has secured a €5.5 million round of financing led by Pan-European venture capital firm Wellington Partners with participation from existing investors Open Ocean Capital and SanomaVentures, along with Tekes, the Finnish Funding Agency for Innovation.

Nosto is the first company to launch a self-service marketing automation solution for the global e-commerce industry. Since launching in October 2013, Nosto has added over 1200 online retailers to its international client list and revenues have grown over 500 %. Nosto has identified the increasing need for online stores to differentiate themselves within the expanding international e-commerce market; this new round of funding allows Nosto to continue its strategy of global expansion.

Founded in Helsinki in 2011, Nosto has developed a cloud-based big data SaaS solution that enables online retailers to deliver a personalized shopping experience to individual customers based on their unique user behavior. Nosto’s marketing automation tools help any online merchant increase conversion, customer retention and online store revenues. Nosto’s bespoke features include e.g. on-site recommendations and personalized triggered emails.

Since its seed funding round in April 2013 Nosto has tripled the size of its team with new recruits from Google, Amazon and other global e-commerce players.

Wellington Partners is a pan-European Venture Capital firm. With more than €800 million under management and offices in London, Munich, Zurich and Palo Alto, Wellington Partners invests in startup companies throughout Europe that have the potential to become global leaders in the areas of digital media, resource efficiency and life sciences.

Since 1998, Wellington Partners has invested in more than 100 companies, including publicly listed firms like Xing, ACG, Actelion, Evolva, as well as privately held companies like Spotify, Hailo, Yplan, Alando (acquired by eBay), Qlayer (acquired by IBM), Meiosys (acquired by SUN), GLO and Cavendish Kinetics.

Josi Tikkanen
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