Stockholm-based edtech startup Mentimeter has collected $42M in a Series C funding round led by Creades, Nordstjernan Growth, and Alfvén Didrikson. The company’s platform makes it easier to listen and to be heard by transforming passive audiences into active contributors. This capital injection will pave the way for Mentimeter, already having 200 million users and customers in over 220 countries, to reach new markets starting from the US and focus on product development and marketing.
Mentimeter Announces $42M Series C to Expand its Engaging, Inclusive and Productive Meeting Platform in U.S.
Mentimeter, an audience engagement platform (AEP) used by more than 280 million people to transform conventional presentations into interactive experiences, today announced a $42 million Series C funding round. Mentimeter will use the funds to execute its growth strategy and support its expansion into new geographic markets including the United States, and expand investments into product development, enterprise sales and marketing.
The funding round was led by Creades, Nordstjernan Growth, and Alfvén Didrikson. The global online presentation software market is valued at US$ 873.54 Mn and is expected to reach US$ 1796.42 Mn by 2028.
“I’m very proud and happy to have so many great colleagues, customers and supportive investors that believe in the same things we believe in: that a world with more listening is a better world,” said Johnny Warström, co-founder and CEO of Mentimeter.
“We see how fundamentally culture in organizations change when Menti is used: presenters listen more to their audience, the loudest-voice-in-the-room is balanced out and opinions surface that otherwise wouldn’t. I’m incredibly excited to have continued support from Alfvén & Didrikson and new support from Creades & Nordstjernan Growth. With extra muscle, we can do important investments and stay in our global leadership position. We are building a product for the benefit of one billion people, and that journey has just begun.”
Mentimeter was founded in 2014 with the ambition to fundamentally change corporate and education culture from talking to listening. By engaging every voice in the room, Mentimeter allows organizations to harness their full potential, enabling informed decision-making. Whether in-person or remote, Mentimeter helps to transform passive audiences into active contributors through engagement tools, including polls, comments or reactions, to boost inclusivity, productivity and engagement to help organizations achieve optimal business and learning outcomes. In just two years, Mentimeter has seen 178% sales growth with a more than 400% increase in enterprise customers.
Mentimeter changes traditional linear communication to engaging interaction with tools developed for the three different stages of a presentation and meeting, namely prepare, engage, and follow up. According to Mentimeter’s new study on meeting participation and engagement, people want more ways to engage. In fact, 71% of meeting participants want anonymous ways to engage in meetings; a core value proposition of Mentimeter.
“Creades, Nordstjernan Growth, and Alfvén & Didrikson are some of the highest regarded investors in Sweden, and together, we can now invest even more in our international expansion and sales growth. With the new investors we are also adding important knowledge to the Board that will lay the ground for our future success,” said Katarina Bonde, Chairwoman of the Board of Mentimeter.
Carnegie Investment Bank AB (publ) acted as Financial Adviser in connection with the Private Placement. Advokatfirman Vinge KB acted as legal adviser in connection with the Private Placement.