Fortino Capital is helping us navigate successfully through complex and high value sales cycles
TechWolf is ambitious. The AI technology start-up is not only building 'the world's foremost platform for large companies to leverage their workforce's skills.' The three founders want to be leading a unicorn within five years. The capital round of ten million euros and Fortino Capital's entry are crucial in their spectacular trajectory.
TechWolf was only founded in 2018. The trajectory that co-founders CEO Andreas De Neve, CTO Jeroen Van Hautte and COO Mikaël Wornoo have been on since then is impressive. Their B2B SaaS solution uses artificial intelligence to map employees' specific skills in great detail. This is how they help large organisations such as Orange, Telenet, KBC and SD Worx with their talent management. Just about all Bel20 companies are customers, as well as several international names such as British Petroleum and HSBC.
Ambitious growth to become a unicorn
TechWolf raised 1 million euros in 2020 to develop its HR software platform. In May 2022, another capital round raised 10 million euros. That's when Fortino Capital, among others, came aboard.
Read the article TechWolf raises €10 million in a Series A round to build the intelligence layer for skills. TechWolf will use the funds to execute its ambitious go-to-market strategy, ramp up international expansion and continue investing heavily in R&D.
“We had the choice between many investors,” says Jeroen Van Hautte. “We were looking for a partner to help us grow and make the right decisions. A partner with empathy who believes and supports its founders. Today, Fortino is delivering very strongly on those expectations. We were growing fast already. Now we have the opportunity and support to grow even faster.”
The intense and respectful partnership supports TechWolf in its ambitious goal of becoming a unicorn with 100 million euros recurring revenue within five years. “We want to become a global software company with a platform that offers added value for mapping people's skills, injecting the necessary expertise in companies, growing their talents and building careers,” Mikaël Wornoo points out.
Success in a high value sales cycle
One of the many challenges in TechWolf's growth trajectory is selling to ever larger, international corporates.
“We're a young founding team selling to the biggest companies in the world,” Jeroen continues. “And all these corporates have very complex acquisition policies. But it has to go right the first time, because you rarely get a second chance.”
“TechWolf does not sell pancakes,” says Mikael Wornoo. “Our technology addresses some of the biggest challenges of large corporations. Fortino is helping us to successfully navigate through complex and high value sales cycles. Their advice is to the point, timely and it's making the difference for us.”
Here it's people make the difference. TechWolf is continuously being strengthened by strong profiles. In 2022 alone, the workforce will double from 25 to 50 employees to keep up with and accelerate growth. “Fortino helps us with talent acquisition and to determine which senior profiles we need," says Mikaël. “Their HR experts aid us by looking in and around their extensive network. At the same time, the entire team's maturity and performance grows because we're learning from experienced people.”
The link with the right people
Fortino combines providing support with keeping distance and respect for the autonomy of the founders. “As VC, the Fortino experts don't have an office in our company,” Mikaël explains. “However, they're available when we need help or advice. As a young founding team, we highly value Fortino's expertise, network, and approach. They link us with the right people and provide us with tactical advice and strategic insights when we need them.”
The meetings of CEOs, CTOs, sales managers, etc. of Fortino's various different portfolio companies are also a unique strength, say Mikaël and Jeroen.“The Fortino Summits are an excellent opportunity to meet founders and professionals with similar challenges”, says Jeroen. “The discussions with Fortino's members and its community have been very valuable to us.”
If you’re a Europe-based B2B SaaS company looking for advice and potential investment, we can help. Get in touch, and let’s get the conversation started.