The Sweden based Cronlab, a provider of different anti-spam solutions, has closed financing to further speed up its sales and widen its product offering. The financing round is Cronlab’s first and was raised from different European angel investors. The size of the round, nor the investors were not disclosed. Cronlab offers both anti-spam hardware solutions, but also SaaS alternatives as well as hosted solutions.
Cronlab is a small Swedish company, that created only 91k kronor (10k€) in revenues in fiscal year ending April 2010. However, in the fiscal year ending April 2009 they generated revenues of approximately 1,4 million kronor (150k€). Update (20.10.2010): The figures represented above only account for CronLab’s Swedish business. Cronlab moved their business to UK in 2010 and thus the figures do not completely show their business potential or state of it.
“The financing is a testament to Cronlab’s business model and we are very happy to have found such strong support from experienced investors across Europe. It will allow us to further grow our development team and offer our clients an expanded range of innovative IT security products in the near future”, states Daniel Axsäter, CEO of CronLab.