We invest in Nordic founders with global ambitions
We believe that the most successful companies of our time will be the ones solving real problems. The entrepreneurs that improve the way we live in a scalable way, will create long term profit as well as increase environmental and social sustainability.
We invest in exceptional early-stage tech companies founded by entrepreneurs with global ambitions. We believe that investing in a founder is a mutual partnership, and we know that building great and valuable companies takes time.
We are a Nordic venture capital firm run by experienced venture capitalists, operators and founders that helped create billion-dollar companies.
Bits Technology has raised €4M seed round
Bits Technology announced a €4M seed round that will help the company further its mission of reshaping how future fintech products are built. The round was led by Unusual Ventures. Fin Capital also participated with investors from the fall's pre-seed round, Alliance VC, Cherry Ventures, Forward VC and Greens Ventures.
See company blog and articles from Di Digital (🇸🇪) and Tech.eu.
Alliance joins $23.5M round in X1 led by OpenAI
1X, a company producing androids capable of human-like movements and behaviors, has raised a $23.5M round led by Sam Altman / OpenAI and Tiger Global with a syndicate including Alliance, Sandwater, Skagerak Capital and a strong set of angels.
Check out our blog, 1X blog, Tech.eu, Shifter (🇳🇴), Finansavisen (🇳🇴, $) and Wired.
Alliance invests in Two’s €18M Series A
Two, a company on a mission to fix b-commerce with BNPL for B2B, has raised a €18M Series A led by Shine Capital. Alliance also investing in the round together with Antler, Sequoia Capital, Day One Ventures, LocalGlobe and Sondo Capital.
Check out articles by TechCrunch, Sifted and Shifter (🇳🇴).
APEXX has closed $25M Series B
APEXX, delivering a truly global Payment Orchestration Layer built for enterprise customers, has announced its Series B round of $25M. The round was led by MMC Ventures and included new and existing investors. Alliance participated in the round to continue a strong relationship.
Check out coverage by Finextra.
Kvist has raised 17 MNOK seed round
Kvist Solutions, a provider of digital solutions for environmental certifications in construction, has raised a 17 MNOK seed round led by ArkwrightX and DNB Ventures to accelerate its roll-out. Alliance led the pre-seed round a year ago and followed-on in the seed round.
Check out Shifter article (in 🇳🇴).
Blog post: A True Partner for Founders
There is a lot of talk these days about VC funds being “founder friendly”. An investor being “founder friendly” is not only an attractive proposition for startups, it is attractive for investors too. At Alliance VC, we have a strong bias for action over words. Let us look at the actions we have taken to ensure this.
Read full blog post.
Equlity Check has raised $1.6M equity round
Equlity Check, a company helping organisations create more equal workplaces for all, has raised a new $1.6M equity round. Alliance VC co-invested with Unconventional Ventures and other investors in the round.
See article in Shifter.no for more (in Norwegian)
TouchNetix has raised 120 MNOK ($12M) funding round
TouchNetix, a rapidly growing, global leader in next generation human machine interface (HMI) semiconductor chips and sensor modules, today announced a 120 MNOK ($12M) funding round, where Alliance Venture participated. TouchNetix provides intuitive and safety-enhancing user experiences for touchscreens and smart touch surfaces.
See media coverage and company announcement.
Steep raises €1M pre-seed round co-led by Alliance
Steep, the next-generation analytics platform powered by design, has raised €1M a pre-seed round co-led by Alliance and Inventure and participation from The Nordic Web Ventures, Antler, Greens and a list of well-known angel investors. Steep‘s new funding will facilitate the company’s plans to accelerate its product launch across European and US markets, continue product development and recruit key hires.
Check out articles from Tech.eu, TFN, Shifter (🇳🇴) and founder announcement.
Alliance invests in Ripe's $2M pre-seed round
Stockholm-based Ripe has raised a$2M pre-seed round to power the product-led economy. Ripe makes it easy for companies to respond immediately to their best customers, in-product, by coupling together key data sources and turn data into revenue. Alliance co-invested with Earlybird Venture Capital in the round.
