Yesterday the entire Falcon team either met in Copenhagen or tuned in from New York to hear the big news on our Series B funding round.
It’s official: we’ve secured $16 million (€15m). The round was lead by Amsterdam-based Prime Ventures and joined by existing investors Northcap and Target Partners. And what it means is that while we at Falcon have already been punching far above our weight, you ain’t seen nothing yet.
A Crazy, Crazy Ride
Those were the words of our founder and CEO Ulrik Bo Larsen as he made the announcement. He was referring to Falcon.io’s exceptional growth since our 2010 founding and our Series A funding in 2013.
“To raise $16 million is a staggering achievement,” Ulrik said, describing the new investment as a “big validation of what we’ve achieved”, which at its essence is a SaaS platform that’s “easy to use, roll out and just plain works.”
Double the Lego
In 2013 Ulrik described the Series A round as giving us a “nice box of lego” to build with. It was certainly enough to see the company grow from 16 employees to the more than 180 that greeted his announcement yesterday; while revenue increased by 443% last year and our customer portfolio increased by 130%. Our Series B funding is double that of 2013, with enormous implications for both the company and the product.
There is no question where the money is going: the continuing realization of the goals and vision behind our product: “We want to give enterprises the best solution out there for engaging customers across all channels,” Ulrik said, adding: “We finally have the cash to go all the way”.
Talent acquisition is also a key priority on both sides of the Atlantic. Ulrik announced a “truckload” of new R&D hires as well a significant boost in staff for our New York office, which will soon relocate to Williamsburg, one of the city’s most popular, high energy neighborhoods. There are also plans to expand within Europe, so stay tuned.
“Ticket to Something Even Bigger”
A hike in capital and staff are the starting point of what will be an incredible new leg in Falcon’s journey. We’ve already come further than any comparable company on far less capital. The new funding takes us to the next level. In which our scalable, entirely organically grown and feature-rich platform will continue to evolve to anticipate the needs of a rapidly changing social media marketing space.
As Ulrik summed up yesterday, with our Series B round now landed we’ve: “gotten a ticket to something even bigger.”