Trustmary proclaims $ 2.2 million funding to drive development
Trustmary, a leading testimonial marketing platform, today announced its first round of funding to drive growth in both North America and Europe. The investment will be used to further intensify the company’s market entry and, at the same time, to strengthen the marketing and development teams in both the European headquarters in Finland and the US headquarters in Minneapolis. Since launching the first SaaS product, the company has quickly gained hundreds of customers from United States of America, Canada, Germany, Finland, and Sweden. the $ 2.2 million Investment round consisted of a $ 1.34 million Involvement of Vendep Capital, a Northern European SaaS-focused venture capital company and a $ 888k Loan from Business Finland, a Finnish state finance organization.
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Trustmary was founded in 2016 to provide a global video testimonial service but transformed into a SaaS company in 2020 with the launch of its first SaaS product. The co-founders Johannes Karjula (CEO), Valtteri Ylimäki (Chief Financial Officer), Arttu Haho (Chief Marketing Officer) and Perttu Paukkeri (Board Member and Consultant) will remain in their current positions and look forward to growing the company in both Europe and in the North America.
“We are well positioned to become one of the market leaders in this new market segment. Our customers have seen excellent sales growth with Trustmary’s testimonial marketing platform. The strong need to build more trust and complete more online sales is already there in all industries and the current global megatrends are further fueling this need, ”said Johannes Karjula, CEO of Trustmary. “We are pleased that Vendep is taking part in our trip. Your commitment and your investments motivate our entire team to perform even better in the future. “
“When we got to know each other, we immediately recognized the strengths of the Trustmary team. I then followed their development from their first SaaS customer to a full-blown SaaS company for over a year, ”says Jupe Arala, General Partner at Vendep Capital. “This is really a great example of our process and the type of team we want to support.”
“Today digital trust is in a crisis and prevents a conversion in the sales pipeline. All research confirms that people trust authentic peer reviews and testimonials when making purchasing decisions. Trustmary’s testimonial marketing platform helps companies regain digital trust using automated customer testimonials and achieve measurable results for their customers, ”says Mikko Honkanen, Chairman of the Board of Trustees and Founder of Vainu.
The company will be releasing many new features on the Trustmary testimonial marketing platform in Q4 21, doubling the current team with new marketing and development staff, and accelerating the value proposition for customers.
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