See TechCrunch article and company blog for more info.
Xeneta announces new $80M investment
Xeneta has raised an additional $80M in funding led by Apax Digital with participation from existing investor, Luxor Capital (Lugard Road Capital). This funding highlights the value of data in the ocean shipping and air cargo market.
See TechCrunch article and company blog for further details.
Alliance invests in Bits Technology's pre-seed round
Bits Technology has closed a €1M pre-seed funding round to rethink and ultimately reshape how global fintechs build financial services. The round was led by Cherry Ventures with Alliance Venture, Forward VC and Greens Ventures also joining the round.
See company announcement, as well as articles in Tech.eu and Di Digital (🇸🇪).
Ark Kapital raises another €15M of equity
Ark Kapital has raised another €15M from new (like Annika Falkengren and Timo Soininen) and existing (LocalGlobe, Creandum, Hjalmar Winbladh, Jacob de Geer, Patrick Söderlund and others) investors.
Alliance is happy to participate and increase our investment, as Oliver Hildebrandt, Henrik Landgren, Axel Bruzelius and the team are building a modern, data-driven lender to companies with predictable revenue.
See coverage in Shifted.
Aquabyte closes $25M Series B funding
Aquabyte, which uses computer vision and AI to give fish farms unprecedented insight into the health, growth, and sustainability of their fish, today announced the completion of its Series B round of $25M. The round was led by SoftBank Ventures Asia. Existing investors NEA, Costanoa Ventures, ArcTern Ventures, Struck Capital and Alliance Venture participated in the round.
Check out coverage by Dagens Næringsliv (🇳🇴,$) & press release.
Alliance co-leads $4.8M seed round in Globus.ai
Globus.ai, a staffing AI company, has raised a $4.8M seed round co-led Alliance Venture and Scale Capital, as it ramps up presence in the UK and prepares for further expansion. Globus is growing rapidly by enabling customers to process more vacancies by automating time-consuming and manual recruitment and staffing processes.
Check out coverage by Tech Funding News and Finansavisen (🇳🇴,$) + press release.
Shoreline Wind lands $7.5M funding round
The wind energy SaaS leader has secured a $7.5M funding round led by Ecosystem Integrity Fund (EIF), with Ferd Capital and Blue Bear Capital participating in the syndicate. The funding will support rapid scaleup, accelerate market expansion and increase the company’s unique scenario modeling capabilities.
See company announcement for further details.
Helppy raises €3M seed fund
A new model of home care is emerging – Finnish care platform Helppy raises €3M to expand to Europe from Alliance Venture.
Helppy has developed a neighborhood care model, empowered by tech, as a new alternative to elderly home care. The model, utilizing platform logistics, allows for more personal care, full transparency and higher productivity than the traditional route-based shift worker model. The company has proven its concept in Finland and is now expanding its operations to multiple European countries.
Read full article at Eu-Startups.com
Mjuk raises €4M in its second funding round
Mjuk, the rapidly growing second-hand furniture marketplace has raised €4 million from Allliance Venture and Lifeline Ventures in its second funding round. The funding will mainly be used for product development and to support growth in the Nordics ahead of a wider European expansion.
See Di.se article.
Ark Kapital raises €165M seed round
ArK Kapital has raised €165 million (€150 million in debt funding and €15 million in equity), now providing Stockholm with an entrant into the game of alternative funding options for startups.
See Tech.eu article.
Unleash raises $14M Series A
Unleash is scaling its open source feature management platform in the U.S. and Europe. The platform provides enterprise developer teams greater flexibility and control over data leading to faster, higher quality, and the most secure feature management and deployment. The new round was led by Spark Capital with Alliance joining a strong investor syndicate.
See TechCrunch article, company blog post and press release.
