Teamleader raises €10M in round led by Fortino Capital
Ghent, 7 November 2016 – Today, Teamleader announced that it has raised an investment of 10 million euros from a number of parties, including lead investor Fortino Capital. These funds will allow Teamleader to further develop its product into a fully-fledged platform for SMEs and to focus on European market leadership in the SME segment. Jeroen De Wit, CEO of Teamleader: “This investment will allow us to quickly seek out new markets. Of course, we will also continue to invest in the product and in providing our existing clients with support. After all, our strategy of staying close to our clients is what makes us successful, and that’s something we will never lose sight of.”
Teamleader was launched in 2012 as an integrated solution for CRM, quotation management, project management, time recording and invoicing for SMEs. By focusing on a user-friendly and integrated tool which allows SMEs to digitalise quickly and without major investments, Teamleader soon developed into one of the fastest-growing scale-ups in Belgium and Europe.
The company has since opened offices in Western Europe, the German-speaking countries of the DACH region, and Southern Europe. The new investment of €10 million will allow Teamleader to take things to an even higher level, says CEO Jeroen De Wit.
“This new round of investment will allow us to expand still further in the countries in which we are already present, not to mention tapping into new markets. We plan to open offices in France and Italy in the near future. In addition, we are continuing to work on the evolution of Teamleader itself: we intend to grow from a product into a fully-fledged platform which helps SME clients to work smarter thanks to integrations with other tools.”
Multilocal approach: local teams, local integrations
One of Teamleader’s strengths is the company’s use of a multilocal strategy. By developing local teams in the countries in which it is present, Teamleader ensures that clients are supported by people who understand their context.
“This multilocal approach works,” says De Wit. “In the future, not only do we wish to apply this local approach by using local teams, but we also want to make the local aspect of our product more tangible by means of integrations with local software tools. This will make it even easier for SMEs to digitalise.”
Teamleader has great potential, according to Jeroen De Wit. “The last few years have been fantastic: we tripled our growth rate in one year, went from 15 to 100 employees and opened offices in Amsterdam, Berlin and Madrid. But as far as we are concerned, this is just the start. The SME market in Europe is very large. According to estimates by the European Commission, there are no less than 23 million SMEs in Europe. Many of these SMEs are currently looking for solutions which will allow them to increase their productivity and competitiveness: they realise that digitalisation will become a necessity. This refuelling round, as it were, puts us in an excellent position to go for market leadership in the SME segment.”
Fortino Capital is now investing in Teamleader for the third time, after a seed round and a Series A in 2015.
Duco Sickinghe from Fortino Capital: “We have been involved in the Teamleader project for the past two years and are delighted to form part of the company’s further growth story. Fortino Capital likes investing in leaders. From the start, we saw that Teamleader has everything it takes to become the leading European reference in the SME market. We were convinced of the potential of the product, and equally convinced by Jeroen and his team. We certainly made the right decision and are looking forward to seeing what Jeroen and Teamleader will achieve in the years ahead.”
Last month, Unizo nominated Teamleader as the most promising SME in Belgium.
o Founded 4 years ago
o Active in Western Europe, the DACH region and Southern Europe
o 100 employees
Teamleader is a cloud-based SaaS service for CRM and sales, project management, time tracking, and invoicing. It streamlines the entire process from lead to cash. The company of the same name is run by CEO Jeroen De Wit and co-founder Mathias De Loore. Together, they share an ambition of helping SMEs to improve their processes through Teamleader. Through clear and transparent cooperation with its clients, Teamleader is always improving its service. SMEs have the potential to work smarter if the platform on which they work functions well. Teamleader is active in Western Europe, the DACH region and Southern Europe.