Teamleader, the SaaS platform that helps SMEs operate in a more digitally savvy way, has closed $22 million in Series C funding. The round was led by London-based Keen Venture Partners, with participation from PMV and existing investors Fortino Capital and Sage Capital.
Claiming to serve nearly 10,000 customers in 6 countries — comprised mostly of small and medium-sized enterprises — Belgium-headquartered Teamleader offers a SaaS-based platform to enable SMEs to digitise their business processes. This includes CRM and sales, project management, time tracking, and invoicing.
A more recent aspect — and where Teamleader sees future growth — is the Teamleader Marketplace, which allows customers to integrate their favourite local SaaS tools with Teamleader. This is on track to support 1,000 integrations, with a heavy emphasis on localisation.
“We even created a $1 million fund for developers across Europe to create integrations with Teamleader, a pretty wild idea that’s working great,” Teamleader co-founder and CEO Jeroen De Wit tells me.
“What’s great about the marketplace is that it also allows European SaaS players to piggyback on our growth — like the Belgian startup Cumul.io which is now finding customers in Spain through our marketplace. This perfectly fits our vision”.
More broadly, De Wit says SMEs are no longer afraid of digitization, and are using more and more business software to their advantage. “These tools need to work side by side as one, in integrated systems, for SMEs to get maximum value out of them,” he adds.
Meanwhile, in addition to investing in the Teamleader Marketplace, Teamleader says it plans to use its Series C funding for continued international growth and to accelerate its product roadmap. This will include doubling-down on what it calls a “multi-local approach” and fine-tuning the Teamleader product for country-specific needs. How very European.
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