IndyKite has raised $8M and launched platform
IndyKite has raised $8M in a new seed round led by Molten Ventures with participation from Alliance Venture and SpeedInvest, coinciding with the launch of the new identity platform, IndyKite.id.
See company announcement, Tech.eu article and our Medium post.
Medal.tv has raised a total of $60M in new funding
This includes a $45M Series C led by OMERS Ventures, shortly following a previously unannounced $15M Series B from Makers Fund, Horizons Ventures and Dune Ventures. Alliance Venture participated in both rounds. The company also announced further acquisitions.
See coverage from VentureBeat, Finansavisen (Norw./$) and Shifter (Norw.)
Superside has raised a $30M funding round
The round was co-led by Prosus Ventures and Lugard Road Capital, with Slack Fund and Acequia Capital also participating. The funding follows a hugely impressive period of efficient and strong growth, and landing an equally impressive list of premium clients.
See TechCrunch article.
Alliance Venture leads pre-seed round in Kvist Solutions
This was a 5.5 MNOK ($600k) round, where other investors included StartupLab and Vater. Kvist is on a mission to make the building and construction industries more sustainable, and has shown great early customer value and traction.
See Shifter article (in Norw.)
Novelda has raised a 400 MNOK ($45M) funding round
The funding round enables Novelda to accelerate growth, product development and strengthen its position as the global leader in UWB sensing. The round was oversubscribed and included Tier 1 institutional investors joining existing investors.
See Medium post from Novelda.
Arundo Analytics has raised $15M (136 MNOK) in a new equity round
Further details about the round have not been disclosed.
See Finansavisen article (Norw. / $)
Alliance Venture co-leads $2.5M round in IndyKite
We are excited to join Lasse Andresen & the whole IndyKite team on the mission to change the digital identity space - again! Today the company came out of stealth and announced its $2.5M funding round co-led by Alliance Venture and SpeedInvest.
See our Medium post and coverage by Tech.eu, Finansavisen (Norw.) & Shifter (Norw.).
Henrik Torstensson joins as Partner in Stockholm
We are very happy to welcome Henrik to the team!
Previously Henrik was the CEO of Lifesum and an executive at Spotify and Stardoll, as well as an angel investor in TeamTailor, Fishbrain, Videoplaza and others.
Read more at Dagens Industri and Shifter.
Alliance Venture leads Equality Check’s seed round
Equality Check is on a mission to help organizations improve their Diversity & Inclusion performance. Alliance Venture is excited to lead EC's seed round
See article in DN (in Norwegian).
Swarm64 acquired by ServiceNow
ServiceNow has announced the acquistion of Swarm64 to enable a more effective and efficient data management across many different use cases to execute complex, high-speed data analytics at a mass scale. We are proud to have been the first investor in Swarm64. Congratulations to both ServiceNow and the team!
Sanity raises $39M Series B led by ICONIQ
Sanity.io today announced its Series B round led by ICONIQ and joined by Lead Edge Capital. Alliance participated in the round with existing co-investors Threshold and Heavybit.
Check out company announcement, TechCrunch article and coverage in DN.no (in Norw.)
Alliance Venture invests in TouchNetix’ $11.5M Series A
TouchNetix, the rapidly growing provider of next-generation human-machine interface (HMI) chips and sensor modules, has raised an $11.5M Series A to accelerate its global expansion plans. Alliance Venture invested in the round and is excited to back an exceptional team and company. Congratulations to Vegard Wollan, Gaute Myklebust and team for reaching another important milestone! See article and press release.
Xeneta has raised Series C funding of $28.5M
Xeneta, the leading ocean and air freight rate benchmarking platform and container shipping index, today announced the successful close of its $28.5M Series C. The funding was led by New York-based Lugard Road Capital, with participation from existing investors Creandum and Investinor. Lugard Road will join Xeneta’s earlier investors Smedvig Capital, Point Nine Capital and Alliance Venture, bringing the total raised by Xeneta to $49M. See articles in Shifter (Norw.) and press release.
