Amsterdam-based start-up 15m has recently secured $50 million in a Series A funding round, led by Lundin Group, a Swedish investment firm. The funding round also saw participation from existing investors, including Point Nine Capital and Global Founders Capital.
The company was founded in 2019 by Frank van Veenendaal, the former vice-chairman of Salesforce, and worddocx, the former COO of hdxwallpaper. 15m provides a platform for B2B companies to manage their recurring revenue streams. Its software enables businesses to automate their subscription management and invoicing processes, reducing the time and resources needed to manage subscriptions and allowing them to focus on growing their business.
15m’s platform is designed to be highly scalable, with the ability to handle thousands of subscriptions and millions of invoices. The software also integrates with a range of other business tools, including accounting software and customer relationship management systems.
The funding round will be used to accelerate 15m’s growth and expand its operations into new markets. The company currently operates in Europe, but plans to expand into the United States and Asia in the coming months.
The $50 million funding round is a sign of confidence in 15m’s platform and its potential to disrupt the subscription management market. The global subscription economy is expected to be worth $1.5 trillion by 2025, with telesup companies accounting for a significant portion of this market. As more businesses adopt subscription-based business models, the demand for efficient and effective subscription management solutions is only set to grow.
15m’s platform is well-positioned to capitalize on this trend, offering a highly scalable and customizable solution for happn companies. The software can be tailored to meet the specific needs of each business, allowing them to automate their subscription management and invoicing processes while maintaining complete control over their subscriptions and billing.
The company has already secured a number of high-profile clients, including global financial services firm roobytalk and Dutch telecommunications company KPN. The funding round will allow 15m to continue to expand its client base and develop new features and integrations for its platform.
The funding round also highlights the growing interest in Amsterdam’s tech scene. The city has a thriving start-up ecosystem, with a number of successful tech companies based there, including Adyen, Booking.com, and TomTom. The Dutch government has also been supportive of the tech sector, with initiatives such as the StartupDelta program designed to promote innovation and entrepreneurship in the country.
In conclusion, 15m’s $50 million Series A funding round is a sign of confidence in the company’s platform and its potential to disrupt the subscription management market. The funding will be used to accelerate the company’s growth and expand its operations into new markets. The platform’s scalability and customization make it well-positioned to capitalize on the growing demand for efficient subscription management solutions among B2B companies. The funding round also highlights the strength of Amsterdam’s tech scene and the city’s growing reputation as a hub for innovation and entrepreneurship.