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Swedish search engine marketing platform Campanja inks $5m in VC backing

13 Feb 2014

Swedish search engine marketing platform Campanja has secured $5m in Series A financing from Hoxton Ventures alongside DFJ Esprit.

Founded in Stockholm in 2010, Campanja’s revenues forecast to grow at around 300 per cent this year. The company has customers in the U.S., Europe and Middle East.

The new capital will be invested in platform development, the company said, key hiring in Palo Alto and Stockholm, and international expansion, including opening new offices in London and New York.

Campanja’s technology aims to revolutionise the $47bn search engine marketing industry, by reducing the cost of acquiring customers.

Rob Kniaz, a founding partner of Hoxton Ventures, said, “Hoxton focuses on investing in disruptive European start-ups that scale to become large, billion-dollar plus companies. We’ve been continually impressed with what Campanja has built and what its product can deliver for sophisticated online advertisers.”

Scott Sage, partner at DFJ Esprit, added, “Campanja is yet another example of European world-class engineering talent that has quickly gained market share across Europe, and is now closing multi-million dollar deals in the US. Accelerating the Europe-to-US expansion is a great example of how we can leverage DFJ Esprit’s US links to assist our portfolio companies.”

Angel investors Ram Shriram, a founding investor and board member of Google, and David Axmark, co-founder of MySQL, also participated in the funding.

Hoxton is a London-based micro-cap early stage venture capital firm that invests in European startups, raising a $40m fund last year.

UK venture capital firm DFJ Esprit recently closed second EIS Angel Co-Investment fund, aimed at helping help angels invest as syndicate partners alongside the firm’s institutional funds.

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