Oda reaches unicorn status
Oda just announced a secondary transaction at company valuation of $ 1.2 billion, on the back of its $ 265 million Softbank/Prosus-led round in April. This means that Oda is now a unicorn!
Read more at Medium
Alliance Venture leads MSEK 15 round in &Repeat
Excited to join &Repeat in their quest to make takeaway packaging better for the environment.
Read the full story in DI Digital
Softbank and Prosus lead $265M round in Oda
Congrats to Softbank and Prosus for partnering with a world-class team and amazing company - Oda (formerly Kolonial.no). It has truly been a great journey since Alliance Venture lead the seed round, and it has just begun...
Read the full story in Techcrunch
Nordic Capital new investor in Boost.ai
Alliance Venture leads MSEK 12 investment in Alexis HR
The investement in the HR data platform marks Alliance first investment in Sweden.
Read more at Breakit (in Swedish).
Alliance Venture leads ShiftX’ MNOK 15.3 Seed round
Alliance is joined by Skagerak Maturo and prominent angels Ståle Løvbukten, co-founder of Questback and Admincontrol, and Evan Weaver, co-founder of Fauna Inc.
For more info, please see Finansavisen article and Shifter coverage, both in Norwegian, or ShiftX medium post (in english).
Sanity raises USD 9.3 million A-round led by Threshold Ventures
Alliance Venture participate together seed-round co-lead Heavybit and with prominent new angel investors such as Ev Williams. Please see Techcrunch article and company blog post for more.
Aquabyte raised 10M USD
Portfolio company Aquabyte raised 10M USD from ArcTern Ventures and existing investors.
Read more (in Norwegian)
Follow-on investments all-time high
H1 2020 ended up being an all-time high for follow-on investment in the Alliance Venture portfolio. Eight companies raised a total of 479 MNOK (approx. 50 MUSD). Six of the funding rounds have already been announced, Apexx Global, Shoreline, Aprila Bank, Boost.ai, Novelda and poLight, while two deals are not yet public.
Apexx raised $8 million Series A
London-based payments platform APEXX Global has raised an $8 million Series A from new and existing investors, including Forward Partners, MMC and Alliance Ventures
Read more at tech.eu
Launching Alliance Venture Delta
We are very happy and proud to be able to close a sizable early-stage venture fund in the midst of the COVID-19 outbreak. This will enable us to invest in a very challenging time for the startup ecosystem. And though this post is written while most of us are still in lock-down it is our firm belief that we as a society will fight through these difficult times.
Responsible investing during the COVID-19 crisis
Now is the time for investors to prove themselves as great long-term partners to entrepreneurs and that it’s not just a marketing gimmick.
FPGA inventor Xilinx invests in Swarm64
Swarm64, the leader in FPGA-accelerated database management solutions, today announced that Xilinx, the FPGA inventor, has invested in Swarm64. The two companies will work together to deliver high-performance analytic databases that are easy to deploy and scale at a lower total cost of ownership (TCO) than existing solutions in the market.
See press release.
Megacool acquired by Medal.tv
Superside, a new Alliance Venture win-win investment
Providing opportunity for global design talent to serve and impact Enterprises.
New investment in Superside
Superside, provider of hassle-free design services for enterprise teams, just raised a 3.5 MUSD funding round. Alliance Venture participated in the round with Freestyle Capital, High Alpha Ventures, and Y Combinator.
See TechCrunch article.
Alliance Venture co-leads seed round in Sanity.io
Sanity.io has raised a 2.4 MUSD seed round led by Heavybit and Alliance Venture joined by a group of angel investors from the developer community. Sanity delivers a Structured Content Platform for modern developers. See announcement and article from DN. (Norwegian)
Confessions of a reality TV VC bad guy
I’d like to congratulate the team of LeadX, Smart Innovation Norway, and Nordic Media Lab on the documentary miniseries from their recent…
Alliance Venture invests in Altua
Altua, the developer of Grunt – the tool that gives PowerPoint users superpowers, announced a new funding round of 16 MNOK (1.9 MUSD) to take Grunt to market. Alliance Venture, a new investor, joined the syndicate of existing investors. See article from Finansavisen (in Norwegian).
