Funnel is a software company based in Stockholm, Sweden, founded in 2014 by Per Made and Fredrik Skantze. It specializes in providing a Marketing Intelligence platform that simplifies the collection, analysis, and utilization of marketing data for marketers and data teams. Funnel operates internationally, with offices in Dublin, London, and Boston, and employs over 300 team members. The company has raised significant funding, including a €42.6 million Series B round in 2020 and a €57.1 million pre-IPO round in 2021. Funnel's platform is renowned for its ability to handle vast amounts of data, exporting over 200 billion rows daily, and maintaining a 99.99% uptime. It integrates with numerous data destinations like Google Looker Studio, Tableau, and BigQuery, providing marketers with actionable insights to optimize their campaigns and prove the value of their marketing efforts.
Funnel was founded in 2014 by Fredrik Skantze and Per Made in Stockholm, Sweden. The company was established to address the challenges marketers faced with managing and making sense of vast amounts of marketing data. Since its inception, Funnel has grown significantly and now serves over 2,000 customers globally, including prominent brands like Home Depot, Havas Media, and Samsung.
Funnel has successfully raised substantial funding over the years. In October 2021, the company secured $66 million in pre-IPO financing, led by The Fourth Swedish National Pension Fund (AP4) and Stena Sessan, with participation from existing investors such as Balderton Capital and Eight Roads. This funding round was aimed at supporting the company's rapid expansion and preparing for its initial public offering (IPO) on Nasdaq Stockholm. As of October 2021, Funnel's enterprise valuation was estimated to be between $251 million and $377 million.
Funnel offers a comprehensive marketing intelligence platform designed to help marketers aggregate, clean, and analyze data from various marketing sources. Key features of Funnel's platform include:
Data Aggregation: Collect data from over 500 marketing platforms, including advertising, analytics, and CRM systems.
Data Transformation: Clean and model data using customizable rules to ensure accuracy and consistency.
Data Visualization: Export data to visualization tools or data warehouses for real-time insights and reporting.
User-Friendly Interface: No coding skills required, making it accessible for marketers of all technical levels.
Automated Reporting: Save time with automated data collection and reporting, reducing manual effort.
In July 2024, Funnel acquired Adtriba, a Hamburg-based startup specializing in machine learning-based marketing impact measurement. This acquisition aims to enhance Funnel's capabilities by integrating Adtriba's software into its platform, providing customers with more comprehensive marketing intelligence services. Adtriba's team will continue to operate from Hamburg, and the marketing and sales teams of both companies will be merged.
Recent updates to funnel software have introduced several new features aimed at enhancing user experience and functionality. One notable addition is the improved Shopify connector, which allows users to connect new Shopify data sources with just a few clicks. This update also includes new metrics such as Average Items per Order, Return Rate, Gross Profit, and New Customer Orders, which provide valuable insights for e-commerce businesses.
Funnel emphasizes a customer-centric approach, focusing on transparency, fairness, and expert support. The company prides itself on its fast onboarding process and reliable customer service, ensuring that clients can quickly start using the platform and receive assistance whenever needed. Funnel's mission is to empower marketers to become more data-driven, helping them make informed decisions and optimize their marketing strategies.
Funnel serves a diverse range of customers, from large enterprises to digital marketing agencies. The platform is trusted by over 2,000 companies worldwide, including notable names like Adidas, Sony, and Home Depot. Funnel's extensive collection of marketing connectors and user-friendly interface has made it a popular choice among marketers looking to streamline their data management and reporting processes. The company also fosters a strong community of users by providing comprehensive training resources, including documentation, webinars, and live online sessions.