Xeneta raises 70 MNOK (8.2 MUSD) in new funding
Xeneta, the leading freight price benchmarking and market intelligence platform, has raised a new funding round of 70 MNOK (8.2 MUSD) led my Investinor. Existing shareholders Smedvig Capital, Creandum, Alliance Ventures, and Alden participated in the funding round. See announcement from Investinor.
Novelda secures 15 MUSD in growth funding for its XeThru radar sensor business
Novelda, a developer and supplier of adaptive smart sensors, has closed a USD 15 million funding round to further develop and take the XeThru radar sensor technology into high volume applications. Alliance Venture participated in the round led by Investinor. See the company’s announcement.
Digesting impressions from SaaStr Annual 2019
I have been a SaaStr fan and follower of the SaaStr community and best practices for years, yet I attended my first SaaStr Annual last week. The conference prides itself on “actionable advice and learnings to help grow SaaS businesses from $0 to $100M ARR”.
PoLight announces successful IPO raising 130 MNOK
poLight ASA today announced the successful completion of its initial public offering (IPO). The first day of trading of the company’s shares on the Oslo Stock Exchange is expected to be Monday 1 October 2018 under the ticker OSE: PLT. In the offering poLight has raised 130 MNOK in new funds. See the company’s announcement.
“Why are you here?”
… is probably the most frequent question I get, when I explain who I am and what I do. This is not a hostile question or bullying tactic, but simply an indication of genuine curiosity and some confusion.
Boost.ai secures 5 MUSD Series A investment from Alliance Venture
Boost.ai, provider of the world’s most robust virtual assistant platform, announced today the closing of a new round of financing from Alliance Venture. Boost.ai has developed the world’s most robust natural language processing (NLP) algorithms. These algorithms enable virtual assistants built on the James® platform to respond to customer enquiries quickly, efficiently and with unrivaled accuracy. The financing will be used to strengthen the technical and commercial teams within boost.ai, and to support expansion beyond the Nordics. See article (in Norwegian).
Aquabyte raises 3.5 MUSD seed funding; aims to transform fish farming through computer vision and machine learning
Aquabyte, a startup applying computer vision and machine learning models to dramatically optimize fish farming efficiency, today announced a 3.5 MUSD Seed Round of funding co-led by Costanoa Ventures and New Enterprise Associates (NEA) with participation from Alliance Venture, Princeton University and other investors. See press release, Forbes article and Shifter article (Norw).
Arundo Analytics raises 25MUSD Series A funding to bring large-scale machine learning into asset-heavy industries
Arundo Analytics, a software company powering advanced analytics in heavy industry and Alliance Venture portfolio company, announced today an initial closing of 25 MUSD on its Series A financing round. To date, the company has raised over $32.5 million since its founding in 2015. “This investment is a validation of the product and market strategy our team pursued over the last two years,” said Tor Jakob Ramsøy, CEO of Arundo. See article.
Swarm64 raises 12.5 MUSD Series B round led by Intel Capital
Alliance Venture portfolio company, Swarm64 – an enabler of real-time analytics for high velocity and big data – has raised 12.5 MUSD Series B round led by Intel Capital. The funding will be used to strengthen Swarm64’s position as a global leader in FPGA-based accelerators for relational databases. Alliance Venture participated in the round. See press release in English and article in Norwegian.
Aprila Bank has raised 170 MNOK (20 MUSD) in funding
Alliance Venture invested early alongside FJLabs and was later joined by several reputable Norwegian investors. Aprila delivers a fully automated on-the-spot financing solution for SMEs with an innovative distribution model. The solution will address the SME funding gap through a seamless integration with established ERP solutions and accounting services. See article in Norwegian.